After the open… The major exchanges are lower in morning trading, in part due to a selloff in the Asian and European markets, and in part due to a strong dollar, as traders worry a strong dollar could be bad for US economic growth.
Here are your Monday morning market metrics. Industries doing well today include Paper / Forest Products, Chemicals and Technology Hardware. Industries showing weakness include Internet & Catalog Retail, Metals & Mining, and Construction.
The VIX is up 10.25% to 13.35 after closing on Friday at 12.11. Bank of America (BAC) options are seeing high volume this morning, with 33,649 October 18 calls changing hands. The put-call volume ratio is 1.01, (296,950/298,693). NYSE Adv/Dec 606/2,306. Nasdaq Adv/Dec 552/1,886.
Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.