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Dow up – NASDAQ down

Major indices are mixed this Wednesday morning as technology issues suffer from something of a flash-crash. This comes as Fed Chair Janet Yellen addresses Congress, offering primarily good news about the economy. The price of Bitcoin finally punched through the $10,000 barrier in the early morning hours, and is now $10,917. Big losers today include Micron Technology (MU), down 5.6%, NVIDIA (NVDA), down 5.4%, and Applied Materials (MAT), down 6.2%.

West Texas Intermediate crude is trading at $58.16. At present, the S&P 500 is down 0.02%, the DJIA is up 0.33%, and the NASDAQ is down 1.07%.

Industries doing well today include multiline retail, airlines, and healthcare providers. Industries showing weakness include semiconductors, internet & catalog retail, and internet software. The VIX is up 4% to 10.45 after closing on Tuesday at 9.87. The most heavily traded options this morning are for the Financial Select Sector SPDR ETF (XLF), with 39,382 January-19 28 calls and 38,108 January-19 27 calls on the board. The total put/call ratio as of 10:00 AM was 0.69 (532,060/366,529). The advancers/decliners ratio for NYSE stocks is 1,465/1,473 while the advancers/decliners ratio for NASDAQ stocks is 1,557/1,323.

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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.