June 30, 2016 Market Wrap Up
The S&P 500 has been in pure buy mode over the last three sessions. With that said, the S&P 500 is up nearly 5% over the last three sessions.
Stocks in play today include: The Hershey Company (HSY) +16%, Mondelez International (MDLZ) +5.9%, and Fireeye (FEYE) +3.9%.
The VIX has seen the air out of it’s balloon, now trading well below 16, at at 15.63. Despite the drop in VIX and the surge in the stock market, the iShares Barclays 20+ Yr Treasury Bond (ETF) was up on the day.
Crude oil futures closed futures sold off today, after gaining 7% the previous two days. However, they’re still not that off the yearly highs, closing at $48.33.
On the options front, we saw large call buying activity in Teck Resources (TCK), which traded 3.4 times normal volume. We also saw a ton of bearish bets being placed in Huntington Bancshares Inc (HBAN), which traded 7.0 times usual volume.
Here’s what’s left for tomorrow:
Key Economic Data:
1 July 2016- ISM Mfg Index 10:00 AM ET