Stocks directionless despite big earnings wins

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After the Open... Retail sales numbers came in this morning, showing only 0.2% growth in June, which is a good bit slower than the 0.7% the Street was expecting. The market is taking the news rather hard, which is to say it isn't climbing rapidly, which is odd in light of a spate of good earnings reports that hit the wire before the trading session began. Comerica ( CMA ), Goldman Sachs ( GS ), Johnson and Johnson ( JNJ ) and JP Morgan Chase ( JPM ) all reported higher than expected second quarter 2014 earnings. The across the board earnings strength has put many a bearish fear to bed, but Janet Yellen is currently testifying before Congress, which is probably why stocks are directionless in early trading.

Here are your Tuesday morning market metrics. Industries doing well today include Banks, Health Care Technology and Gas Utilities. Industries showing weakness include Tobacco, Textiles, Apparel & Luxury Goods.

The VIX is up 0.68% to 11.90 after closing on Monday at 11.82. Microsoft ( MSFT ) options are again the most actively traded today. There have been 9,779 August 44 calls changing hands. The put-call volume ratio is 0.84, (603,889/509,664). NYSE Adv/Dec 1,203/1,747. Nasdaq Adv/Dec 754/1,608. 


Julian Close has been a business writer since the first day of the twenty-first century, having written for PRA International and the United Nations Department of Peacekeeping. He graduated from Davidson College in 1993 and received a Master of Arts in Teaching from Mary Baldwin College in 2011. He became a stockbroker in 1993, but now works for Fresh Brewed Media and uses his powers only for good. You can see closing trades for all Julian's long and short positions and track his long term performance via twitter: @JulianClose_MIC .


This article was originally published on MarketIntelligeneCenter.com



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Earnings

Referenced Stocks: CMA , GS , JNJ , JPM , MSFT

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As of 12/26/2014, 04:15 PM


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