April 26, 2016 Market Wrap Up
The market was relatively flat today, ahead of a heavy earnings and data week. The S&P 500 closed the day at 2091.70.
This evening we got results out of Twitter (TWTR) -9.3%, Apple (AAPL) -8.5%, and Chipotle Mexican Grill (CMG) -2.3%.
Overall, this should have a negative effect on the market. However, we’ve got the FOMC announcement which has the potential to shift the markets in either direction.
The VIX caught a bid, closing the day at 13.96.
Crude Oil has had a nice bounce today, climbing in the after hours after seeing a draw in the API data. We’re now trading above $44 a barrel.
On the options front, we saw large call buying activity in Huntington Bancshares Inc (HBAN). In addition, we saw heavy put buying in ExamWorks Group (EXAM), which saw 7.4 times usual options volume.
Stocks in play included: Sarepta (SRPT) -31%, Amira Nature Foods (ANFI) -16.6%, and Valeant Pharmaceuticals +2.2%.
Here’s what’s left for the rest of the week:
Key Economic Data:
27 April 2016- International Trade in Goods 8:30 AM ET, EIA Petroleum Status Report 10 :30 AM ET, FOMC Meeting Announcement 2:00 PM ET
28 April 2016- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
29 April 2016- Personal Income and Outlays 8:30 AM ET
Key Earnings:
27 April 2016- ANTM, BA, BEN, BHI, CMCSA, DPS, GSK, GRMN, HES, HLT, IP, LLL, MDLZ, NDAQ, NOC, SC, SO, UTX, AVB, FB, FSLR, HOLX, INFN, MAR, WLL, XLNX
28 April 2016- ABBV, ADP, AET, APD, BMY, CAB, CAH, CELG, CL, CLF, CME, COMM, COP, DB, DOW, DPZ, F, MA, MJN, MO, MPC, NOV, TMO, PTEN, RTN, TWC, UPS, VALE, VIAB, AMGN, AMZN, CATM, EXPE, FLEX, JNPR, LNKD, OUTR, P, QLIK, STRZA, SWKS, WDC
29 April 2016- CBOE, PSX, SHPG, XOM, TYC