Major indices are mixed this Thursday morning to begin the second to last trading day of the year. As the mid-Atlantic bundles up due to a cold spell, the market itself appears nearly frozen. Oil prices remain near $60, gold remains near $1,296, and Bitcoin remains near incomprehensibility. Initial Unemployment Applications were unchanged from last week at 245,000. The market almost seems to be whispering, “go back to sleep…”
Industries doing well today include consumer finance, diversified consumer services, and diversified financial services. Industries showing weakness include distributors, real estate management, and independent power. The VIX is down 2.5% to 10.2 after closing on Tuesday at 10.47. The most heavily traded options this morning are for Bank of America (BAC), with 3,620 December-29 30 calls on the board. The total put/call ratio as of 10:00 AM was 0.85 (160,207/136,003). The advancers/decliners ratio for NYSE stocks is 1,841/1,281 while the advancers/decliners ratio for NASDAQ stocks is 1,399/1,348.