Major indices are in the green this Tuesday morning after closing slightly higher on Monday. The price of oil is slightly higher than it was 24 hours ago, but still lower than it was one week ago. The US Justice Department has announced that it will sue to block the acquisition of Time Warner (TWX) by AT&T (T), setting the stage for a bruising fight. In other news, Coca-Cola (KO) has announced that it hasn’t ruled out plans to enter the alcohol business. Have a Coke and a smile!
Industries doing well today include construction & engineering, technology hardware, and healthcare equipment. Industries showing weakness include diversified consumer services, multiline retail, and leisure products. The VIX is down 5.9% to 10.02 after closing on Monday at 10.65. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 17,600 December-1 256 puts on the board. The total put/call ratio as of 10:00 AM was 0.73 (451,884/328,223). The advancers/decliners ratio for NYSE stocks is 2,070/774 while the advancers/decliners ratio for NASDAQ stocks is 1,950/783.