January 24, 2017 Market Wrap Up

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The markets closed the day relatively strong. The S&P 500, Dow Jones Industrials, Nasdaq, and Russell 2000 all finished green. With that said, the Dow Jones Industrials are less than 100 points from 20k.

Some strong earnings performers included: Alibaba Group (BABA), Du Pont (DD), and Kimberly Clark (KMB)

Some weak earnings performers included: Johnson & Johnson (JNJ) and AK Steel (AKS)

The VIX continues to move lower, it closed at 11.07, down nearly 6% on the day.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.44%, iShares 20+ Year Treasury Bond (TLT) -0.69%, SPDR Gold Shares (GLD) -0.45%.

On the options front, we saw large call buying activity in CONE Midstream Partners (CNNX), which traded 15.3 times normal option volume. In addition, we saw heavy put buying in LSB Industries Inc (LXU), which traded 10.5 times normal option volume.

Earnings will continue to be the theme for the rest of the week and the next couple. Check below:

Key Economic Data:
25 Jan 2017- EIA Petroleum Status Report 10:30 AM ET
26 Jan 2017- International Trade in Goods 8:30 AM ET, Jobless Claims 8:30 AM ET, New Home Sales 10:00 AM ET

Key Earnings Release Dates:
25 Jan 2017- BA, EAT, FCX, HBAN, HES, PG, NSC, NVS, NYCB, PGR, ROK, SC, STT, TXT, UTX, CCI, EBAY, FFIV, LRCX, LVS, MCK, PUB, QCOM, URI, VRTX, WDC
26 Jan 2017- AEP, ALK, BHI, CAT, CELG, DGX, DOV, DOW, F, HP, JBLU, LEA, LLL, LUV, MJN, NOC, RCI, EFTC, FLEX, GOOG, INTC, JNPR, KLAC, MSFT, PYPL, SBUX, SYNA, SWFT, VMW
27 Jan 2017- ABBV, APD, BEN, CL, CVX, HON, UBS

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November 23, 2016 Market Wrap Up

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The S&P 500, Dow, and Russell 2000 closed on record highs today. Of course, volume was light ahead of Thanksgiving. The big economic news was the release of the FOMC minutes. At the moment, the market is pricing in a rate hike for the December meeting. In addition, the dollar index saw its highest close in over a decade.

The VIX was relatively unchanged as it closed at 12.43.

Crude oil futures were relatively unchanged, all eyes will be on next week’s OPEC meeting. Overall, crude oil futures are up on the week in hopes that the meeting results in some type of production cut.

On the options front, we saw large call buying activity in ON Semiconductor (ON), which traded 13.8 times normal option volume. In addition, we saw heavy put buying in Waste Connections (WCN), which saw 9.9 times normal options volume.

The markets are closed tomorrow for the Thanksgiving holiday and will be open till 1 PM ET on Friday. With that said, have a happy and safe Thanksgiving!

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

Key Economic Data:
25 Nov 2016- International Trade In Goods 8:30 AM ET

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September 8, 2016 Market Wrap Up

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The S&P 500 closed the day lower as volume is starting to slowly creep up. With that said, volatility has been virtually non-existent. We’ve more than 2 months worth of trading where S&P 500 has not had a +/- 1% move. As mentioned the other day, volatility should pick up as we near some catalysts later in the month.

Stocks in play today included: Western Refining Logistics (WNRL) -8%, Twitter (TWTR) -6%, Transocean (RIG) +5.4%, and Clovis Oncology (CLVS) +15%

The VIX caught a bid, however; it’s still trading below 13, and closing at 12.51.

Crude oil futures prices caught a bid today after a larger than expected drawdown in weekly inventory numbers. Crude oil futures are up over 9% during the last four trading sessions.

On the options front, we saw large call buying activity in Dow Chemical (DOW), which traded 4.4 times normal option volume. In addition, we saw heavy put buying in Accenture (ACN), which was 4.3 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Earnings:
9 Sep 2016- EROS, KR

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June 28, 2016 Market Wrap Up

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The S&P 500 caught its first bounce after the Brexit announcement, as it closed up more than 35 points, a gain of nearly 1.8%. Not only that, but the VIX came under attack as it dropped more than 20% and closing below 19.

Stocks in play today include: comScore, Inc (SCOR) $23.83 (-18.96%), Dow Chemical Company (DOW) $48.50 (-2.04%), PayPal Holdings (PYPL) $35.24 (+3%), and Splunk, Inc. (SPLK) $53.34 (+4.65%).

Despite the anemic volume, the VIX actually grinded up, closing at 14.64.

Crude oil futures closed about %3 higher at $47.85.

On the options front, we saw large call buying activity in Travelport Worldwide Limited (TVPT), which traded 8.1 times normal volume. We also saw a ton of bearish bets being placed in Clovis Oncology Inc (CLVS), which traded 2.2 times usual volume.

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

Key Economic Data:
29 June 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
30 June 2016- Jobless Claims 8:30 AM ET
01 July 2016- ISM Mfg Index 10:00 AM ET

Key Earnings:
29 June 2016- GIS, MON, PIR
30 June 2016- CAG, DRI, LNN, STZ, MU, MKC

Key Events:
JPMorgan Media & Telecoms CEO Conference (runs till 6/29)