April 12, 2016 Market Wrap Up

The market had a nice bounce after yesterday’s sell off. In fact, we’re not too far off most recent highs. With that said, earnings have kicked off and much of the focus will be on that over the next several weeks.

The VIX sold off nearly 9%, closing the day at 14.85.

One of the sectors on fire was energy. The United States Oil Fund (USO) was up over 2.5%, closing the day at 10.64. Crude Oil is closed above $41 per barrel, sitting around 3 month highs.

On the options front, we saw large call buying activity in Synaptics, Incorporated (SYNA). In addition, we saw heavy put buying in Boston Properties, Inc. (BXP), which saw 8.7 times usual options volume.

Stocks in play included: Chesapeake Energy (CHK) +33%, Juniper Networks (JNPR) -7%, Seadrill (SDRL) +22%, and Horizon Pharma (HZNP) (-25%)

As mentioned, earnings season is going to start picking up some steam. Here’s what is on tap for tomorrow and the rest of the week.

Key Economic Data:
13 April 2016- Retail Sales 8:30 AM ET, PPI-FD 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
14 April 2016- Consumer Price Index 8:30 AM ET, Jobless Claims 8:30 AM ET
15 April 2016- Industrial Production 9:15 AM ET

Key Earnings:
13 April 2016- JPM, PIR
14 April 2016- BAC, BLK, DAL, PGR, TSM, WFC, AMD, CHKE
15 April 2016- C, RF, SCHW