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Stocks mixed as earnings reports roll in

Stocks are mixed today after chip maker intel (INTC) reported lower than expected earnings, falling 5% on the news, while oil and gas drillers are higher, along with the price of oil. Shares of bank stocks are also higher today, influenced, no doubt, by Bank of California (BANC), which not only surprised the marker by reporting its third quarter results early (in response to an anonymous short seller), but blew away expectations with record earnings. BANC shares are up 18.6%.

West Texas Intermediate crude is trading at $51.15. At present, the S&P 500 is down 0.03%, the DJIA is up 0.0.06%, and the NASDAQ is down 0.15%.

Here are your Wednesday morning market metrics. Industries doing well today include energy equipment, airlines, and real estate management. Industries showing weakness include distributors, semiconductors, and construction materials. The VIX is down 3% to 14.82, after closing on Tuesday at 15.28. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 50,000 March 170 puts on the board. The total put/call ratio as of 10:00 AM was 1.33 (263,264/348,900). NYSE Adv/Dec 1,569/1,270. Nasdaq Adv/Dec 1,112/1,290.

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Julian Close

Julian Close became a stockbroker in 1995. In his 20 years of market experience, he has seen all market conditions and written about every aspect of investing. Julian has also written extensively on corporate best practices and even written reports for the United Nations. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC.