October 18, 2016 Market Wrap Up

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The S&P 500 was off to a solid start gaining more than .6% on below average volume. We got strong earnings reports out of Goldman Sachs, Netflix, and UnitedHealth. However, there were some companies that didn’t fare as well like IBM and Johnson & Johnson.

Stocks in play today included: Banc of California (BANC) -29.05%, Netflix (NFLX) +19.07%, Harley-Davidson (HOG) +9.03%, and Domino’s Pizza (DPZ) +4.89%

The VIX sold off nearly 6% and closed at 15.28.

Crude oil futures prices paired off yesterday’s losses and continue to trade above $50 per barrel.

On the options front, we saw large call buying activity in Iamgold CytRX Corp (CYTR), which traded 41.4 times normal option volume. In addition, we saw heavy put buying in Progressive Corporation (PGR), which saw 5.4 times normal options volume.

Here’s what’s on tap for the rest of the week:

Key Economic Data:
19 Oct 2016- Housing Starts 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
20 Oct 2016- Jobless Claims 8:30 AM ET, Philly Fed Business Outlook Survey 8:30 AM ET, Existing Home Sales 10:00 AM ET

Key Earnings:
19 Oct 2016- ABT, CP, DOV, GPC, HAL, MS, RAI, STJ, STX, SVU, TUP, USB, AXP, EBAY, CTXS, HNI, GGG, MAT, PKG, SLM, STLD, URI, XLNX
20 Oct 2016- BK, DAN, DGX, DHR, FITB, KCG, NUE, PH, PHM, PPG, TRV, TXT, UNP, VZ, WBA, WBC, AMD, ATHN, EFTC, KLAC, MSFT, MXIM, N, PYPL, RCI, RS, SLB, SWN
21 Oct 2016- GE, HON, IPG, MCD, SYF, SAP, STI, MAN

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April 19, 2016 Market Wrap Up

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The market was relatively mixed today, with the Dow Jones Industrials, S&P 500 trading higher, while, the Nasdaq closed lower due to some poor earnings results in some heavily weighted companies like Netflix.

The VIX sold off a little bit, closing the day at 13.24. This the fourth straight close under 14, and the second lowest closing print of the year.

Crude Oil has had a nice bounce off Sunday’s lows, following an unproductive Doha meeting. WTI Crude closed the day above 41, at 41.08.

On the options front, we saw large call buying activity in Deere & Co. (DE). In addition, we saw heavy put buying in Cardinal Health (CAH), which saw 6.2 times usual options volume.

Stocks in play included: IBM (IBM) -5.6%, Netflix (NFLX) -12.9%, and SeaDrill (SDRL) +12.9%

Here’s what’s left this week:

Key Economic Data:
20 April 2016- Existing Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
21 April 2016- Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET

Key Earnings:
20 April 2016- ABT, ARMH, ASML, CHKP, EMC, CP, KO, HBAN, ITW, SAP, TUP, USB, AXP, CCK, CTXS, FFIV, MAT, NEM, QCOM, SYK, YUM, VMI
21 April 2016- ALK, BBT, BIIB, BK, CFG, DGX, DHI, FCS, FITB, GM, KCG, KEY, LUV, PPG, PHM, SHW, UA, UNP, VZ, AMD, GOOGL, MSFT, SBUX, SWN, V, SLB
22 April 2016- CAT, GE, KMB, MCD, SYF, STI

January 20, 2016 Market Wrap Up

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It was another crazy day in the markets. The SPDR S&P 500 ETF (SPY) opened the day at 185.03, hit a high of 188.06, and posted a low of 181.02. When the dust settled, it ended the day down 2.41 points or 1.28%. We’re close to being down 10% on the year.

The VIX continues to stay elevated, it closed above 27, however; it nearly hit 30 at one point during the session.

Crude oil futures prices are at decade lows, with no clear sign of support. We’re currently trading below $29 per barrel. Of course, this has taken a strain on the overall market. With that said, crude oil futures prices have suffered an even greater loss than equities so far this year.

Not only that, but we’ve gotten to the point where a gallon of gasoline is cheaper than a gallon of water and a gallon of milk.

Stocks in play included: Netflix (NFLX) -.45%, Exxon (XOM) -4%, Synaptics (SYNA) +27.3%, Twitter (TWTR) +5%

On the options front, we saw large call buying activity in Icici Bank (IBN). In addition, we saw heavy put buying in Stone Energy (SGY).

Here’s what’s on tap for the rest of the week. Keep in mind, we’ve got an ECB decision tomorrow morning.

Key Economic Data:
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:
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)

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)