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Stocks rebound after inflation data comes in higher than expected

Major equity indices are moving in a positive direction Wednesday morning after initially opening lower. The early-morning weakness was sparked by a higher-than-anticipated Consumer Price Index report, but the bearishness seems to have been relatively short lived as stocks started to rise before 10:00.

At present, the S&P 500 is up 0.324%, the DJIA is up 0.08%, and the NASDAQ is up 0.29%.

Industries doing well today include Metals & Mining, Diversified Consumer Services, and Road & Rail. Industries showing weakness include Equity Real Estate Investment Trusts, Construction Materials, and Trading Companies & Distributors. The VIX is down 4.77 to 20.20 after closing yesterday at 24.97. The most heavily traded options this morning are for the SPDR S&P 500 ETF (SPY), with 15,277 2/14/18 270 calls on the board. The total put/call ratio as of 10:00 AM was 0.1.49 (328,005/328,005). The advancers/decliners ratio for NYSE stocks is 1,852/1,074 while the advancers/decliners ratio for NASDAQ stocks is 1,968/850.

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Bobby Raines

Bobby Raines is the Managing Editor of the Market Intelligence Center. He has degrees in Mass Communications and History from Emory & Henry College. Bobby worked at a mid-sized daily newspaper before making a switch to covering the financial industry full time in the years leading up to the financial crisis. He has been a member of the Fresh Brewed Media team since 2011 and has served as a writer and analyst. You can write to him at braines@marketintelligencecenter.com or follow him on Twitter: @BRatMICenter.