Stocks are mixed this Tuesday morning, with the NASDAQ rising while the S&P 500 and the DJIA are falling. This is the second morning in a row stocks opened this way, and the trend still held when stocks closed yesterday afternoon. This is a bit longer than these bifurcations usually last, but it makes a certain amount of sense as the price of oil is falling, and the Dow is more heavily weighted with energy stocks than the NASDAQ. The big loser today is the Williams Company (WMB), down 10.4% after raising cash with a secondary offering. Valeant Pharmaceuticals (VRX) is up 10% after raising $2.1 billion by selling assets.
Here are your Tuesday morning market metrics. Industries doing well today include healthcare technology, life sciences, and metals & mining. Industries showing weakness include household products, equity REITs, and capital markets. The VIX is up 0.7% to 11.64 after closing on Monday at 11.56. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 10,000 March 205 puts and 6,020 February 200 puts on the board. The total put/call ratio as of 10:00 AM was 0.6 (349,263/208,112). NYSE Adv/Dec 1,531/1,110. Nasdaq Adv/Dec 1,235/938.