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Wall Street puts a foot wrong

Stocks opened significantly lower this Thursday morning, though those losses are being paired down in early trading. The global price of oil is rising sharply at this hour. The Initial Unemployment Claims number was higher than expected this morning, reversing the recent trend. CenturyLink (CTL) is down 9% today after an earnings miss and rising concerns that integration of its Level 3 acquisition is not going well.

West Texas Intermediate crude is trading at $57.24. At present, the S&P 500 is down 0.37%, the DJIA is down 0.29%, and the NASDAQ is down 0.53%.

Industries doing well today include personal products, media, and independent power. Industries showing weakness include professional services, semiconductors, and trading companies. The VIX is up 6% to 10.37 after closing on Wednesday at 9.78. The most heavily traded options this morning are for Bank of America (BAC), with 11,460 November-10 27 calls on the board. The total put/call ratio as of 10:00 AM was 0.86 (526,955/451,632). The advancers/decliners ratio for NYSE stocks is 1,133/1,695 while the advancers/decliners ratio for NASDAQ stocks is 1,107/1,675.

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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.