February 14, 2017 Market Wrap Up

The markets closed at the highs today. Despite the best efforts by the media to portray that the country is politically in shambles. The money changers are bullish stocks and we’re seeing it in these averages… and we’re seeing it in the depleted VIX. At some point, stocks will be too rich to own, however; judging by the price action we’re not there yet.

Strong earnings performers included: Diebold Nixdorf (DBD), Retailmenot (SALE), and Molson Coors (TAP)

Weak earnings performers included: Generac Holdings (GNRC) and Fossil Group (FOSL)

The VIX closed lower today, and is now trading below the 11 mark, closing at 10.74.

ETF Performers: United States Oil Fund (USO) +0.53%, iShares 20+ Year Treasury Bond (TLT) -0.72%, SPDR Gold Shares (GLD) +0.11%.

On the options front, we saw large call buying activity in Nektar Therapeutics (NKTR), which traded 6.3 times normal option volume. In addition, we saw heavy put buying in IMAX Corporation (IMAX), which traded 22 times normal option volume.

Here is what is left for the rest of the week:

Key Economic Data:
15 Feb 2017- Consumer Price Index 8:30 AM ET, Retail Sales 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET
16 Feb 2017- Housing Starts 8:30 AM, Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET

Key Earnings:
15 Feb 2017- ANGI, GRPN, HLT, LAD, OZM, PEP, SHOP, SODA, SONS, WIX, WYN, AMAT, CAR, CBS, CC, CF, CSCO, CVA, GDDY, GRPN, HAWK, KHC, MAR, MRO, NLY, NTAP, NTES, PKD, SPWR, TIVO, TRIP, WMB, WPZ
16 Feb 2017- AVP, CAB, CHTR, ALXN, DF, DUK, EPAM, GNC, H, MGM, NCI, RS, TIME, TPX, WEN, ZTS, WM, ANET, BCOV, CUBE, DVA, ED, FLS, KEYS, TRUE, WWAV
17 Feb 2017- AAN, CPB, CTB, DE, FNMA, MCD, VFC, SJM, LPNT, FLR

Key Events:
14 Feb 2017- Goldman Sachs Technology & Internet Conference (runs till 2/16)
15 Feb 2017- Leerink Global Healthcare Conference (runs till 2/16)

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