Stocks stand still as oil slide continues


Major indices are mixed this Monday morning as talk of new production cuts has failed to stop the price of oil from falling. WTI crude is now below $47 per barrel. Bond prices too fell further over the weekend. There are no big winners in stocks yet this morning, though Box (BOX) is down 3.5%, and Bristol-Myers Squibb (BMY) is down 2.75%.

West Texas Intermediate crude is trading at $46.98. At present, the S&P 500 is down 0.02%, the DJIA is up 0.01%, and the NASDAQ is down 0.01%.

Here are your morning market metrics. Industries doing well today include internet software, software, and capital markets. Industries showing weakness include multiline retail, technology hardware, and media. The VIX is up 2.4% to 9.99 after closing on Friday at 9.75. The most heavily traded options this morning are for Exxon-Mobil (XOM), with 5,003 June 80 puts and 3,750 June 77.5 puts on the board. The total put/call ratio as of 10:00 AM was 0.76 (287,239/219,413). The advancers/decliners ratio for the NYSE is 1,205/1,636 and for the NASDAQ, 1,147/1,542.

Symbols: BMY BOX XOM
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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