July 23, 2015 Market Wrap Up

The S&P 500 sold off today, but more importantly, the Dow Jones Industrials turned negative for the year. With the likes of Apple, Microsoft, and American Express all disappointing, it shouldn’t come to much surprise.

With that said, the VIX had a small spike, rising over 4%, closing at 12.64.

The commodities sector has been getting a lot of attention recently, most specifically, gold and crude oil. Gold futures are near multi-year lows, trading below 1100 an ounce. Also, crude oil futures are nearly at 3-month lows.

In the after-hours, we got earnings results from Amazon and Starbucks. Wall Street reacted positively to both companies, with Amazon up 17% and Starbucks up 4%.

On the options front, we saw bullish call buying in Hewlett-Packard (HPQ). We also saw bearish option activity in Lifelock (LOCK).

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

Key Economic Data:
24 July 2015- New Home Sales 10:00 AM ET

Key Earnings:
24 July 2015- ABBV, B, BIIB, JCI