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Meanwhile, back on cloud nine

The market’s mid-week experiment with political consciousness has apparently proven unsuccessful, as stocks were headed back in the direction of their recent highs during Friday morning trading. Deere (DE) is up 7% after posting its first revenue increase in 13 quarters. Broad though the rally is, it isn’t enough to help Foot Locker (FL) which is down a painful 16.6% after missing sales and earnings estimates in its first quarter.

West Texas Intermediate crude is trading at $50.19. At present, the S&P 500 is up 0.59%, the DJIA is up 0.43%, and the NASDAQ is up 0.60%.

Here are your Friday morning market metrics. Industries doing well today include independent power, consumer finance, and machinery. Industries showing weakness include textiles, electric utilities, and multi-line retail. The VIX is down 14.9%% to 12.28 after closing on Thursday at 14.66. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), 10,030 May-26 232 puts and more than 50K more May and June puts (at various strikes) on the board. The total put/call ratio as of 10:00 AM was 0.87 (352,408/306,248). The advancers/decliners ratio for the NYSE is 2,140/673 and for the NASDAQ, 1,831/796.

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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.