April 2, 2015 Market Wrap Up

The S&P 500 closed the day higher; however, the action was rather anemic. This should come to no surprise given that there is no trading tomorrow.

The VIX sold off over 3%, closing at 14.59.

For those stock market junkies trying to find something to trade, it was probably in the energy sector. What the market’s eye was a story that Iran would agree to dilute or ship a majority of their enriched Uranium. Of course, this sent crude oil prices lower.

In addition, we saw weakness in the refiners, such as, Valero Energy Corporation (VLO) -5.75% and Tesoro Corporation (TSO) -5.15% to name a few.

For those event-driven traders, we saw heavy selling action in Motorola Solutions, Inc. (MSI) -6.24% The move was attributed to a story stating that the company was having difficulty finding a buyer.

On the options front we saw bullish call buying in Markwest Energy Partners LP (MWE). However, there wasn’t nearly as much notable action as we’re used to seeing.

Here’s what’s left on the schedule. Remember, US Markets are closed this Friday.

Economic Data:
3 April 2015- Employment Situation 8:30 AM ET