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Markets like earnings, but doubt lingers after Fed's warning

After the Open... Twenty-First Century Fox's ( FOXA ) offer to buy Time Warner ( TWX ) dominates the headlines this morning and has pushed TWX stock up 18% from Tuesday's close. With the notable exception of Bank of America ( BAC ), the season's parade of earning reports is looking very much like a victory parade. Traders were also pleased to hear this morning that economic growth in China is on par with and even slightly ahead of expectation as slipping real estate prices have stoked fears that the nation might be headed towards a cascading debt crisis. Fed Chairwoman Janet Yellen warned yesterday that some stock prices seemed too high, tempering the market's euphoria. Major indices are all slightly in the green.

Here are your Wednesday morning market metrics. Industries doing well today include Semiconductors & Equipment, Media, and Metals & Mining. Industries showing weakness include Banks, Biotechnology and Multiline Retail.

The VIX is down 5.5% to 11.3 after closing on Tuesday at 11.96. Fortinet ( FTNT ) options are again the most actively traded today. There have been 22,090 July 24 calls changing hands. The put-call volume ratio is 1.27, (397,256/503,382). NYSE Adv/Dec 1,689/1,217. Nasdaq Adv/Dec 1,336/1,067.

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 Nasdaq, Inc.


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

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