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Tech stocks come roaring back

Stocks are higher this Thursday morning after big gains across the board in yesterday’s session. Big winners from Wednesday include NVIDIA (NVDA) and Mercadolibre (MELI). NVIDIA is already up another 2% this morning, while Delta Airlines (DAL) is down 2%. In a reversal of recent trends, the dollar is somewhat stronger vs the Euro this morning, and bond yields are somewhat lower.

West Texas Intermediate crude is trading at $45.79. At present, the S&P 500 is up 0.11%, the DJIA is up 0.06%, and the NASDAQ is up 0.24%.

Here are your Thursday morning market metrics. Industries doing well today include independent power, multiline retail, and containers & packaging. Industries showing weakness include diversified telecom, airlines, and distributors. The VIX is down 1.75% to 10.12 after closing on Wednesday at 10.3. The most heavily traded options this morning are for GE (GE), with 9,081 August 28 calls on the board. The total put/call ratio as of 10:00 AM was 0.91 (260,824/237,386). The advancers/decliners ratio for the NYSE is 1,369/1,403 and for the NASDAQ, 1,060/1,580.

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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.