October 20, 2015 Market Wrap Up
The S&P 500 was nearly flat today, closing the day down less than half of a percent. The SPDR S&P (SPY) is now up more than 4% on the month.
Earnings thus far have been average at best. We’ve seen some poor results from the likes of NFLX, IBM, WMT, and MS to name a few.
Interestingly, the VIX spiked 5% today, now trading at 15.75.
The energy sector was relatively flat; however, the United States Oil Fund (USO) has been dislocating from the equity markets. It’s clearly lost some steam while the equity markets keep moving higher.
On the options front, we saw bullish call buying in Heron Therapeutics (HRTX). Options that saw bearish put buying in Twenty First Century Fox Inc (FOX).
This evening we got earnings from Chipotle Mexican Grill (CMG) -3%, Yahoo! (YHOO) -3%, and Cree (CREE) -1.4%
Here’s what’s on tap tomorrow:
Key Economic Data:
22 October 2015- Jobless Claims 8:30 AM ET, Existing Home Sales 10:00 AM ET
Key Earnings:
21 October 2015- BA, GM, IPG, KMB, KO, STJ, SVU, TEX, CAKE, CCI, EBAY, MLNX, SNDK, TXN, URI, WFT
22 October 2015- BEN, CAM, CAT, DAN, CY, DGX, DNKN, DOW, DPS, FCX, LLY, JNS, LAZ, LUV, MCD, MJN, MMM, NDAQ, SWK, ALTR, AMZN, ATHN, COF, MSFT, QLIK, SYNA, T
23 October 2015- AAL, PG