February 22, 2017 The Week Ahead
The markets closed mixed today on lower than expected volume. For the most part, we’ve been trending higher with no real hiccup to note of. That said, even the FOMC minutes were a non-event today. The VIX is still trading below 12, as it closed at 11.74.
Strong earnings performers included: Garmin (GRMN), Mobileye (MBLY), and Tesla (TSLA)
Weak earnings performers included: L Brands (LB), Hollyfrontier (HFC), and Terex (TEX)
ETF Performers: United States Oil Fund (USO) -1.56%, iShares 20+ Year Treasury Bond (TLT) +0.17%, SPDR Gold Shares (GLD) +0.14%.
On the options front, we saw large call buying activity in Liberty Interactive (QVCA), which traded 289 times normal option volume. In addition, we saw heavy put buying in Macquarie Infrastructure Company (MIC), which traded 2.3 times normal option volume.
Here is what is left for the rest of the week:
Key Economic Data:
23 Feb 2017- Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 11:00 AM ET, New Home Sales 10:00 AM ET
Key Earnings:
23 Feb 2017- BSFT, APA, CHK, CRZO, EME, IRM, KSS, PF, SAFM, SFM, STOR, VALE, VAC, DYN, GPS, HLF, IMAX, INTU, JWN, OLED, SWN, ZOES
24 Feb 2017- CLMT, DOC, FL, HSC, IAG, JCP, PEG, KBR, RLGY, STAR
Key Events:
20 Feb 2017- CAGNY Consumer Conference (runs till 2/24)
22 Feb 2017- Barclay’s Industrials Conference (runs till 2/23); RBC Healthcare Conference (runs till 2/23)
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