Major indices are in the green this morning, following Wednesday’s devastating technology selloff. In particular, the Dow Jones is doing well, rising above 24,000 for the first time, having been lifted on Wednesday as cash flowed from technology into bank stocks. Another big winner today is Kroger (KR), up 13% after better than expected earnings and great holiday season guidance.
Industries doing well today include energy equipment, food & staples retailing, and air freight. Industries showing weakness include media, beverages, and insurance. The VIX is up 0.4% to 10.74 after closing on Wednesday at 9.7. The most heavily traded options this morning are for the S&P 500 SPDR ETF (SPY), with 10,469 December-22 267 calls on the board. The total put/call ratio as of 10:00 AM was 0.64 (406,418/260,884). The advancers/decliners ratio for NYSE stocks is 1,867/936 while the advancers/decliners ratio for NASDAQ stocks is 1,661/1,081.