Stocks rise on Trump day

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Stocks are higher this Friday morning as the world prepares for the inauguration of President Trump. The price of oil is rebounding after several days of decline. Merck (MRK) is up 3.85% this morning after rival Bristol-Myers Squibb (BMY) announced it would not seek accelerated approval of its lung cancer drug, giving Merck a big head start.

West Texas Intermediate crude is trading at $52.65. At present, the S&P 500 is up 0.5%, the DJIA is up 0.48%, and the NASDAQ is up 0.5%.

Here are your Wednesday morning market metrics. Industries doing well today include household products, semiconductors, and containers & packaging. Industries showing weakness include industrial conglomerates, diversified consumer services, and automobiles. The VIX is down 0.22% to 12.50 after closing on Thursday at 12.78. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 20,352 January 225 puts on the board. The total put/call ratio as of 10:00 AM was 1.36 (254,319/344,777). NYSE Adv/Dec 1,863/901. Nasdaq Adv/Dec 1,597/784.

Symbols: BMY MRK SPY
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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