June 15, 2017 Market Wrap Up

June 15, 2017 tvcuser Education, Trading AKS, DEPO, DIA, GLD, IWM, QQQ, S&P 500, SPY, TLT, USO, VIX

We saw a broad market sell off today in all major indices. However, volumes were below average, a day after the FOMC decided to raise the key interest rate. That said, we should see some added volatility near the close as tomorrow is Quad Witch and the quarterly rebalance of the S&P 500.

The VIX moved up 2.44% higher, closing at 10.90.

Index ETF movers: SPDR S&P 500 ETF (SPY) -0.19%, iShares Russell 2000 (IWM) -0.51%, SPDR Dow Jones Industrials Average ETF (DIA) -0.07%, and PowerShares QQQ ETF (QQQ) -0.44%

Commodity and futures related ETF movers: United States Oil Fund (USO) -0.54%, iShares 20+ Year Treasury Bond (TLT) -0.16%, SPDR Gold Shares (GLD) -0.42%.

On the options front, we saw large call buying activity in AK Steel Holding (AKS), which traded 3.4 times normal option volume. In addition, we saw heavy put buying in Depomed Inc (DEPO), which traded 4.0 times normal option volume.

Key Economic Data:
16 June 2017- Housing Starts 8:30 AM ET

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May 4, 2016 Market Wrap Up

May 4, 2016 tvcuser Education, Trading BGCP, Crude Oil, Data, DEPO, Earnings, Economic, FIT, OZRK, PEGI, S&P 500, SCTY, TSLA, VIX, WFM

The S&P 500 sold off for the second consecutive day, and is now down more than .5% on the week so far. Some attribute this to some weak economic data, as we saw a drop in imports today.

Some of the highlights today included comments out the Sohn Investment Conference. A meeting of some of the sharpest minds on wall street, presenting their top picks for the year. With that said, we saw a decent amount of volatility in individual stocks mentioned; as traders and machine reading algos reacted to the conference.

Names mentioned included: Bank Of The Ozarks (OZRK) -4.2%. Solarcity (SCTY) -9.2%, and Depomed (DEPO) -1.1%

The VIX caught a bid, closing the day at 16.05, an increase of nearly 3%.

Crude Oil is down around 5% over the last 4 trading sessions. However, it did manage to bounce back from earlier lows, despite seeing a higher than expected build out the DOE report.

On the options front, we saw large call buying activity in BGC Partners (BGCP). In addition, we saw heavy put buying in Pattern Energy Group (PEGI), which saw 6.7 times usual options volume.

This evening we got earnings out of Tesla (TSLA) +0.5%, Whole Foods Market (WFM) +2.9%, and Fitbit (FIT) -11.7% to name a few.

Here’s what’s left for the rest of the week:

Key Economic Data:
5 May 2016– GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
6 May 2016– Employment Situation 8:30 AM ET

Key Earnings:
5 May 2016– APO, AVP, BABA, CHK, DDD, DISCA, FIG, G, ITG, K, LXP, MGM, MRK, OA, REGN, SEAS, WFT, ANET, ATVI, DATA, DWA, ENDP, FEYE, GPRO, HLF, MDVN, OLED, POST, TRUE, UBNT, YELP
6 May 2016– AGN, WLTW, WY, EXC