Major indices are well into the green this Tuesday morning as the market kicks off a four-day week to start 2017. The US dollar is also strong, rising against the Euro, Pound, and Yen. Traders seem to be shrugging off growing concerns over stock valuations, embracing the euphoria. Oil and mining companies are racing higher, particularly Petrobras (PBR) which is up 7.42%. NVDIA (NVDA), on the other hand, continues to fall back from its recent highs and is now down 2%.
Here are your Tuesday morning market metrics. Industries doing well today include metals & mining, construction & engineering, and textiles. Industries showing weakness include electric utilities, multi-utilities, and healthcare equipment. The VIX is down 2% to 13.76 after closing on Friday at 14.04. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 10,125 January-27 230 calls and 10,000 January-27 235 calls on the board. The total put/call ratio as of 10:00 AM was 0.9 (243,528/218,293). NYSE Adv/Dec 2,152/591. Nasdaq Adv/Dec 1,889/491.