Major indices opened lower this morning after Monday’s strong rally, but quickly moved in the direction of the breakeven line as has been the recent trend. Their real direction for the day currently remains anyone’s guess. There is big movement in the mining sector today on news that the price of iron ore has continued to tumble. Vale S.A. (VALE) is down 3%, Freeport-McMoRan (FCX) is down 1.8% and Rio Tinto (RIO) is down 0.85%
Here are your Tuesday morning market metrics. Industries doing well today include containers & packaging, personal products, and beverages. Industries showing weakness include trading companies, metals & mining, and pharmaceuticals. The VIX is up 1.3% to 14.8, after closing on Wednesday at 14.66. The most heavily traded options this morning are for Bank of America (BAC), with 4,764 December-15 25 calls on the board. The total put/call ratio as of 10:00 AM was 0.77 (354,238/274,507). The advancers/decliners ratio for the NYSE is 612/1,178 and for the NASDAQ, 465/896.