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Tech sector drives market forward

Stocks are mostly higher at mid-morning Monday. Technology stocks are among the leaders after President Trump said he would work with China to keep Chinese firm ZTE from closing down, signalling that a softening of the president’s trade posture is possible.

At present, the S&P 500 is up 0.39%, the DJIA is up 0.56%, and the NASDAQ is up 0.60%.

Industries doing well today include Biotechnology, Multiline Retail, and Semiconductors & Semiconductor Equipment. Industries showing weakness include Health Care Technology, Leisure Products, and Metals & Mining. The VIX is up 0.31 to 12.96 after closing yesterday at 12.65. The most heavily traded options this morning are for Bank of America (BAC), with 17,237 Jan 18 20 puts on the board. The total put/call ratio as of 10:00 AM was 0.82 (248,127/304,237). The advancers/decliners ratio for NYSE stocks is 1,666/1,258, while the advancers/decliners ratio for NASDAQ stocks is 1,615/1,305.

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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.