Major indices are mixed on Thursday morning, providing what feels to be a soft landing after a huge run that goes back all the way to the election and before. Rapidly rising global oil prices have pushed WTI crude up to nearly $50 per barrel. After rising by 50K to 298K last week, Initial Jobless Claims fell back to 284K, though they will likely continue to show volatility as a result of Harvey and Irma. Hertz (HTZ) is down 9% this morning after being downgraded by Morgan Stanley. Hertz, donut?
Here are your Thursday morning market metrics. Industries doing well today include road & rail, energy equipment, and oil & gas. Industries showing weakness include professional services, multiline retail, and textiles. The VIX is flat at 10.5. The most heavily traded options this morning are for Bank of America (BAC), with 19,988 December-15 25 calls on the board. The total put/call ratio as of 10:00 AM was 0.74 (333,299/284,095). The advancers/decliners ratio for NYSE stocks is 1,341/1,430, while the advancers/decliners ratio for NASDAQ stocks is 1,118/1,512.