Traders returned to the market in a good mood on Tuesday morning, their spirits having been lifted, no doubt, by the joyous global celebrations marking Presidents’ Day. With oil, gold, the dollar, and interest rates all more or less hovering in place over the long weekend, the market may be taking its cue from China, as the SHCOMP rallied more than 3% overnight. Also this morning, a small fish, Apollo Global (APO), arranged a deal to buy a bigger fish, ADT (ADT), in a $6.9 billion deal.
Here are your Tuesday morning market metrics. Industries doing well today include commercial services, internet and catalog retail, and communications equipment. Industries showing weakness include electrical equipment, leisure products, and diversified telecommunications. The VIX is down 1% to 25.08 after closing on Friday at 25.4. The most actively traded equity options are for Bank of America (BAC), with 25,105 February 17 puts changing hands. The total put-call volume ratio as of 9:00 AM was 0.76 (406,432/310,861). NYSE Adv/Dec 2,126/776. Nasdaq Adv/Dec 1,737/598.