October 18, 2016 Market Wrap Up

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The S&P 500 was off to a solid start gaining more than .6% on below average volume. We got strong earnings reports out of Goldman Sachs, Netflix, and UnitedHealth. However, there were some companies that didn’t fare as well like IBM and Johnson & Johnson.

Stocks in play today included: Banc of California (BANC) -29.05%, Netflix (NFLX) +19.07%, Harley-Davidson (HOG) +9.03%, and Domino’s Pizza (DPZ) +4.89%

The VIX sold off nearly 6% and closed at 15.28.

Crude oil futures prices paired off yesterday’s losses and continue to trade above $50 per barrel.

On the options front, we saw large call buying activity in Iamgold CytRX Corp (CYTR), which traded 41.4 times normal option volume. In addition, we saw heavy put buying in Progressive Corporation (PGR), which saw 5.4 times normal options volume.

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

Key Economic Data:
19 Oct 2016- Housing Starts 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
20 Oct 2016- Jobless Claims 8:30 AM ET, Philly Fed Business Outlook Survey 8:30 AM ET, Existing Home Sales 10:00 AM ET

Key Earnings:
19 Oct 2016- ABT, CP, DOV, GPC, HAL, MS, RAI, STJ, STX, SVU, TUP, USB, AXP, EBAY, CTXS, HNI, GGG, MAT, PKG, SLM, STLD, URI, XLNX
20 Oct 2016- BK, DAN, DGX, DHR, FITB, KCG, NUE, PH, PHM, PPG, TRV, TXT, UNP, VZ, WBA, WBC, AMD, ATHN, EFTC, KLAC, MSFT, MXIM, N, PYPL, RCI, RS, SLB, SWN
21 Oct 2016- GE, HON, IPG, MCD, SYF, SAP, STI, MAN

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October 16, 2016 The Week Ahead

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The S&P 500 closed the week lower, making it two straight losing weeks in the index. Despite the sell-off many of the banks that reported did better than expected. With that said, earnings will be heavily watched this coming week. Some of the highlights include: Netflix, Johnson & Johnson, Microsoft, Intel, McDonald’s, Bank of America, and Goldman Sachs, just to name a few.

On the international front, the European Central Bank will be meeting on the key interest rate.

Despite the market selling off a little… the VIX climbed to 16.12.

Crude oil futures prices rose again during the week as they’re now trading above $50 and very close to 52-week highs. OPEC met during the week, but per usual, good luck trying to get a read on what they’re trying to do. It seems like they’re constantly throwing mixed signals. Now, that doesn’t mean markets won’t react to their comments, just expect to see greater volatility.

Moving on, gold futures prices sold off slightly, making that two straight down weeks. In addition, T-bond futures prices sold off, making that 8 out of 10 losing days.

Here is what else is on the schedule for the upcoming week:

Key Economic Data:
17 Oct 2016- Industrial Production 9:15 AM ET
18 Oct 2016- Consumer Price Index 8:30 AM ET
19 Oct 2016- Housing Starts 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
20 Oct 2016- Jobless Claims 8:30 AM ET, Philly Fed Business Outlook Survey 8:30 AM ET, Existing Home Sales 10:00 AM ET

Key Earnings:
17 Oct 2016- BAC, HAS, JBHT, CE, IBM, NFLX, UAL
18 Oct 2016- BLK, DPZ, GS, HOG, JNJ, KSU, UNH, WWW, TTS, SCHW, PM, RF, MTG, KSU, ADTN, CREE, HA, IBKR, INTC, ISRG, LLTC
19 Oct 2016- ABT, CP, DOV, GPC, HAL, MS, RAI, STJ, STX, SVU, TUP, USB, AXP, EBAY, CTXS, HNI, GGG, MAT, PKG, SLM, STLD, URI, XLNX
20 Oct 2016- BK, DAN, DGX, DHR, FITB, KCG, NUE, PH, PHM, PPG, TRV, TXT, UNP, VZ, WBA, WBC, AMD, ATHN, EFTC, KLAC, MSFT, MXIM, N, PYPL, RCI, RS, SLB, SWN
21 Oct 2016- GE, HON, IPG, MCD, SYF, SAP, STI, MAN

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October 13, 2016 Market Wrap Up

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The S&P 500 continues to see it’s fair share of intraday volatility. Today we traded in nearly a 25 point range, settling .3% lower. Overall, the S&P 500 is down about 1% on the week. With that said, tomorrow should be an interesting day as many of the larger banks report earnings.

Stocks in play today included: Ulta Salon Cosmetics (ULTA) +11%, Tenet Healthcare (THC) +8.8%, and Cabot Oil & Gas (COG) -4.6%

The VIX continues to surge this week, despite the move lower in the market it actually dropped 2.5%, closing at 16.69.

Crude oil futures prices are up more than 1% on the week and trading above $50 per barrel.

On the options front, we saw large call buying activity in Iamgold Corporation (IAG), which traded 25.7 times normal option volume. In addition, we saw heavy put buying in AO Smith Corp (AOS), which saw 3.2 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
14 Oct 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET

Key Earnings:
14 Oct 2016- C, JPM, PNC, WFC

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October 11, 2016 Market Wrap Up

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The S&P 500 saw its fair share of volatility, trading roughly in a 40 point range and closing the day down more than 1.2% In addition, today was one of the rare days where volume in the SPDR S&P 500 traded above its normal average. Earnings kicked off this morning with Alcoa, by most accounts, the quarter was worse than expected. The stock price dropped more than 11% on the day.

The week should pick up in terms of volume and volatility. Tomorrow we have the release of the FOMC minutes along with more earnings, highlighted by the banks on Friday.

Stocks in play today included: Illumina (ILMN) -25%, Rent-A-Center (RCII) -29%, and Apple (AAPL) +.25%

The VIX closed higher at 15.36, up nearly 2 points (14.8%).

Crude oil futures prices dropped about 1%, but still up on the week. The OPEC meeting is still ongoing and set to conclude on Oct 13.

On the options front, we saw large call buying activity in Rayonier Advanced Materials (RYAM), which traded 7.3 times normal option volume. In addition, we saw heavy put buying in Melco Crown Entertainment (MPEL), which saw 5.3 times normal options volume.

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

Key Economic Data:
12 Oct 2016- FOMC Minutes 2:00 PM ET
13 Oct 2016- Jobless Claims 8:30 AM ET; EIA Petroleum Status Report 11:00 AM ET
14 Oct 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET

Key Earnings:
12 Oct 2016- CSX
13 Oct 2016- DAL, LNN, MAR, PGR, AMD, KMG, FRC
14 Oct 2016- C, JPM, PNC, WFC

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October 9, 2016 The Week Ahead

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The S&P 500 closed the week slightly lower on below average trading volume. However, things should pick up as earnings season kicks off on Tuesday with Alcoa. Also, we’ll be getting eps numbers out of some big banks including Wells Fargo and JPMorgan.

Some other big events for the week include the release of the FOMC Minutes and an OPEC Meeting.

Despite the market selling off a little… the VIX didn’t move much, closing the week at 13.48.

Crude oil futures prices rose more than 3% on the week. As mentioned earlier, OPEC will be meeting October 9 to 13th at World Energy Congress. It wouldn’t be a surprise if volatility increases surrounding this event.

Moving on, gold futures prices slipped more than 4% on the week. In addition, T-bond futures prices sold off 5-straight days and closing nearly 2% lower.

Here is what else is on the schedule for the upcoming week:

Key Economic Data:
12 Oct 2016- FOMC Minutes 2:00 PM ET
13 Oct 2016- Jobless Claims 8:30 AM ET; EIA Petroleum Status Report 11:00 AM ET
14 Oct 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET

Key Earnings:
11 Oct 2016- AA, FAST, CUDA, HAWK, VOXX
12 Oct 2016- CSX
13 Oct 2016- DAL, LNN, MAR, PGR, AMD, KMG, FRC
14 Oct 2016- C, JPM, PNC, WFC

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October 6, 2016 Market Wrap Up

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The S&P 500 grinded higher on less than normal volume today. As mentioned yesterday, we’re sitting close to all-time highs. This, of course, sets the stage for tomorrow’s employment situation numbers. Interestingly, the SPDR S&P 500 ETF (SPY) is only implying a .6% move for tomorrow.

Stocks in play today included: Twitter (TWTR) -20%, Salesforce.com (CRM) +4.2%, Alnylam Pharmaceuticals (ALNY) -48.4%, and Genco Shipping (GNK) +47%.

The VIX closed below 13, dropping nearly 2% and closing at 12.84.

Crude oil futures prices climbed above $50 per barrel and are now sitting around 3-month highs. Again, this sets the stage for an interesting OPEC meeting which is set for Oct 8 to Oct 13. The meeting will on the Algiers deal which was informally agreed upon recently.

On the options front, we saw large call buying activity in MasTec (MTZ), which traded 24.3 times normal option volume. In addition, we saw heavy put buying in Dynergy (DYN), which saw 7.2 times normal options volume.

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

Key Economic Data:
7 Oct 2016- Employment Situation 8:30 AM ET

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October 5, 2016 Market Wrap Up

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The S&P 500 bounced back after a two-day sell off. However, it’s worth noting that volumes were well below average. With that said, the S&P 500 is less than 2% shy of all-time highs. In respect to the Nasdaq, it’s even closer to all-time highs.

Stocks in play today included: Twitter (TWTR) +5.6%, Salesforce.com (CRM) -5.8%, Resolute Energy (REN) +20%, and KBR (KBR) +12.4%

The VIX closed below 13, dropping 3.4% on the day.

Oil prices are off to another hot start, up 3% on the week and closing in on 3-month highs. One can attribute the gains to bullish readings out of the API and DOE inventory reports.

On the options front, we saw large call buying activity in EP Energy (EPE), which traded 16.8 times normal option volume. In addition, we saw heavy put buying in Booz Allen Hamilton (BAH), which saw 20.3 times normal options volume.

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

Key Economic Data:
6 Oct 2016- Jobless Claims 8:30 AM ET
7 Oct 2016- Employment Situation 8:30 AM ET

Key Earnings:
6 Oct 2016- HELE, RT

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October 2, 2016 The Week Ahead

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The S&P 500 closed the week slightly higher. However, that doesn’t mean we didn’t see our fair share of volatility. In fact, if you look at the Dow Jones Industrials, they actually have had 6 straight triple digit closes. But we haven’t really seen much follow thru in either direction thus far. A day of weakness tends to be followed by a day of strength.

In respect to the upcoming schedule, there isn’t a whole lot going on in terms of earnings. Of course, we have our fair share of economic data and Fed speakers, but that’s really about it. China will be on holiday for the entire week.

Despite the market gaining on the week, the VIX actually rose a point from the previous Friday close, it finished Friday at 13.29.

The energy market reacted well to the most recent discussions out of OPEC. Crude oil futures prices were up nearly 8% on the week. This was mainly sparked by the belief that OPEC will follow thru on their informal agreement to cut production down. The official meeting is not till November.

Moving on, gold futures prices reversed nearly all of last week’s gains, dropping 1.62% In addition, T-bond futures prices saw a slight rise, closing the week .21% higher.

Here is what else is on the schedule for the upcoming week:

Key Economic Data:
3 Oct 2016- ISM Manufacturing Index 10:00 AM ET
5 Oct 2016- International Trade 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET
6 Oct 2016- Jobless Claims 8:30 AM ET
7 Oct 2016- Employment Situation 8:30 AM ET

Key Earnings:
4 Oct 2016- DRI, MU
5 Oct 2016- MON, STZ, YUM
6 Oct 2016- HELE, RT

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September 29, 2016 Market Wrap Up

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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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September 28, 2016 Market Wrap Up

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The S&P 500 is off to a strong week, up more than 1.1% so far. For a moment today, things started to look a little shaky, however; positive news out of the OPEC meeting caused oil prices to rise and the market followed with it. It appears that OPEC has come to an agreement to cut down on production.

Stocks in play today included: Amazon (AMZN) +1.6%, Tempur Sealy International (TPX) -22.4%, and National Beverage Corp (FIZZ) -7.3%

The VIX sold off more than 5%, closing at 12.39.

As mentioned earlier, oil prices surged today, more than 5% on hopes that an agreement has been reached amongst OPEC members to cut production down. Keep in mind, OPEC will be meeting in November, some market participants are not fully believing that OPEC will be able to follow through on this agreement and are questioning where the production will come from.

On the options front, we saw large call buying activity in Western Gas Partners (WES), which traded 54.6 times normal option volume. In addition, we saw heavy put buying in Dave and Busters Entertainment Inc (PLAY), which saw 4.3 times normal options volume.

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

Key Economic Data:
29 Sep 2016- GDP 8:30 AM ET; International Trade in Goods 8:30 AM ET; Jobless Claims 8:30 AM ET
30 Sep 2016- Personal Income and Outlays 8:30 AM ET

Key Earnings:
29 Sep 2016- CAG, PEP, CAMP, COST

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