December 8, 2015 Market Wrap Up
The S&P 500 closed lower, now making it four out of five down days. Oil has been dominating headlines as it has hit multi-year lows. In addition, many oil-related stocks were in play today, specifically, MLPs.
Kinder Morgan (KMI) -11%, NGL Energy Partners (NGL) -9%, Alerian MLP ETF (AMLP) +1.7%.
In the after hours, we got news out of Wynn Resorts (WYNN), CEO, Steve Wynn announced that he bought 1 million shares in the open market. The stock is up more than 5%. Also, Yahoo (YHOO) announced that it will not plan to move ahead on the Alibaba (BABA) spinoff. The stock price is up more than 2.5% in extended hours trading.
The VIX took off, closing the day 11% higher at 17.60.
On the options front, we saw large call buying activity in Time Inc (TIME). We also saw massive put buyers in Banco Santander (SAN).
Here’s what is going for the rest of the week:
Key Economic Data:
10 December 2015- Jobless Claims 8:30 AM ET
11 December 2015- Jobless Claims 8:30 AM ET
12 December 2015- PPI 8:30 AM ET, Retail Sales 8:30 AM ET
Key Earnings:
09 December 2015- FRAN, MW, VRA
10 December 2015- CIEN, ADBE, FNSR, NCS
Key Events:
07 December 2015- Raymond James Tech & Communications Conference (runs til 12/09), UBS Global Media & Communications Conference (runs til 12/09), Wells Fargo Energy Symposium (runs til 12/09)
08 December 2015- Barclays Global Technology Conference (runs til 12/09), Goldman Sachs Financial Services Conference (runs till 12/09), Oppenheimer Healthcare Conference (runs til 12/09)