October 20, 2016 Market Wrap Up

October 20, 2016 tvcuser Education, Trading Crude Oil, DRWI, Earnings, Economic Data, INFY, MSFT, NXPI, PYPL, S&P 500, TWX, VAR, VIX, WSM

The S&P 500 was relatively flat today on below average volume. That’s kind of surprising given that we’re starting to see a lot of earnings come in. Before the US market opened the news out of the ECB was that they were leaving key interest rates unchanged.

In the after hours we got earnings out of Microsoft (MSFT), which topped 1Q profit forecasts and traded 5% higher. In addition, Paypal (PYPL) also traded higher due to strong revenue numbers.

Stocks in play today included: NXP Semiconductors (NXPI) +4.18%, Varian Medical Systems (VAR) +3.28%, Dragonwave (DRWI) +94.5%, and Time Warner (TWX) +5%

The VIX sold off more than 4.5% and closed at 13.75.

Crude oil futures prices sold off about 2.3% today, but still closed above $50 per barrel.

On the options front, we saw large call buying activity in Iamgold Williams Sonoma (WSM), which traded 8 times normal option volume. In addition, we saw heavy put buying in Infosys (INFY), which saw 3.4 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
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:
21 Oct 2016- GE, HON, IPG, MCD, SYF, SAP, STI, MAN

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September 29, 2016 Market Wrap Up

September 29, 2016 tvcuser Education, Trading BHI, CS, DB, Economic Data, NXPI, QCOM, S&P 500, VIX

The S&P 500 sold off nearly 1%, as financial stocks were the main culprit. News out of Europe indicates that some of their banks might have exposure to too much risk. With the Wells Fargo scandal still fresh on the mind of traders, it didn’t take much for fears to enter the market.

Stocks in play today included: Deutsche Bank (DB) -6.7%, Credit Suisse (CS) -4.4%, NXP Semiconductors (NXPI) +17%, and Qualcomm (QCOM)

The VIX surged more than 13%, climbing 1.63 pts and closing at 14.02.

Oil prices continued their strength despite some worries that the OPEC cut agreement might not stick. With that said, the futures were up 1.4% today, adding to the more than 7% gains on the week.

On the options front, we saw large call buying activity in Baker Hughes (BHI), which traded 5.1 times normal option volume. In addition, we saw heavy put buying in Deutsche Bank (DB), which saw 9.6 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
30 Sep 2016- Personal Income and Outlays 8:30 AM ET

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