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Red all over

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.

West Texas Intermediate crude is trading at $53.68. At present, the S&P 500 is down 0.25%, the DJIA is down 0.12%, and the NASDAQ is down 0.57%.

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.

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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.