April 21, 2015 Market Wrap Up

The S&P 500 closed slightly negative today; however, the VIX sold off, closing at 13.25. At the moment, trading is dominated by focusing in on individual stock names. Specifically, those stocks and sectors that are experiencing earnings.

Only a small percentage of S&P 500 companies have reported thus far; however, the majority of them have beat estimates. A positive sign, and one of the main reasons the market has been able to shake off Friday’s sell-off.

Crude oil futures closed the day relatively weak, with the United States Oil ETF (USO) settling in at $19.45, a drop of more than 2%.

On the options front, we saw bullish call buying in CSX Corporation (CSX), Walgreen Boots Alliance Inc (WBA) and Time Warner (TWX). Bearish option bets were made in Coeur Mining Inc (CDE).

Here’s what’s on tap for the rest of the week.

Key Economic Data:
22 April 2015- Existing Home Sales 10:00 AM ET,
23 April 2015- Jobless Claims 8:30 AM ET, New Home Sales 10:00 AM ET
24 April 2015- Durable Goods Orders 8:30 AM ET

Key Earnings:
21 April 2015- (Reported This Evening) AMGN, BRCM, CMG, CREE, DFS, ILMN, INFN, ISRG, MLNX, NAVI, SYK, VMW, YUM, YHOO
22 April 2015- ABT, AN, BA, BK, DHI, EMC, KO, MCD, STJ, AF, CAKE, EBAY, FB, FFIV, ORLY, QCOM, T, TXN, VMI
23 April 2015- ALK, BAX, BEAV, CAB, CAM, CAT, DHR, DOW, DPZ, ERIC, HP, IR, JCI, JNS, LLY, LTM, LUV, MJN, NDAQ, PENN, PEP, PG, SWK, ALTR, AMZN, AWAY, CB, EW, FSL, GOOG, JNPR, MSFT, NEM, P, QLIK, SBUX
24 April 2015- AZN, BIIB, INFY, LEA, SPG, TYC

Key Events:
22 April 2015- G7 Meeting