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Stocks rise, led by unstoppable NVDIA

Major indices are in the green this Monday morning, surging to new highs. NVDIA (NVDA) leads the pack higher, up another 3.3% this morning after ending Friday up more than 6%. This follows recent comments from Evercore ISI analyst C.J. Muse that shares would soon hit $250. In other news, Northrop Grumman (NOC) announced that it would purchase Orbital ATK (OA) in a deal valued at $7.8 billion. Shares of OA are up 20%.

West Texas Intermediate crude is trading at $49.74. At present, the S&P 500 is up 0.28%, the DJIA is up 0.26%, and the NASDAQ is up 0.38%.

Here are your Monday morning market metrics. Industries doing well today include construction materials, construction & engineering, and semiconductors. Industries showing weakness include healthcare technology, leisure products, and airlines. The VIX is down 2.16% to 9.95 after closing on Friday at 10.17. The most heavily traded options this morning are for the WisdomTree Japan Hedged Equity ETF (DXJ), with 6K October-27 54.5 on the board. The total put/call ratio as of 10:00 AM was 0.95 (370,125/352,885). The advancers/decliners ratio for NYSE stocks is 1,945/816, while the advancers/decliners ratio for NASDAQ stocks is 1,872/824.

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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.