Login to your account

Lost your password?

Stocks, dollar, fall as political tensions rise

Global markets fell overnight, apparently in response to the escalating crisis facing the Trump presidency. The dollar has taken a hit as well, falling against Euro, Pound, and Yen. All major indices are deep in the red in morning trading. Oddly enough, no big name stocks are down by very much, though Bank of America (BAC), the fortunes of which seem to be tied closely to those of the president, is down 2.75%. It isn’t all bad news, however. Colgate Palmolive (CL) is up 3% on news the CEO is courting possible buyers.

West Texas Intermediate crude is trading at $48.90. At present, the S&P 500 is down 0.96%, the DJIA is down 1.01%, and the NASDAQ is down 1.15%.

Here are your Wednesday morning market metrics. Industries doing well today include multiline retail, household products, and equity REITs. Industries showing weakness include construction materials, banks, and trading companies. The VIX is up 15.4% to 10.65 after closing on Tuesday at 10.65. The most heavily traded options this morning are for Bank of America (BAC), with 15,026 July 26 calls on the board. The total put/call ratio as of 10:00 AM was 1.11 (530,210/587,655). The advancers/decliners ratio for the NYSE is 561/2,323 and for the NASDAQ, 421/2,259.

Symbols: ,

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.