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Stocks take a dive

Friday, September 09, 2016 10:16 AM | Julian Close

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Stocks take a dive

Traders are unloading stock this Friday morning after digesting comments from Boston Fed President Eric Rosengren, who spoke this morning of increasing risks should the Fed continue to hold interest rates low. The news has caused the dollar to strengthen against Yen and Euro. Oil prices too have fallen in morning trading, though this comes after a strong rally on Thursday. Defying the market trend today is Finisar, (FNSR), up 14% after posting a big earnings win. West Texas Intermediate crude is trading at $46.68. At present, the S&P 500 is down 1.02%, the DJIA is down 0.87%, and the NASDAQ is down 0.9%. Here are your Friday morning market metrics. Industries doing well today include banks, capital markets, and multiline retail. Industries showing weakness include independent power, life sciences, and metals & mining. The VIX is up 9.5% to 13.7 after closing on Thursday at 12.51. The most heavily traded options this morning are for Procter & Gamble (PG), with 10K October-7 120 calls and 10K October-7 120 puts changing hands. The total put/call ratio as of 10:00 AM was 1.1 (416,806/459,621). NYSE Adv/Dec 304/2,505. Nasdaq Adv/Dec 469/1,828.

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