Major indices are in the red this Monday morning as The Street considers the long-term effects of higher gasoline prices. Global oil prices held on to most of last week’s gains over the weekend. GE (GE) is down 3% today after announcing a cut to its dividend. Shares of Mattel (MAT) are up 19.5%, apparently due to rumors that Hasbro (HAS) will move to acquire the company. HAS shares are up 7.8%.
Industries doing well today include leisure products, diversified consumer services, and personal products. Industries showing weakness include industrial conglomerates, energy equipment, and trading companies. The VIX is up 3% to 11.63 after closing on Friday at 10.29. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 10,116 December-15 264 calls and 10,000 December-15 271 calls on the board. The total put/call ratio as of 10:00 AM was 0.79 (380,253/299,210). The advancers/decliners ratio for NYSE stocks is 1,009/1,736 while the advancers/decliners ratio for NASDAQ stocks is 1,006/1,733.