After the open… Stocks were up in pre-market trading, but morning traders were less enthusiastic and those gains were quickly shed. New Home Sales numbers for August were surprisingly good, but concerns over valuation and war still dampen the market's spirits.
Here are your Wednesday morning market metrics. Industries doing well today include Biotechnology, Tobacco and Food & Staples. Industries showing weakness include Energy Equipment, Oil & Gas and Technology Hardware.
The VIX is down 1.5% to 14.71 after closing on Tuesday at 14.93. There is a lot of action in Walter Energy (WLT) options this morning, with 15K October 2.5 calls, 15K October 4 calls, and 10K January 2 puts changing hands. The put-call volume ratio is 0.99, (260,208/257,540). NYSE Adv/Dec 1,164/1,690. Nasdaq Adv/Dec 1,185/1,115.
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.