The January effect

Major indices are in the green again today, as the Street looks to top off a week of steep gains across the board. Bad news for Republicans looking to tout success of their tax-cut, in that in the month of December, non-farm payrolls rose by 148,000 instead of the 190,000 expected. Francesca’s (FRAN) is down 16% and Under Armour (UAA) is up 3.6%.

At present, the S&P 500 is up 0.28%, the DJIA is up 0.26 %, and the NASDAQ is up 0.37%. West Texas Intermediate crude is trading at $61.62. Bitcoin is at $15,970 on Bitstamp.

Industries doing well today include auto components, communications equipment, and road & rail. Industries showing weakness include construction materials, building products, and leisure products. The VIX is up 0.87% to 9.3 after closing on Thursday at 9.22. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 20,312 January-12 270 puts and 20,027 January-31 270 puts on the board. The total put/call ratio as of 10:00 AM was 1.05 (303,938/318,053) The advancers/decliners ratio for NYSE stocks is 1,641/1,124 while the advancers/decliners ratio for NASDAQ stocks is 1,662/1,003.

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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