Stocks have opened higher this Wednesday morning, for the third time this week. There is relief among traders that oil’s price slide has halted for the time being, and even had a modest bounce, but there will likely be no huge swings in the market until after the Fed meets today at 2:00 PM. Brazil’s mining giant Vale (VALE) is up 5% today after being granted a license to mine in the Amazon.
Here are your Tuesday morning market metrics. Industries doing well today include metals & mining, air freight, and multiline retail. Industries showing weakness include technology hardware, internet & catalog retail, and REITs. The VIX is down 7.85% to 14.62 after closing on Tuesday at 15.92. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 25K September-23 218.5 calls changing hands. The total put/call ratio as of 10:00 AM was 1.11 (284,861/316,697). NYSE Adv/Dec 2,183/480. Nasdaq Adv/Dec 1,606/540.