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.
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.