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Stocks rising, bonds falling

Stocks are rising this Wednesday morning, continuing recent trends, though bonds are falling, in a trend reversal. The ten year US treasury yield is still only 2.16%, indicating that bonds are still high from a historical perspective. A relatively weak bounce in oil prices may be of some concern to investors this morning. US Steel (X) is up 2.8% in morning trading, while Southwest Airlines (LUV) is down 2.4%.

West Texas Intermediate crude is trading at $47.68. At present, the S&P 500 is up 0.11%, the DJIA is up 0.14%, and the NASDAQ is up 0.17%.

Here are your morning market metrics. Industries doing well today include construction materials, technology hardware, and consumer finance. Industries showing weakness include airlines, automobiles, and distributors. The VIX is down 3% to 10.13 after closing on Tuesday at 10.45. The most heavily traded options this morning are for Apple (AAPL), with 3,437 June-9 155 calls on the board. The total put/call ratio as of 10:00 AM was 0.81 (215,234/174,883). The advancers/decliners ratio for the NYSE is 1,722/1,038 and for the NASDAQ, 1,594/976.

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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.