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%.
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.