January 14, 2016 Market Wrap Up
In 2016, volatility is the name of the game. With that said, it was out in full force today. The S&P 500 traded in a range of 1878 to about 1934. Ultimately closing the day about 1.67% higher. Believe it or not, we’re nearly flat on the week now.
The VIX continues to stay elevated above 20, however; today it was down 5%, closing at 23.95.
Crude oil futures prices continue to hover around $30 per barrel. Lately, the equity markets have been selling off when energy does. Let’s see if that theme continues.
Stocks in play included: Chipotle Mexican Grill (CMG) +6.2%, Solarcity (SCTY) -13.5%, and Abbvie (ABBV) +6.7%.
On the options front, we saw large call buying activity in Abbvie (ABBV). We also saw aggressive put buying in Workday (WDAY) .
Here’s what’s on tap for tomorrow:
Key Economic Data:
15 January 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET
Key Earnings:
15 January 2016- BLK, C, FAST, RF, USB, WFC
Conferences:
15 January 2016- JPMorgan Healthcare Conference (runs till 1/15), UBS Greater China Conference (runs till 1/15)