June 13, 2017 Market Wrap Up

No harm… No foul.

After a volatile session last Friday and a shaky start on Monday, the markets appear to be back to their slow grind up. That said, all eyes will be on the FOMC meeting tomorrow as many market participants are expecting the Fed to raise rates in June.

The VIX sold off about 9%, closing at 10.42.

Index ETF movers: SPDR S&P 500 ETF (SPY) +0.49%, iShares Russell 2000 (IWM) +0.51%, SPDR Dow Jones Industrials Average ETF (DIA) +0.46%, and PowerShares QQQ ETF (QQQ) +0.81%

Commodity and futures related ETF movers: United States Oil Fund (USO) +0.74%, iShares 20+ Year Treasury Bond (TLT) +0.02%. SPDR Gold Shares (GLD) -0.05%.

On the options front, we saw large call buying activity in El Pollo Loco (LOCO), which traded 13.2 times normal option volume. In addition, we saw heavy put buying in Bloomin Brands Inc (BLMN), which traded 94.2 times normal option volume.

Key Economic Data:
14 June 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET: FOMC Meeting Announcement 2:00 PM EST
15 June 2017- Jobless Claims; Philly Fed Survey; Industrial Production 9:15 AM ET
16 June 2017- Housing Starts 8:30 AM ET

Key Earnings:
14 June 2017- JBL, LAKE, CRWS
15 June 2017- FNSR, KR

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