Wall Street’s lost fortnight


On Monday night, the S&P 500 closed at 2,584.84, within pennies of its closing value thirteen days prior on the first of November, meaning that as of today, the market has been in neutral for a fortnight. Major indices opened moderately lower on Tuesday, and the global price of oil ticked down slightly as well. Shares of Home Depot (HD) are flat after the company reported third quarter earnings that were better than expected, but clearly not better enough to stoke any excitement.

West Texas Intermediate crude is trading at $56.09. At present, the S&P 500 is down 0.51%, the DJIA is down 0.42%, and the NASDAQ is down 0.51%.

Industries doing well today include auto components, distributors, and specialty retail. Industries showing weakness include real estate management, construction & engineering, and energy equipment. The VIX is up 3.7% to 11.92 after closing on Monday at 11.5. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 8,020 November-22 255 puts, and 8,010 November-22 245 puts on the board. The total put/call ratio as of 10:00 AM was 1.25 (286,528/356,937). The advancers/decliners ratio for NYSE stocks is 1,067/1,728 while the advancers/decliners ratio for NASDAQ stocks is 1,081/1,672.

Symbols: HD 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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