December 20, 2016 Market Wrap Up

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The markets continued to push higher today as it seems almost inevitable that this will be the path we take up until the end of the year. The only drama at the moment is if and when the Dow Jones Industrials close above the 20k mark. At the close of the day, the Dow Jones Industrials closed at 19,974, close, but no cigar.

Judging by the VIX, there isn’t much fear at the moment, it closed below 12, at 11.45.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.04%, iShares 20+ Year Treasury Bond (TLT) -0.50%, SPDR Gold Shares (GLD) -.74%.

Stocks in play today included: Rite Aid (RAD) +5.39% and Fred’s, Inc. (FRED) +81.08%.

It was announced early in the morning that Fred’s would be buying 865 stores from Rite Aid at what many market participants viewed as a deal. In addition, this likely eliminates antitrust issues facing the Walgreens purchase of Rite Aid.

On the options front, we saw large call buying activity in Webster Financial Corporation (WBS), which traded 19.2 times normal option volume. In addition, we saw heavy put buying in Endurance International Group Holdings (EIGI), which saw 153 times normal options volume.

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

Key Economic Data:
21 Dec 2016- Existing Home Sales 10:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
22 Dec 2016- Durable Goods Orders 8:30 AM ET, GDP 8:30 AM ET, Philly Jobless Claims 8:30 AM ET, Personal Income and Outlays 10:00 AM ET
23 Dec 2016- New Home Sales 10:00 AM ET

Key Earnings:
19 Dec 2016- LEN
20 Dec 2016- BBRY, CCL, DRI, FDS, GIS, KMX, NAV, FDX, NKE, SCS
21 Dec 2016- ACN, FINL, LNN, PAYX, CAMP, BBBY, MU, RHT
22 Dec 2016- CAG

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December 18, 2016 The Week Ahead

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The S&P 500 and Nasdaq traded slightly lower on the week. However, the Dow Jones Industrial Average managed to have its sixth straight week of gains. All in all, major indices are all hanging around 52-week highs as we approach the Christmas holiday.

Being that it is Christmas week, one could expect volumes to lighten and volatility to be relatively low. No surprise, with the VIX closing at 12.20 on Friday.

Crude oil futures prices were nearly 1% higher on the week, as they are not to far off 52-week highs. Sentiment has been bullish ever since Non-OPEC and OPEC members agreed to make production costs.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.96%, iShares 20+ Year Treasury Bond (TLT) -0.31%, SPDR Gold Shares (GLD) -2.13%.

Here are some important events worth watching during the week:

Key Economic Data:
21 Dec 2016- Existing Home Sales 10:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
22 Dec 2016- Durable Goods Orders 8:30 AM ET, GDP 8:30 AM ET, Philly Jobless Claims 8:30 AM ET, Personal Income and Outlays 10:00 AM ET
23 Dec 2016- New Home Sales 10:00 AM ET

Key Earnings:
19 Dec 2016- LEN
20 Dec 2016- BBRY, CCL, DRI, FDS, GIS, KMX,NAV, FDX, NKE, SCS
21 Dec 2016- ACN, FINL, LNN, PAYX, CAMP, BBBY, MU, RHT
22 Dec 2016- CAG

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December 11, 2016 The Week Ahead

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The S&P 500 had another impressive week, gaining more than 3% and up 6% over the last 30 days. On the other hand, the Russell 2000 has been even more impressive, gaining nearly 6% on the week and almost 16% over the last 30 days. With that said, all eyes are focused in on the FOMC and how the market will react to a widely anticipated rate hike.

Based on how the VIX close on Friday, there is very little fear in the market at the moment. The VIX is now trading below 12, and closed at 11.75 on Friday.

Crude oil futures prices were relatively flat on the week after last week’s surge to near 52-week highs. They’re trading above $50 per barrel and threatening to take out this year’s highs.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.35%, iShares 20+ Year Treasury Bond (TLT) -1.77%, SPDR Gold Shares (GLD) -1.56%.

Here are some important events worth watching during the week:

Key Economic Data:
14 Dec 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting 2:00 PM ET, FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
15 Dec 2016- Consumer Price Index 8:30 AM ET, Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET
16 Dec 2016- Housing Starts 8:30 AM ET

Key Earnings:
12 Dec 2016- KMG, RENN, STRP, PAY
13 Dec 2016- GMS, HEI
14 Dec 2016- APOG, ARWR, JOY, LAKE, PIR,
15 Dec 2016- AIR, ADBE, JBL, NAV, ORCL, RAD, SAFM, SCHL
16 Dec 2016- CCL

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December 8, 2016 Market Wrap Up

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The S&P 500 continued to move higher today, as the Santa Claus rally continues to be on schedule. The darling of the market continues to be the Russell 2000, it gained more than 1.5% today. The Russell 2000 Index ETF (IWM) is nearly up 15% on the month.

Despite the market moving higher, we saw some hedgers come in, the VIX was up more than 3.4% and closed at 12.64.

Stocks in play today included: Wynn Resorts (WYNN) -10.8%, Las Vegas Sands (LVS) -12.72%, Majesco Entertainment (COOL) +65%, Express Scripts Holdings (ESRX) -6.8%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.89%, iShares 20+ Year Treasury Bond (TLT) -1.25%, SPDR Gold Shares (GLD) -0.19%.

On the options front, we saw large call buying activity in Tractor Supply Company (TSCO), which traded 5.9 times normal option volume. In addition, we saw heavy put buying in Northern Trust Corporation (NTRS), which saw 6.6 times normal options volume.

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

Key Earnings:
9 Dec 2016- MTN

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December 6, 2016 Market Wrap Up

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The S&P 500 continued to chug along, and the Russell 2000 reached an intraday high during today’s session. All eyes are on the FOMC meeting next week. As of now, the market is pricing in a rate hike. With that said, trading volumes are expected to dry out as we approach the holiday season. For example, today was about half the volume we normally see in the SPDR S&P 500 ETF (SPY).

This can be seen with what’s been going on in the VIX. The VIX closed below 12, at 11.79 today.

Crude oil futures snapped a four-day winning streak, however; they’ve been on an absolute tear following the OPEC announcement last week, trading above $50 per barrel.

On the options front, we saw large call buying activity in Tableau Software (DATA), which traded 2.8 times normal option volume. In addition, we saw heavy put buying in PharmAthene (PIP), which saw 9.8 times normal options volume.

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

Key Economic Data:
7 Dec 2016- EIA Petroleum Status Report 10:30 AM ET
8 Dec 2016- Jobless Claims 8:30 AM ET

Key Earnings:
7 Dec 2016- LULU, XRX, COST, HRB, UNFI
8 Dec 2016- CIEN, FRED, HOV, VNCE, AVGO, FNSR
9 Dec 2016- MTN

Key Conferences:
Goldman Sachs European Industrials Conference (runs till 11/7); KeyBanc Consumer Conference (runs till 11/7); UBS Media Communications Conference (runs till 11/7); Raymond James Technology Conference (runs till 11/7)
Cowen Energy & Natural Resources Conference (runs till 11/7); Goldman Sachs Financial Services Conference (runs till 11/7)
7 Dec 2016- Barclay’s Technology Conference (runs till 11/8); Citigroup Healthcare Conference (runs till 11/8)

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December 4, 2016 The Week Ahead

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The S&P 500, Nasdaq, and Russell 2000 all closed the week lower after posting several weeks of impressive gains. It’s too early to tell whether this is the beginning of something more significant or simply just a pull back from record highs. One things for sure, there isn’t much on the schedule in terms of domestic economic events and earnings.

In respect market volatility, the VIX closed at 14.12 on Friday.

With that said, traders will closely be watching the ECB Policy Meeting, as well as comments out of President-Elect Trump. He’s made some recent comments on potentially taxing domestic businesses that leave the U.S. and try to sell their products back into the country. Of course, this could impact some publicly traded companies dramatically.

Crude oil futures responded well following the OPEC meeting. Crude oil futures prices rose more than 12% and are not to far off from 52-week highs. Energy related companies also saw huge bid as well.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +11.3%, iShares 20+ Year Treasury Bond (TLT) -1.01%, SPDR Gold Shares (GLD) -0.42%.

Here are some important events worth watching during the week:

Key Economic Data:
6 Dec 2016- International Trade 8:30 AM ET
7 Dec 2016- EIA Petroleum Status Report 10:30 AM ET
8 Dec 2016- Jobless Claims 8:30 AM ET

Key Earnings:
5 Dec 2016- COUP
6 Dec 2016- AZO, BMO, BOBE, HDS, MIK, TOL, PLAY, SIGM
7 Dec 2016- LULU, XRX, COST, HRB, UNFI
8 Dec 2016- CIEN, FRED, HOV, VNCE, AVGO, FNSR
9 Dec 2016- MTN

Key Conferences:
5 Dec 2016- Barclays Discretionary Conference (runs till 11/6); Goldman Sachs European Industrials Conference (runs till 11/7); KeyBanc Consumer Conference (runs till 11/7); UBS Media Communications Conference (runs till 11/7); Raymond James Technology Conference (runs till 11/7)
6 Dec 2016- Cowen Energy & Natural Resources Conference (runs till 11/7); Goldman Sachs Financial Services Conference (runs till 11/7)
7 Dec 2016- Barclay’s Technology Conference (runs till 11/8); Citigroup Healthcare Conference (runs till 11/8)

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December 1, 2016 Market Wrap Up

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The S&P 500 closed the day lower, however; some sectors performed much better than others. For example, we saw a lot of weakness in tech stocks, the Nasdaq was down 1.36% on the day. While energy related names did fairly well off the momentum of yesterday’s OPEC meeting.

With that said, we saw a bid in the VIX, as it closed above 14, at 14.07.

Crude oil futures have been on an absolute tear over the last two days off the strength of the OPEC meeting. They’re now trading above $50 per barrel and just 5% off the year to date highs. Overall, crude oil futures are up more than 12% over the last two sessions.

On the options front, we saw large call buying activity in Microsemi Corp (MSCC), which traded 2.4 times normal option volume. In addition, we saw heavy put buying in McCormick and Co (MKC), which saw 15.9 times normal options volume.

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

Key Economic Data:
2 Dec 2016- Employment Situation 8:30 AM ET

Key Earnings:
2 Dec 2016- BIG, FRED

Key Conferences:
Credit Suisse Tech, Media and Telecom Conference
Bank America Auto Dealer Day Conference

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November 29, 2016 Market Wrap Up

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The S&P 500 closed the day positive on relatively low trading volume. Overall, it was a really slow day in terms of news. In the background, traders were paying attention to what was being said at the Robin Hood Conference. In addition, they were also reacting to headlines from OPEC affiliates, as OPEC is set to meet tomorrow.

With little going on, the VIX sold off mildly, closing the day below 13, at 12.90.

Crude oil futures gave up all of yesterday’s gains, and then some. Per usual, mixed signals out of OPEC had traders feeling like it might be difficult for the cartel to come to an agreement. Of course, these OPEC meetings are pure wild cards. We’ll just have to wait and see what happens tomorrow.

On the options front, we saw large call buying activity in Zayo Group Holdings (ZAYO), which traded 3.3 times normal option volume. In addition, we saw heavy put buying in Michaels Companies (MIK), which saw 30.3 times normal options volume.

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

Key Economic Data:
30 Nov 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
1 Dec 2016- Jobless Claims 8:30 AM ET, ISM Mfg Index 10:00 AM ET
2 Dec 2016- Employment Situation 8:30 AM ET

Key Earnings:
30 Nov 2016- AEO, TITN, BOX, BV, GES, LZB, NQ, PVH, SMTC
1 Dec 2016- CIBC, DG, EXPR, KR, AMBA, ASNA, GII FIVE, SWHC, ULTA, WDAY, ZUMZ
2 Dec 2016- BIG, FRED

Key Conferences:
28 Nov 2016- Bank of America Merrill Lynch Leveraged Finance Corporation Conference (runs till 11/30); Credit Suisse Tech, Media and Telecom Conference (runs till 12/2)
29 Nov 2016- Citigroup Basic Materials Conference (runs till 12/1); Jefferies Energy Conference (runs till 11/30); Piper Healthcare conference (runs till 11/30); FBR Investor Conference; FBR Investor Conference
30 Nov 2016- Credit Suisse 4th Annual Industrials Conference (runs till 12/1); JPMorgan Financial Tech & Speciality Forum
2 Dec 2016- Bank America Auto Dealer Day Conference

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November 27, 2016 The Week Ahead

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The S&P 500 closed the week on record highs on a shortened trading week. However, stealing some spotlight has been the Russell 2000, which is now running on a 15-session winning streak. It’s up an impressive 20% on the year. The Nasdaq also performed well, gaining nearly 1% on the week, however; it was on very light trading volume.

Market participants will closely be watching the retail sales numbers that come out of Black Friday and Cyber Monday. There are also a decent amount of retailers reporting earnings as well. You can find the earnings schedule below.

In other news, OPEC will meeting on November 30th. Per usual, these meetings are such wild cards, there is no use in trying to predict how they will turn out. One thing we should expect is greater volatility in the energy stocks and futures.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +2.02%, iShares 20+ Year Treasury Bond (TLT) -0.34%, SPDR Gold Shares (GLD) -3.07%.

Here are some important events worth watching during the week:

Key Economic Data:
29 Nov 2016- GDP 8:30 AM ET
30 Nov 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
1 Dec 2016- Jobless Claims 8:30 AM ET, ISM Mfg Index 10:00 AM ET
2 Dec 2016- Employment Situation 8:30 AM ET

Key Earnings:
28 Nov 2016- VNET,
29 Nov 2016- TIF, MNK, DSX, ADSK, FSC, GWRE, SPLK
30 Nov 2016- AEO, TITN, BOX, BV, GES, LZB, NQ, PVH, SMTC
1 Dec 2016- CIBC, DG, EXPR, KR, AMBA, ASNA, GII FIVE, SWHC, ULTA, WDAY, ZUMZ
2 Dec 2016- BIG, FRED

Key Conferences:
28 Nov 2016- Bank of America Merrill Lynch Leveraged Finance Corporation Conference (runs till 11/30); Credit Suisse Tech, Media and Telecom Conference (runs till 12/2)
29 Nov 2016- Citigroup Basic Materials Conference (runs till 12/1); Jefferies Energy Conference (runs till 11/30); Piper Healthcare conference (runs till 11/30); FBR Investor Conference; FBR Investor Conference
30 Nov 2016- Credit Suisse 4th Annual Industrials Conference (runs till 12/1); JPMorgan Financial Tech & Speciality Forum
2 Dec 2016- Bank America Auto Dealer Day Conference

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November 22, 2016 Market Wrap Up

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The S&P 500 closed the day higher, and is now up nearly 1% on the week. With that said, we’re sitting right around 52-week highs. The Dow traded above 19000 for the first time ever, and the Russell 2000 is now up 13-straight days. This is a shortened week for the markets, there will be no trading on Thursday for Thanksgiving, and Friday will be a shortened day as the markets close at 1 PM ET.

Expect volumes to die down. However, the FOMC minutes will be something closely watched tomorrow by traders.

The VIX continues it’s decline and is now trading below 12.50, today it closed at 12.41.

There has been a ton of headline news surrounding crude oil futures, with the OPEC meeting set for later this month. At this point in time, it’s hard to believe any rumors, so we’re in a wait and see mode. Crude Oil futures caught a bid on Monday in hopes of a production cut.

On the options front, we saw large call buying activity in Autoliv (ALV), which traded 23.1 times normal option volume. In addition, we saw heavy put buying in Titan Machinery (TITN), which saw 41.9 times normal options volume.

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

Key Economic Data:
23 Nov 2016- Durable Goods Orders 8:30 AM ET, Jobless Claims 8:30 AM ET, New Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Minutes 2:00 PM
25 Nov 2016- International Trade In Goods 8:30 AM ET

Key Earnings:
23 Nov 2016- DE

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