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Stocks Higher to Start Holiday Week

After the Open… Stocks started the holiday-shortened weak with gains on signs of progress toward a solution ot the Fiscal Cliff and some better-than-expected news from the housing sector.

Industries trading higher this morning include Plastic and Rubber, Forestry and Wood Products and Home Improvement Retailers. Trading lower this morning are Schools and Audio and Video Equipment. Lowe's (LOW) is up 7%. Apple (AAPL), Alpha Natural Resources (ANR), National Oilwell Varco (NOV) and US Steel (X) are up 4%. Dish Network (DISH), Intuit (INTU) and NRG Energy (NRG) are down 1%.
The VIX is down down 0.66 at 15.75 after closing Friday at 16.41. Options on Corning (GLW) have appeared on the most-active list today with more than 62,554 contracts of the January 15 call changing hands. The put-call volume ratio is 0.74 (455,245/615,528). NYSE Adv/Dec 2,668/286. Nasdaq Adv/Dec 1,873/456. [InvestorsKeyhole, various news and data sources]    

Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.