If you like recent stock-market trends, you may be unhappy with the news this Thursday morning, as a great many such trends went into reverse. Since the close of Wednesday’s session, the price of oil has fallen, bond rates have climbed, steel company stocks have risen, and there were slightly more initial claims than predicted in the weekly jobless report. US Steel (X), is up 3% today, apparently due to rising confidence that the US will finally act to punish China for selling us cheap steel. Also, eBay (EBAY) is down 3.8% after an uninspiring earnings report.
Here are your Thursday morning market metrics. Industries doing well today include road & rail, consumer finance, and auto components. Industries showing weakness include tobacco and trading companies. The VIX is down 1.2% to 14.75, after closing on Wednesday at 14.93. The most heavily traded options this morning are for the Energy Select Sector SPDR ETF (XLE), with 17,373 June 70 calls on the board. The total put/call ratio as of 10:00 AM was 0.95 (277,694/262,434). The advancers/decliners ratio for the NYSE is 1,530/755 and for the NASDAQ, 1,423/480.