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Stocks rise as dollar strengthens

Major indices are in the green this Monday morning, as stocks are rising in sync with a strengthening dollar for the second session in a row. A rising dollar can put negative pressure on earnings, in the short-term, so Wall Street’s favorable reception of the rising dollar indicates that the weak dollar is a serious source of concern for traders. General Motors (GM) is up 3.4%. American Outdoor Brands (AOBC), the company formerly known as Smith & Wesson, is up 4.7%.

West Texas Intermediate crude is trading at $50.31. At present, the S&P 500 is up 0.24%, the DJIA is down 0.29%, and the NASDAQ is up 0.36%.

Here are your Monday morning market metrics. Industries doing well today include automobiles, healthcare technology, and biotechnology. Industries showing weakness include leisure products, multiline retail, and energy equipment. The VIX is up 0.1% to 9.59 after closing on Friday at 9.51. The most heavily traded options this morning are the PowerShares QQQ ETF (QQQ), with 60,120 October-13 145 puts and 60,087 October-13 143 puts on the board. The total put/call ratio as of 10:00 AM was 1.13 (326,649/367,677). The advancers/decliners ratio for NYSE stocks is 1,734/1,159, while the advancers/decliners ratio for NASDAQ stocks is 1,891/922.

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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.