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Stocks mixed, oil up

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?

West Texas Intermediate crude is trading at $48.64. At present, the S&P 500 is down 0.16%, the DJIA is up 0.08%, and the NASDAQ is down 0.34%.

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.

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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.