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Stocks fall across the board

Major indices are in the red this Friday morning as global oil prices tumble back down below $50 per barrel and the yield on the US ten-year treasury rises all the way to 2.4%. This caps off what has otherwise been a very good week for stock and will be, if the trend continues, the first down day of the week. Costco (COST) reported earnings after the bell on Thursday, soundly beating both earnings and revenue expectations, but it seems the Street was hoping for better. Shares of COST are down 5.4%.

West Texas Intermediate crude is trading at $49.38. At present, the S&P 500 is down 0.16%, the DJIA is down 0.08%, and the NASDAQ is down 0.04%.

Here are your Friday morning market metrics. Industries doing well today include diversified consumer services, airlines, and automobiles. Industries showing weakness include diversified telecom, food & staples, and metals & mining. The VIX is up 3.5% to 9.51 after closing on Thursday at 9.19. The most heavily traded options this morning are the PowerShares QQQ ETF (QQQ), with 11,000 Januanry-19 135 puts on the board. The total put/call ratio as of 10:00 AM was 0.78 (342,455/268,229). The advancers/decliners ratio for NYSE stocks is 776/2,032, while the advancers/decliners ratio for NASDAQ stocks is 1,166/1,488.

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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.