March 26, 2017 Market Wrap Up
The markets bounced back today after seeing some selling pressure over the last week. With that said, the sell off didn’t last that long, nor was it that intense.
After seeing the VIX hang out in the 14 area last week, we’re seeing it come back in. Today it closed at 11.53, a drop of nearly 8% today.
ETF Performers: United States Oil Fund (USO) +1.10%, iShares 20+ Year Treasury Bond (TLT) -0.67%, SPDR Gold Shares (GLD) -0.43%.
On the options front, we saw large call buying activity in ON Semiconductor (ON), which traded 4.6 times normal option volume. In addition, we saw heavy put buying in Scana Corporation (SCG), which traded 11.5 times normal option volume.
Some earnings results that traders paid attention too today included:
Carnival (CCL) +0.62%.Darden Restaurants (DRI) +9.3%, Factset Research (FDS) -5.7%, and Restoration Hardware (RH) +19.5%
Here is what is on tap for tomorrow:
Key Economic Data:
29 March 2017- Pending Home Sales Index 10:00 AM ET
30 March 2017- GDP 8:30 AM ET; Jobless Claims 8:30 AM ET
31 March 2017- Personal Income and Outlays 8:30 AM ET
Key Earnings:
29 March 2017- PRGS, WRD, GEVO, OMN
30 March 2017- LNN, SNAK, TITN, EGLE, PRKR, UNXL
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