July 30, 2015 Market Wrap Up

The S&P 500 closed relatively flat today; however, it was good enough to extend the winning streak to three days.

At the moment, China headlines and earnings releases are what most traders are focused on. With that said, we saw Facebook (FB) sell off yesterday after their earnings release. This evening we got earnings from LinkedIn Corporation (LNKD) -6% and FireEye Inc (FEYE) -5%.

Social media stocks have struggled this earnings, we’ve seen weakness in Twitter, Facebook, Yelp, and now LinkedIn.

The VIX sold off slightly, closing at 12.14, down nearly 3%.

The energy market has been pretty stable this week; however, crude oil futures are trading below $50 per barrel. Tomorrow we’ll be receiving earnings from Chevron and Exxon Mobil.

On the options front, we saw bullish call buying in Whiting Petroleum Corp (WLL). We also saw bearish option activity in Taser International Inc (TASR).

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

Key Earnings:
31 July 2015- CBOE, CVX, KCG, NWL, PSX, RLGY, STX, TYC, WY, XOM