August 20, 2017 The Week Ahead

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Markets sold off for the second straight week, despite concerns between the U.S. and North Korea easing. The political focus was on the President and how he was handling the hate crime that happened in Charlottesville, Virginia. In addition, key figures leaving his administration.

These political waves did add to volatility but simmered down by the end of the week. The VIX cooled off a little after trading above 17 this week, closing at 14.26 on Friday.

graph
Source: TradingView

Earnings coming out for the week include: CRM, HPQ, INTU, GME, BRCD, ADSK, and VMW

Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) -0.58%, iShares Russell 2000 (IWM) -1.14%, SPDR Dow Jones Industrials Average ETF (DIA) -0.99%, and PowerShares QQQ ETF (QQQ) -0.61%

Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -0.20%, iShares 20+ Year Treasury Bond (TLT) +0.15%, SPDR Gold Shares (GLD) -0.40%.

Below you’ll find what is else is on the schedule for the week:

Economic Releases:
23 Aug 2017- New Home Sales 10:00 AM ET; EIA Petroleum Status Report 10:30 AM ET
24 Aug 2017- Jobless Claims 8:30 AM ET, PMI 9:45 AM ET; Existing Home Sales 10:00 AM ET
25 Aug 2017- Durable Goods Orders 8:30 AM ET

Key Earnings:
21 Aug 2017- FN, RT, ZAYO
22 Aug 2017- COTY, DSW, JASO, MDT, MOMO, TOL, CREE, CRM, INTU, LZB, VNET
23 Aug 2017- EXPR, LOW, RBC, GES, HPQ, LCI, PVH, TLYS
24 Aug 2017- ANF, DLTR, MIK, SAFM, SIG, SJM, TIF, TUES, ADSK, AVGO, BRCD, GME, MRVL, SPLK, ULTA, VEEV, VMW

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October 6, 2016 Market Wrap Up

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The S&P 500 grinded higher on less than normal volume today. As mentioned yesterday, we’re sitting close to all-time highs. This, of course, sets the stage for tomorrow’s employment situation numbers. Interestingly, the SPDR S&P 500 ETF (SPY) is only implying a .6% move for tomorrow.

Stocks in play today included: Twitter (TWTR) -20%, Salesforce.com (CRM) +4.2%, Alnylam Pharmaceuticals (ALNY) -48.4%, and Genco Shipping (GNK) +47%.

The VIX closed below 13, dropping nearly 2% and closing at 12.84.

Crude oil futures prices climbed above $50 per barrel and are now sitting around 3-month highs. Again, this sets the stage for an interesting OPEC meeting which is set for Oct 8 to Oct 13. The meeting will on the Algiers deal which was informally agreed upon recently.

On the options front, we saw large call buying activity in MasTec (MTZ), which traded 24.3 times normal option volume. In addition, we saw heavy put buying in Dynergy (DYN), which saw 7.2 times normal options volume.

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

Key Economic Data:
7 Oct 2016- Employment Situation 8:30 AM ET

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October 5, 2016 Market Wrap Up

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The S&P 500 bounced back after a two-day sell off. However, it’s worth noting that volumes were well below average. With that said, the S&P 500 is less than 2% shy of all-time highs. In respect to the Nasdaq, it’s even closer to all-time highs.

Stocks in play today included: Twitter (TWTR) +5.6%, Salesforce.com (CRM) -5.8%, Resolute Energy (REN) +20%, and KBR (KBR) +12.4%

The VIX closed below 13, dropping 3.4% on the day.

Oil prices are off to another hot start, up 3% on the week and closing in on 3-month highs. One can attribute the gains to bullish readings out of the API and DOE inventory reports.

On the options front, we saw large call buying activity in EP Energy (EPE), which traded 16.8 times normal option volume. In addition, we saw heavy put buying in Booz Allen Hamilton (BAH), which saw 20.3 times normal options volume.

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

Key Economic Data:
6 Oct 2016- Jobless Claims 8:30 AM ET
7 Oct 2016- Employment Situation 8:30 AM ET

Key Earnings:
6 Oct 2016- HELE, RT

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August 25 2016 Market Wrap Up

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The S&P 500 closed relatively flat, but still down on the day. A lot of attention has been in medical stocks, as politicians are criticising their business model and even accusing them of using aggressive and unethical pricing methods on drugs. However, attention should focus back to the Jackson Hole meeting, as Fed Chairperson Yellen is set to give a speech. In addition, GDP numbers will be released before the start of the US session.

Stocks in play today include: Dollar General (DG) -17.6%, Signet Jewelers (SIG) -12.6%, St. Jude Medical (STJ) -4.96%, and Mylan (MYL) -.70%

Over the last couple of trading sessions we’ve seen a slight bid in the VIX, closing higher for the second straight day at 13.63.

Crude oil futures bounced back a little from yesterday’s pullback, climbing more than 1% and closing above $47 per barrel.

On the options front, we saw large call buying activity in Salesforce COM (CRM), which traded 2.3 times normal option volume. In addition, we saw heavy put buying in St Jude Medical (STJ) 60 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
26 Aug 2016- GDP 8:30 AM ET, International Trade in Goods 8:30 AM ET

Key Earnings:
26 Aug 2016- BIG

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October 13, 2015 Market Wrap Up

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October 13, 2015 Market Wrap Up

The S&P 500 closed the day slightly lower; however, volume was extremely light. The SPDR S&P traded less than 87 million shares compared to the typical 140-150 million shares we’ve been used to seeing. In respect to the Dow Jones Industrials, its 7-day winning streak was snapped.

With that said, the VIX finally showed some life. It was up over 9% and is now at 17.67.

The energy sector was weak; the United States Oil Fund (USO) was down nearly 2%.

On the options front, we saw bullish call buying in Salesforce.com (CRM). Options that saw bearish put buying in KLA Tencor Corporation (KLAC).

This evening we got earnings from Intel (INTC) -.2% and JPMorgan Chase (JPM) -1%.

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