December 28, 2016 Market Wrap Up
The markets sold off today on below average trading volume. With that said, there isn’t much left on the schedule for the final two days of trading. The only drama really left is if the Dow Jones Industrial Average will breaking 20k.
Even though trading volume was relatively low, we did see a bidin the VIX, as it closed at 12.95, a rise of 8%.
Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.17%, iShares 20+ Year Treasury Bond (TLT) +0.73%, SPDR Gold Shares (GLD) +0.28%.
Stocks in play today included: Nvidia (NVDA) -6.88% and Weis Markets (WMK) +11.67%, Kate Spade & Co. (KATE) +23%
On the options front, we saw large call buying activity in Kate Spade & Co. (KATE), which traded 9.0 times normal option volume. In addition, we saw heavy put buying in PC Tel (PCTI), which saw 38.4 times normal options volume.
Here’s what’s on tap for the rest of the week:
Key Economic Data:
29 Dec 2016- International Trade in Goods 8:30 AM ET, Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
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