Stocks are lower Thursday morning. Earnings reports, while there have been a few bright spots, haven’t been enough to reverse sentiment. Traders’ moods were made no better by yesterday’s clear signal from the Federal Reserve that further interest-rate increases are coming, and soon, even as they voted to let things stand for now.
Industries doing well today include Diversified Telecommunication Services, Energy Equipment & Services, and Electrical Equipment. Industries showing weakness include Air Freight & Logistics, Diversified Consumer Services, and Tobacco. The VIX is up 0.06 to 14 after closing on Wednesday at 13.51. The most heavily traded options this morning are for the NXP Semiconductors (NXPI), with 6,000 April 130 calls on the board. The total put/call ratio as of 10:00 AM was 1.03 (306,851/297,560). The advancers/decliners ratio for NYSE stocks is 1,292/1,568 while the advancers/decliners ratio for NASDAQ stocks is 1,268/1,513.