After the open… The price of oil fell below $54 this Tuesday morning, continuing its spectacular and seemingly bottomless fall. While Wall Street wobbles, the Rouble has fallen headlong into a bottomless pit of its own, which has only increased the turbulence for stocks. Uncertainty is high enough that stocks fell in pre-market trading , though they are going back up at present, perhaps due to continuing claims by analysts that cheap oil will be an incredible boon for the US economy. Gasoline is now below $2 in some parts of the country, but it hasn't fallen nearly as fast as oil, leaving consumers to wonder, as they so often do, where all the missing billions are going. The S&P 500 is up 0.15%.
Here are your Tuesday morning market metrics. Industries doing well today include Construction, Electrical Equipment and Distributors. Industries showing weakness include Airlines, Internet & Catalog Retail and Software.
The VIX is up 5% to 21.45 after closing on Monday at 20.42. The most active option strikes are for Blackberry (sbux) with 10,261 December 55 calls changing hands. The total put-call volume ratio is 0.98, (477,422/466,548). NYSE Adv/Dec 1,344/1,613. Nasdaq Adv/Dec 1,259/1,089.
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 MarketIntelligenceCenter.com