After the open… The economy created more jobs than expected in September: 213K, beating the 202K consensus estimate and the 202K in August. Given the economy's particular ills, there are few more important metrics. Construction spending was surprisingly lower, but construction spending numbers seem to have almost decoupled from home sales and real estate price data in recent months. The market is lower, down 0.75% on the S&P 500, and it seems to have some downward momentum. Blame Ebola and human nature for this one. Unsurprisingly, biotechnology stocks, particularly the “Ebola” stocks – Tekmira (TKMR), Sarepta Therapeutics (SRPT) and BioCryst (BCRX) are bucking the trend.
Here are your Wednesday morning market metrics. Industries doing well today include Independent Power & Renewables, Electric Utilities and Multi-Utilities. Industries showing weakness include Airlines, Road & Rail and Aerospace & Defense.
The VIX is up 2.76% to 16.76 after closing on Tuesday at 16.31. The most active option strike this morning is Blackberry (BBRY), with 16,000 December 10 puts changing hands. The put-call volume ratio is 1.41, (612,325/865,575). NYSE Adv/Dec 1,082/1,943. Nasdaq Adv/Dec 573/1,859.