May 7, 2015 Market Wrap Up

The S&P 500 saw a small bounce today, closing up, less than .5%. With that said, the VIX didn’t move much, closing at 15.13. In individual stock news, we got some reactions to recent earnings releases from Alibaba Group Holding Limited (BABA) +7.5%, Priceline Group Inc (PCLN) -4%, and Tesla Motors (TSLA) +2.8% to name a few.

One strong sector this week has been in the energy group; however, crude oil futures closed the day relatively weak; the United States Oil ETF (USO) settled in at $20.20, good for a 3% decline.

On the options front, we saw bullish call buying in Kinross Gold Corporation (KGC) and Cabelas Incorporated (CAB). Bearish option bets were made in Yingli Green Energy Holding Company Limited (YGE).

Other stocks in play today were Yelp Inc (YELP) +23%, Xilinx Inc (XLNX) +0.59%, and Monsanto (MON) +2.43%. These names were all associated with takeover chatter.

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

Key Economic Data:
8 MAY 2015- Employment Situation 10:00 AM ET