Stocks rise on morning after wild session


Stocks are in the green this Friday morning, building on an impressive late day rally in Thursday’s session that almost made up for the sharp decline on Thursday morning. With so many factors in play—the OPEC meeting, interest rates, economic reports, weak China data, the Wells Fargo (WFC) scandal, political chaos, earnings season, creepy clowns, etc.—it is hard to know, at any given moment, exactly what the market is responding to. AMD (AMD) is higher on news that it has made a deal with Alibaba (BABA) in which Alibaba will use Radeon Pro graphics in its cloud computing.

West Texas Intermediate crude is trading at $50.40. At present, the S&P 500 is up 0.63%, the DJIA is up 0.74%, and the NASDAQ is up 0.67%.

Here are your Friday morning market metrics. Industries doing well today include containers & packaging, capital markets, and semiconductors. Industries showing weakness include multiline retail, trading companies, and tobacco. The VIX is down 7.7% to 15.39, after closing on Thursday at 16.69. The most heavily traded options this morning are for Bank of America (BAC), with 5,860 October 16.5 calls, 5,435 October-14 16 calls, and 4,496 November 19 calls on the board. The total put/call ratio as of 10:00 AM was 0.81 (291,101/235,132). NYSE Adv/Dec 2,236/553. Nasdaq Adv/Dec 1,806/532.

Julian Close

Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.

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