July 14, 2015 Market Wrap Up

The S&P 500 continued trading higher today, getting closer to the yearly highs. The S&P 500 is nearly 70 points higher over the last six days.

With that said, the VIX has collapsed during that period. The VIX is now under 13.50, closing the day at 13.37.

It appears the fears in China and Greece are subsiding. The focus is now turned to earnings.

In respect to energy, The Crude Oil futures bounced, and are now trading above $53 per barrel.

On the options front, we saw bullish call buying in Express Inc (EXPR) . We also saw bearish option activity on Invesco Mortgage Capital Inc (IVR).

In addition to earnings, Janet Yellen will be delivering her fourth semi-annual monetary policy testimony before Congress. Although it’s not expected to be market moving, it is still worth keeping an eye out on.

Not only that, but the Delivering Alpha hedge fund conference is tomorrow. Some of the brightest minds in the industry will be on display, sharing their thoughts on the markets.

Here’s what’s else on tap for tomorrow:

Key Economic Data:
15 July 2015- PPI 8:30 AM ET, Industrial Production 9:15 AM ET
16 July 2015- Jobless Claims 8:30 AM ET, Philly Fed Survey 10:00 AM ET
17 July 2015- CPI 8:30 AM ET, Housing Starts 8:30 AM ET

Key Earnings:
15 July 2015- BAC, BLK, ASML, USB, INTC, KMI, NFLX
16 July 2015- C, DPZ, EBAY, GS, KEY, MTG, PM, PPG, SCHW, SON, TSM, UNH, AMD, GOOGL, MAT, REGN, SLB
17 July 2015- GE, HON, KSU