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Stocks lower despite trade deal

The US and China signed a trade deal this morning that should allow Us companies access to Chinese markets, but stocks are still in the red. JC Penney (JCP) reported lower than expected sales this morning, causing shares to fall by 8%. The Trade Desk (TTD), a programmatic advertising company, reported a fantastic first quarter and is up a smashing 20%. Oil and gold prices are both slightly higher.

West Texas Intermediate crude is trading at $47.89. At present, the S&P 500 is down 0.19%, the DJIA is down 0.13%, and the NASDAQ is down 0.07%.

Here are your Friday morning market metrics. Industries doing well today include technology hardware, metals & mining, and internet/catalog retail. Industries showing weakness include multiline retail, textiles, and industrial conglomerates. The VIX is down 1% to 10.5 after closing on Thursday at 10.6. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 10K June-30 215 puts on the board. The total put/call ratio as of 10:00 AM was 0.72 (347,736/251,240). The advancers/decliners ratio for the NYSE is 1,241/1,587 and for the NASDAQ, 971/1,630.

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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.