Major indices are in the red this Friday morning, on the last trading day of 2016. Despite relatively good economic news, interest rates and the dollar have lost their momentum. Bank of America (BAC) is up 0.7%, while NVDIA (NVDA) is down 1.8% to $109.45. Shed no tears for NVDIA, however, as the stock is up 232% year to date, leading both the NASDAQ and the S&P 500.
Here are your Friday morning market metrics. Industries doing well today include equity REITs, real estate management, and banks. Industries showing weakness diversified consumer telecom, software, and semiconductors. The VIX is up 4.6% to 13.99 after closing on Thursday at 13.37. The most heavily traded options this morning are for the PowerShares QQQ ETF (QQQ), with 10,000 January-13 121.5 calls and and 10,000 January-13 117 puts on the board—looks like someone’s opening QQQ strangles. The total put/call ratio as of 10:00 AM was 1.08 (201,311/218,021). NYSE Adv/Dec 1,252/1,602. Nasdaq Adv/Dec 901/1,619.