May 5, 2015 Market Wrap Up

The S&P 500 saw continued selling pressure, closing down over 1%. Many market pundits believe the move was attributed U.S. international trade data, implying the economy might be weaker than expected.

Another possible answer to today’s decline was the weakness out of China. The Shanghai Composite Index dropped over 4%.

With that said, the VIX surged over 11%, closing at 14.31.

On bright spot is the energy market; crude oil futures closed the day relatively strong; the United States Oil ETF (USO) settled in at $20.75, good for a gain of over 2%.

On the options front, we saw bullish call buying in Vale SA (VALE), SalesForce.com Inc (CRM). Bearish option bets were made in Viacom Inc (VIAB).

Here’s what’s on tap for the rest of the week:

Key Economic Data:
7 MAY 2015- Jobless Claims 8:30 AM ET
8 MAY 2015- Employment Situation 10:00 AM ET

Key Earnings:
6 MAY 2015- CHK, LAMR, SODA, WEN, HAIN, GSK, ATML, ATVI, CF, FOXA, MET, MRO, TRIP, TSLA, WFM
7 MAY 2015- APA, APO, BABA, GOOG, LEAF, PCLN, SN, CBS, CYBR, NUAN, OLED, OUTR, SFM, TSO