August 4, 2015 Market Wrap Up

The S&P 500 closed lower for the third straight trading session. However, as mentioned yesterday, we’re not too far off the yearly highs.

A lot of the sell-off can be attributed to the sharp decline in Apple shares, dropping more than 3%, more than six points off the 200-day moving average. On the bright side, Netflix hit 52-week highs, after announcing a date on when it will enter Japan and catching a few price target raises.

Interestingly, the Chinese market rebounded last night. Which was good enough to see commodity prices rebound slightly.

The VIX saw a slight pop, closing the day at 13, a move of 3.5%.

On the options front, we saw bullish call buying in Rite Aid Corp (RAD). We also saw bearish option activity in Cirrus Logic Inc (CRUS).

Here’s what’s else on tap for tomorrow and the rest of the week:

Key Economic Data:
5 August 2015- International Trade 8:30 AM ET
6 August 2015- Jobless Claims 8:30 AM ET
7 August 2015- Employment Situation 8:30 AM ET

Key Earnings:
5 August 2015- GDP, HCA, ICE, LL, PCLN, RL, TWX, WEN, CBS, GDDY, GMCR, HLF, PRU, ZU, TSLA
6 August 2015- AGN, DDD, EAT, GOGO, KORS, RGEN, RIO, SEAS, TAP, VIAB, ANET, GRPN, MRO, ZNGA
7 August 2015- CVC