April 18, 2017 Market Wrap Up

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All major indices sold off today, with the Dow Jones Industrial Averages performing the worst. Despite markets selling off, the VIX actually sold off, closing at 14.42– after hitting yearly highs last week.

Earnings are dominating headlines in the stock market, here are some names that reported today: Goldman Sachs (GS) -4.6%, W.W. Grainger (GWW) -11.4%, International Business Machines (IBM) -4.6%, and Yahoo (YHOO).

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.18%, iShares 20+ Year Treasury Bond (TLT) +1.31%, SPDR Gold Shares (GLD) +0.47%.

On the options front, we saw large call buying activity in Sysco Corp (SYY), which traded 4.9 times normal option volume. In addition, we saw heavy put buying in Equity Residential (EQR), which traded 2.3 times normal option volume.

Earnings will be the soup of the day for the rest of the week.

Key Economic Data:
19 April 2017- EIA Petroleum Status Report 10:30 AM ET
20 April 2017- Jobless Claims 8:30 AM ET; Philly Fed Survey 8:30 AM
21 April 2017- PMI Composite Flash 9:45 AM ET; Existing Home Sales 10:00 AM ET

Key Earnings:
18 April 2017- BAC, GNC, GS, HOG, JNJ, RF, SCHW, UNH, CAMP, IBKR, IBM, ISRG, LRCX, NAVI
19 April 2017- BLK, AMTD, HBAN, GPC, MS, TXT, USB, AXP, EBAY, QCOM, URI, VMI, CSX, CP
20 April 2017- BK, BX, DGX, DHI, NUE, PM, KEY, PPG, TRV, VZ, MAT, NCR
21 April 2017- GE, HON, COL, KSU, IPG, MAN, SLB, SWK, WBC

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January 18, 2016 The Week Ahead

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The S&P 500 continues to see heavy selling pressure this year, as we’re already down 8% thus far. Many attribute it to the slowdown in China; The Shanghai Composite Index is down more than 17% year-to-date.

In addition, crude oil prices continue to drop. They’re down over 20%, early in the new year. Cash crude oil prices are currently trading below $30 per barrel.

The VIX actually didn’t change much from last week, closing above 27.

For a four-day trading week, it’s pretty busy. On Tuesday, we’ll get China retail sales and GDP numbers. On Thursday, we’ve got the ECB interest rate decision. On top of that, we’ve got a ton of earnings being reported.

Reporting this week: Netflix (NFLX), Bank of America (BAC), Morgan Stanley (MS), IBM, Goldman Sachs (GS), Starbucks (SBUX), and a whole lot more.

Here’s what else is on tap:

Key Economic Data:
20 January 2016- Consumer Price Index 8:30 AM ET, Housing Starts 8:30 AM ET
21 January 2016- Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET
22 January 2016- Existing Home Sales 10:00 AM ET

Key Earnings:
19 January 2016- BAC, MS, SCHW, UN, UNH CREE, IBKR, IBM, LLTC, NFLX
20 January 2016- EAT, GS, FFIV, XLNX
21 January 2016- ALK, CP, LUV, VZ, ISRG, JBHT, MXIM, SBUX
22 January 2016- COL, GE, KSU, LM, SAP, SYF

Conferences:
20 January 2016- World Economic Forum in Davos (runs til 1/23)