Stocks are lower again Friday as the monthly jobs report did little to assuage worries about inflation that have caused quite a bit of selling on the bond market in recent weeks. That bond selling has of course sent interest rates higher, leading to some new headwinds for an equity market where valuations were already pretty stretched.
Industries doing well today include Internet & Catalog Retail, Leisure Products, and Communications Equipment. Industries showing weakness include Oil, Gas & Consumable Fuels, Metals & Mining, and Internet Software & Services. The VIX is up 0.52 to 13.99 after closing on Thursday at 13.47. The most heavily traded options this morning are for the iShares Russell 2000 Index ETF (IWM), with 21,620 May 132 puts on the board. The total put/call ratio as of 10:00 AM was 1.02 (519,467/510,659). The advancers/decliners ratio for NYSE stocks is 420/2,260 while the advancers/decliners ratio for NASDAQ stocks is 635/2,258.