September 14, 2016 Market Wrap Up
The S&P 500 was not able to hold onto gains today, as it closed slightly lower. The market is relatively flat on the week as it awaits the highly anticipated FOMC announcement next week. One thing is for sure, we’re starting to see more volatility as witnessed by the surge in the VIX over the last four trading days.
Stocks in play today included: Herbalife (HLF) +3.9%, Apple (AAPL) +3.5%, and Monsanto (MON) +0.39%
The VIX caught a bid and is now trading above 18.
Crude oil futures prices are having a rough week thus far. They’re down nearly 6% on the week, and down about 3% today.
On the options front, we saw large call buying activity in LyondellBasell Industries (LYB), which traded 3.9 times normal option volume. In addition, we saw heavy put buying in Level 3 Communications (LVLT), which was 5.5 times normal options volume.
Here’s what’s on tap for tomorrow and Friday:
Key Economic Data:
15 Sep 2016- Jobless Claims 8:30 AM ET, PPI 8:30 AM ET, Retail Sales 8:30 AM ET, Philly Fed Survey 8:30 AM ET, Industrial Production 9:15 AM ET
16 Sep 2016- Consumer Price Index 8:30 AM ET
Key Earnings:
15 Sep 2016- ORCL
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