Stocks opened lower Tuesday as new trade tensions unnerved investors. The headline retail sales number for April was in-line with expectations, but when auto sales are factored out, April’s retails sales look a little light.
At present, the S&P 500 is down 0.64%, the DJIA is down 0.69%, and the NASDAQ is down 0.87%.
Industries doing well today include Leisure Products, Construction Materials, and Multiline Retail. Industries showing weakness include Life Sciences Tools & Services, Semiconductors & Semiconductor Equipment, and Internet & Catalog Retail. The VIX is up 1.25 to 14.18 after closing yesterday at 12.93. The most heavily traded options this morning are for the SPDR S&P 500 Trust ETF (SPY), with 54,419 June 15 268 puts on the board. The total put/call ratio as of 10:00 AM was 1.12 (339,730/302,424). The advancers/decliners ratio for NYSE stocks is 1,041/1,889, while the advancers/decliners ratio for NASDAQ stocks is 1,374/1,558.