Tech stocks began the week in a steep dive, continuing the trend that began on Friday. NVDIA (NVDA) is down 4.4% today, Facebook (FB) is down 2.3% and Amazon.com (AMZN) is down 2.9%. Even so, a great many old-economy stocks are holding up quite well today. GE (GE) in particular is up 4.7% after announcing a change in leadership, with Immelt stepping down from the CEO position. Even beleaguered US Steel (X) is up 2.8%.
Here are your Monday morning market metrics. Industries doing well today include industrial conglomerates, multiline retail, and trading companies. Industries showing weakness include technology hardware, internet/catalog retail, and internet software. The VIX is up 9% to 11.67 after closing on Friday at 10.7. The most heavily traded options this morning are for the Financial Select Sector SPDR ETF (XLF), with 10,030 June 24 calls on the board. The total put/call ratio as of 10:00 AM was 0.89 (442,122/392,876). The advancers/decliners ratio for the NYSE is 1,586/1,257 and for the NASDAQ, 1,236/1,462.