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Stocks take a dip

Major indices are in the red this Thursday morning. JPMorgan (JPM) reported third quarter earnings this morning of $1.76 per share, comfortably beating the consensus estimate of $1.67 per share. Even so, the Street is finding cause to disapprove, as shares of JPM are lower by about 0.5%. New unemployment claims came in lower than expected this morning, offering some evidence that the US job market remains strong despite short-term losses from the recent hurricanes. Mercadolibre (MELI) is down 6% so far today.

West Texas Intermediate crude is trading at $50.30. At present, the S&P 500 is down 0.16%, the DJIA is down 0.11%, and the NASDAQ is down 0.1%.

Here are your Thursday morning market metrics. Industries doing well today include trading companies, software, and life sciences tools. Industries showing weakness include diversified telecom, media, and auto components. The VIX is up 2.2% to 10.07 after closing on Wednesday at 9.85. The most heavily traded options this morning are for the Financial Select Sector SPDR ETF (XLF), with 38,035 November-17 27 calls, 38,001 November-17 26 puts, and 38,000 November-27 25 puts on the board. The total put/call ratio as of 10:00 AM was 1.08 (334,785/360,126). The advancers/decliners ratio for NYSE stocks is 1,146/1,648 while the advancers/decliners ratio for NASDAQ stocks is 1,059/1,647.

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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.