Traders shake off worries

 

Bad news, hater. Major indices are higher this Tuesday morning after closing in the green on Monday. Asian markets are at their highest point yet this year, the 10-year US Treasury rate has ticked down slightly, and the price of oil appears to have stabilized for now. These stabilizing forces, in addition to a recent spate of higher than expected earnings from the financial sector, are creating a great deal of investor confidence, despite what has already been a historically long run of good fortune. Facebook (FB) hit an all time high this morning after an analyst upgrade. Ford (F) is down 1.6% after growing auto-loan defaults and negative analyst comments.

West Texas Intermediate crude is trading at $48.43. At present, the S&P 500 is up 0.09%, the DJIA is up 0.08, and the NASDAQ is up 0.15%.

Here are your Tuesday morning market metrics. Industries doing well today include hotels & leisure, metals & mining, and technology hardware. Industries showing weakness include automobiles, airlines, and diversified consumer services. The VIX is down 1.8% to 11.13 after closing on Monday at 11.34. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 3,160 September-15 230 puts on the board. The total put/call ratio as of 10:00 AM was 0.81 (329,459/268,051). The advancers/decliners ratio for the NYSE is 1,059/499 and for the NASDAQ, 737,385.

Symbols: F FB 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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