August 31, 2015 The Week Ahead

The S&P 500 ended Friday’s action on a mild note, something that was probably unexpected given all the fireworks we had during the week. The market recaptured all of it’s losses from Monday and Tuesday’s sell-off on Wednesday and Thursday. We went from a low of 1867 to closing at nearly 1990. A massive swing in prices and volatility.

Many believe the catalyst was fears of greater weakness out of China. However, over the last few days, it appears that fear was overemphasized.

Just two weeks ago, the VIX was below 13, but it’s now been two straight Friday’s where it has closed above 25.

Crude Oil futures ran up more than 15% over the last two trading sessions. Is this a dead cat bounce, or will we start seeing a sector rotation into energy companies. This sector has been beaten up for some time now.

Here’s what else is on the schedule:

Key Economic Data:
1 September 2015- ISM Manufacturing 10:00 AM ET
3 September 2015- International Trade 8:30 AM ET, Jobless Claims 8:30 AM ET
4 September 2015- Employment Situation 8:30 AM ET

Key Earnings:
1 September 2015- AMBA, QIHU, HRB, DLTR, BOBE
2 September 2015- FIVE, NAV, VRA
3 September 2015- CPB, CIEN, BLOX, JOY, MDT, PAY, LE, COO