September 29, 2016 Market Wrap Up

September 29, 2016 tvcuser Education, Trading BHI, CS, DB, Economic Data, NXPI, QCOM, S&P 500, VIX

The S&P 500 sold off nearly 1%, as financial stocks were the main culprit. News out of Europe indicates that some of their banks might have exposure to too much risk. With the Wells Fargo scandal still fresh on the mind of traders, it didn’t take much for fears to enter the market.

Stocks in play today included: Deutsche Bank (DB) -6.7%, Credit Suisse (CS) -4.4%, NXP Semiconductors (NXPI) +17%, and Qualcomm (QCOM)

The VIX surged more than 13%, climbing 1.63 pts and closing at 14.02.

Oil prices continued their strength despite some worries that the OPEC cut agreement might not stick. With that said, the futures were up 1.4% today, adding to the more than 7% gains on the week.

On the options front, we saw large call buying activity in Baker Hughes (BHI), which traded 5.1 times normal option volume. In addition, we saw heavy put buying in Deutsche Bank (DB), which saw 9.6 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
30 Sep 2016- Personal Income and Outlays 8:30 AM ET

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February 9, 2016 Market Wrap Up

February 9, 2016 tvcuser Education, Trading Conferences, Data, DB, Earnings, Economic, ETE, FLY, S&P 500, VIAB, VIX, ZIOP

It was a pretty dull day in the markets, given all the volatility we’ve seen lately. The S&P 500 was virtually unchanged. It appears that traders are waiting for tomorrow, as Janet Yellen takes the stage and addresses congress on the state of the economy.

Any chance of a potential rally was thwarted due to the weakness in energy prices. Crude Oil is at the lowest levels of the year. The cash market closed below 28, losing nearly 6% today. We’re down nearly 15% over the last four trading sessions.

Despite heavy selling pressure in oil and the equity market being relatively flat, the VIX didn’t really know where to go. When the smoked clear, it closed above 26.50, a gain of 2%.

On the options front, we saw large call buying activity in Ziopharm Oncology (ZIOP). In addition, we saw heavy put buying in Fly Leasing Limited (FLY), about 5.6 times usual options volume.

Stocks in play included: Viacom (VIAB) -21%, Energy Transfer Equity (ETE) +14.5%, Deutsche Bank (DB) -.8%

As mentioned earlier, traders will be paying attention to FED Chairman Yellen as she testifies to Congress tomorrow.

Also, here’s what else is going on this week:

Key Economic Data:
11 February 2016- Jobless Claims 8:30 AM ET
12 February 2016- Retail Sales 8:30 AM ET

Key Earnings:
10 February 2016- ARMH, TWX, EXPE, IRBT, TWTR, WFM, ZNGA, MYL, LOCK, FNF
11 February 2016- AVP, BTU, BWA, CAG, GNC, K, MOS, NOK, PEP, RIO, SHPG, TAP, TIME, WWAV, AIG, ATVI, CBS, CYBR, FEYE, GRPN, INFN, P, QLIK, RSG

Key Conferences:
8 February 2016- Credit Suisse Financial Services Forum (runs till 2/10)
9 February 2016- Bank America Merrill Insurance Conference (runs till 2/11), Goldman Sachs Tech Conf (runs till 2/11), Goldman Sachs Insurance Conf (runs till 2/11)
10 February 2016- Leerink Healthcare Conference (runs till 2/11)
11 February 2016- KBW Financial Conference (runs till 2/12)