August 18, 2016 Market Wrap Up
The S&P 500 crept higher for the second straight session, pushing to us to nearly flat on the week now. Earlier in the day, earnings out of Wal-Mart Stores (WMT) was taken well as the stock closed at 74.30, touching 52-week highs.
Stocks in play today include: Corrections Corp of America (CXW) -35%, The Geo Group (GEO) -40%, Harley-Davidson (HOG) -1.7%, and Valeant Pharmaceuticals (VRX) -2.7%
The VIX closed lower, and now trading below 11.50, closing at 11.43.
Crude oil futures continue to ascend higher, now up over 8% on the week, and not incredibly far from the 52-wk highs, closing above $48 per barrel.
On the options front, we saw large call buying activity in Amphenol Corp (APH), which traded 4 times normal option volume. In addition, we saw heavy put buying in Chicos Fas (CHS) at 2.8 times normal options volume.
Here’s what’s on tap for tomorrow:
Key Earnings:
19 Aug 2016- DE, EL, FL, MSG
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