April 19, 2016 Market Wrap Up

The market was relatively mixed today, with the Dow Jones Industrials, S&P 500 trading higher, while, the Nasdaq closed lower due to some poor earnings results in some heavily weighted companies like Netflix.

The VIX sold off a little bit, closing the day at 13.24. This the fourth straight close under 14, and the second lowest closing print of the year.

Crude Oil has had a nice bounce off Sunday’s lows, following an unproductive Doha meeting. WTI Crude closed the day above 41, at 41.08.

On the options front, we saw large call buying activity in Deere & Co. (DE). In addition, we saw heavy put buying in Cardinal Health (CAH), which saw 6.2 times usual options volume.

Stocks in play included: IBM (IBM) -5.6%, Netflix (NFLX) -12.9%, and SeaDrill (SDRL) +12.9%

Here’s what’s left this week:

Key Economic Data:
20 April 2016- Existing Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
21 April 2016- Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET

Key Earnings:
20 April 2016- ABT, ARMH, ASML, CHKP, EMC, CP, KO, HBAN, ITW, SAP, TUP, USB, AXP, CCK, CTXS, FFIV, MAT, NEM, QCOM, SYK, YUM, VMI
21 April 2016- ALK, BBT, BIIB, BK, CFG, DGX, DHI, FCS, FITB, GM, KCG, KEY, LUV, PPG, PHM, SHW, UA, UNP, VZ, AMD, GOOGL, MSFT, SBUX, SWN, V, SLB
22 April 2016- CAT, GE, KMB, MCD, SYF, STI