May 12, 2016 Market Wrap Up

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The S&P 500 sold off today, however; we closed well above the lows of the day to get near unchanged levels. The Nasdaq sold off nearly 1% as many tech names were under pressure. For example, Apple (AAPL) broke the $90 level during the day, closing down more than 2%.

We also saw continued selling in retail names for the second straight day. Not to mention, another strong day in Amazon (AMZN) +0.5%, closing above $716 per share. We had earnings out of Nordstrom this evening, shares have dropped more than 16% in the after hours… again, following similar companies who have already posted earnings results.

The United States Oil Fund (USO) was up more than 0.88% today, shaking off earlier losses in the day.

The VIX dropped nearly 2%, closing the day at 14.69.

On the options front, we saw large call buying activity in Endo International PLC (ENDP). In addition, we saw heavy put buying in Bristow Group Inc (BRS), which saw 11.4 times usual options volume.

Here’s what’s left for the rest of the week:

Key Economic Data:
13 May 2016- Retail Sales 8:30 AM ET, PPR-FD 8:30 AM ET

Key Earnings:
13 May 2016- JCP

May 11, 2016 Market Wrap Up

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The S&P 500 sold off today, giving up nearly all of yesterday’s gains. Two sectors that got really beat up where retail and pharma. For example, we saw heavy selling in: Macy’s (M) -15%, Target (TGT) -5.4%, Michael Kors (KORS) -11.9%, and Tiffany & Co. (TIF) -6% to name a few.

On the other end, Amazon.com (AMZN) was up more than 1%, which appears to be the winner from all this. Not to mention, the Office Depot (ODP) -40% and Staples (SPLS) -18% was called off due to regulatory issues…which might have also helped Amazon out as well.

The United States Oil Fund (USO) was up more than 3% today after we got a surprise draw out of the DOE numbers this morning.

The VIX gained more than 7%, closing the day at 14.69.

On the options front, we saw large call buying activity in Scorpio Bulkers (SALT). In addition, we saw heavy put buying in Masco (MAS), which saw 3.9 times usual options volume.

Here’s what’s left for the rest of the week:

Key Economic Data:
12 May 2016- Jobless Claims 8:30 AM ET
13 May 2016- Retail Sales 8:30 AM ET, PPR-FD 8:30 AM ET

Key Earnings:
12 May 2016- AER, KSS, MTW, PRGO, RL, JWN, NVDA, SHAK
13 May 2016- JCP

Key Events:
11 May 2016- Bank America Global Metals, Mining & Steel Conference (runs till 5/12)
11 May 2016- Bank America Healthcare Conference (runs till 5/12)
11 May 2016- Jefferies Technology Conference (runs till 5/12)

May 8, 2016 The Week Ahead

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The S&P 500 finished lower for the second straight week, as a majority of the key earnings are now behind us. The NASDAQ has been down 11 out of the last 13 sessions, as many of the tech and biotech names have been under pressure.

Although the market was down, the VIX actually dropped below the 15 level.

Crude oil futures prices were also relatively weak, dropping about 3% and closing below $45 per barrel. Right now, crude oil is about 3% off from the 6-month highs.

Gold futures have been on an absolute tear lately, they’re just 1.2% off the 12-month highs.

With some of the earnings winding down, there are a number of conferences to look out for. Check out the schedule below.

Key Economic Data:
11 May 2016– EIA Petroleum Status Report 10:30 AM ET
12 May 2016– Jobless Claims 8:30 AM ET
13 May 2016– Retail Sales 8:30 AM ET, PPR-FD 8:30 AM ET

Key Earnings:
9 May 2016– BID, JD, TEVA, TSN, DNB, HTZ, INVN, JAZZ, RAX, SCTY, PRA
10 May 2016– DF, SODA, WWE, DIS, EA, JIVE, NUAN, RICK
11 May 2016– M, WEN, CA, JACK, NTES
12 May 2016– AER, KSS, MTW, PRGO, RL, JWN, NVDA, SHAK
13 May 2016– JCP

Key Events:
9 May 2016– Morgan Stanley E&P and Oil Service Conference (runs till 5/11)
10 May 2016– Citigroup Energy & Utilities Conference (runs till 5/11), Oppenheimer Industrials Growth Conference (runs till 5/11), SunTrust Internet & Digital Media Conference (runs till 5/11), Wells Fargo Industrials & Construction Conference (runs till 5/11), Bank America Global Metals, Mining & Steel Conference (runs till 5/12), Bank America Healthcare Conference (runs till 5/12)
11 May 2016– Jefferies Technology Conference (runs till 5/12)

May 5, 2016 Market Wrap Up

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The S&P 500 sold off for the third consecutive day, although; we closed nearly unchanged. For the most part, earnings related companies dominated the action today.

With that said, we got positive earnings out of Alibaba (BABA) this morning (+3.3%). In the after hours we got results out of Gopro (GPRO) -11.5%, Endo International (ENDP) -28.4%, and Herbalife (HLF) +14%.

The VIX sold off a little, closing the day at 15.91, a drop of nearly 1%

Crude Oil bounced back a little, snapping a 3-day losing streak and closing the day below $45 per barrel. It gave up a lot of gains in the afternoon, but still managed to end the day positive.

On the options front, we saw large call buying activity in Weatherford International (WFT). In addition, we saw heavy put buying in YY Inc (YY), which saw 10.8 times usual options volume.

Here’s what’s left for tomorrow:

Key Economic Data:
6 May 2016- Employment Situation 8:30 AM ET

Key Earnings:
6 May 2016- AGN, WLTW, WY, EXC

May 4, 2016 Market Wrap Up

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The S&P 500 sold off for the second consecutive day, and is now down more than .5% on the week so far. Some attribute this to some weak economic data, as we saw a drop in imports today.

Some of the highlights today included comments out the Sohn Investment Conference. A meeting of some of the sharpest minds on wall street, presenting their top picks for the year. With that said, we saw a decent amount of volatility in individual stocks mentioned; as traders and machine reading algos reacted to the conference.

Names mentioned included: Bank Of The Ozarks (OZRK) -4.2%. Solarcity (SCTY) -9.2%, and Depomed (DEPO) -1.1%

The VIX caught a bid, closing the day at 16.05, an increase of nearly 3%.

Crude Oil is down around 5% over the last 4 trading sessions. However, it did manage to bounce back from earlier lows, despite seeing a higher than expected build out the DOE report.

On the options front, we saw large call buying activity in BGC Partners (BGCP). In addition, we saw heavy put buying in Pattern Energy Group (PEGI), which saw 6.7 times usual options volume.

This evening we got earnings out of Tesla (TSLA) +0.5%, Whole Foods Market (WFM) +2.9%, and Fitbit (FIT) -11.7% to name a few.

Here’s what’s left for the rest of the week:

Key Economic Data:
5 May 2016– GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
6 May 2016– Employment Situation 8:30 AM ET

Key Earnings:
5 May 2016– APO, AVP, BABA, CHK, DDD, DISCA, FIG, G, ITG, K, LXP, MGM, MRK, OA, REGN, SEAS, WFT, ANET, ATVI, DATA, DWA, ENDP, FEYE, GPRO, HLF, MDVN, OLED, POST, TRUE, UBNT, YELP
6 May 2016– AGN, WLTW, WY, EXC

May 1, 2016 The Week Ahead

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The S&P 500 finished the week lower, a drop of about 1.25%. This was after a busy week of mixed earnings, along with the FOMC announcement. It’s clear that sentiment has gotten a lot more cautious over the last couple of trading days.

For example, the VIX spiked up more than 2.5 points from last friday’s close.

Despite all this… crude oil prices continue to surge, as we closed the week more than 5% higher. It appears we have a date with 50, as the futures closed slightly below $46 per barrel on friday.

It’s another jam packed week of earnings reports so please check the dates below.

Here’s what’s on tap for this week coming up…

Key Economic Data:
2 May 2016- ISM Manufacturing Index 10:00 AM ET
4 May 2016- International Trade 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
5 May 2016- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
6 May 2016- Employment Situation 8:30 AM ET

Key Earnings:
2 May 2016- BSFT, HP, L, RACE, SYY, AIG, EIX, GGP, ONDK, TCO, TSRA, VNO
3 May 2016- ADM, BNP, CLX, CMI, CVS, DUK, ECL, EL, EMR, FTR, GRUB, H, HCA, HOT, MNK, MOS, NI, PBI, PFE, S, TAP, UBS, VLO, VMC, CAR, CBS, DVN, DYN, GLUU, ILMN, MAC, NDLS, NFX, WU, XPO, ZEN, ZG
4 May 2016- BUD, DLPH, ENR, FUN, HAIN, HUM, ICE, KATE, MOS, PCLN, SHOP, TWX, ZTS, CB, EQIX, FIT, GDDY, MAA, MCK, MET, MRO, MUR, PRI, QRVO, TRIP, TROX, TSLA, WFM, WMB, WTW, ZNGA
5 May 2016- APO, AVP, BABA, CHK, DDD, DISCA, FIG, G, ITG, K, LXP, MGM, MRK, OA, REGN, SEAS, WFT, ANET, ATVI, DATA, DWA, ENDP, FEYE, GPRO, HLF, MDVN, OLED, POST, TRUE, UBNT, YELP
6 May 2016- AGN, WLTW, WY,EXC

April 28, 2016 Market Wrap Up

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It was a pretty busy day in the markets, so let’s highlight some of the key events that went down. First, the futures took a hit pre-market after the Bank of Japan decided not to add further stimulus. It was widely accepted that they would continue to add stimulus and that was not the case at all.

With that said, the S&P 500 managed to rally into the green. That’s with a weaker than expected GDP number. However, we started to see some selling pressure after Billionaire Investor, Carl Icahn gave some cautious views on the market, not to mention, he sold all of his Apple (AAPL) stake, which took the stock and the overall market down.

The S&P 500 closed down nearly 1%, gold futures were up nearly 2%, and silver futures were more than 2%.

The VIX caught a bid, closing the day at 15.22, an increase of more than 10%.

Crude Oil shrugged off the weakness in the equity markets as it continues to chase the $50 per barrel level. The futures are currently trading above $46 per barrel.

On the options front, we saw large call buying activity in Tronox (TROX). In addition, we saw heavy put buying in Synaptics Incorporated (SYNA), which saw 3.2 times usual options volume.

This evening we got earnings out of Amazon (AMZN) +11.7%, Linkedin (LNKD) +11%, Pandora (P) +8%, and Skyworks Solutions (SWKS) -4.1% to name a few.

Here’s what’s left for the last trading day of the month:

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

Key Earnings:
29 April 2016- CBOE, PSX, SHPG, XOM, TYC

April 26, 2016 Market Wrap Up

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The market was relatively flat today, ahead of a heavy earnings and data week. The S&P 500 closed the day at 2091.70.

This evening we got results out of Twitter (TWTR) -9.3%, Apple (AAPL) -8.5%, and Chipotle Mexican Grill (CMG) -2.3%.

Overall, this should have a negative effect on the market. However, we’ve got the FOMC announcement which has the potential to shift the markets in either direction.

The VIX caught a bid, closing the day at 13.96.

Crude Oil has had a nice bounce today, climbing in the after hours after seeing a draw in the API data. We’re now trading above $44 a barrel.

On the options front, we saw large call buying activity in Huntington Bancshares Inc (HBAN). In addition, we saw heavy put buying in ExamWorks Group (EXAM), which saw 7.4 times usual options volume.

Stocks in play included: Sarepta (SRPT) -31%, Amira Nature Foods (ANFI) -16.6%, and Valeant Pharmaceuticals +2.2%.

Here’s what’s left for the rest of the week:

Key Economic Data:
27 April 2016- International Trade in Goods 8:30 AM ET, EIA Petroleum Status Report 10 :30 AM ET, FOMC Meeting Announcement 2:00 PM ET

28 April 2016- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET

29 April 2016- Personal Income and Outlays 8:30 AM ET

Key Earnings:
27 April 2016- ANTM, BA, BEN, BHI, CMCSA, DPS, GSK, GRMN, HES, HLT, IP, LLL, MDLZ, NDAQ, NOC, SC, SO, UTX, AVB, FB, FSLR, HOLX, INFN, MAR, WLL, XLNX

28 April 2016- ABBV, ADP, AET, APD, BMY, CAB, CAH, CELG, CL, CLF, CME, COMM, COP, DB, DOW, DPZ, F, MA, MJN, MO, MPC, NOV, TMO, PTEN, RTN, TWC, UPS, VALE, VIAB, AMGN, AMZN, CATM, EXPE, FLEX, JNPR, LNKD, OUTR, P, QLIK, STRZA, SWKS, WDC

29 April 2016- CBOE, PSX, SHPG, XOM, TYC

April 24, 2016 The Week Ahead

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The S&P 500 finished the week slightly higher, still within close distance from the all-time highs. Not too shabby considering many of the earnings out have been rather weak. In terms of this upcoming week, we’ll be stuffed with earnings and economic data.

For example, we’ll have earnings out of Amazon, Apple, Facebook, and Exxon just to name a few. In addition, an FOMC announcement on Wednesday and GDP on Thursday.

The VIX closed the week slowly, at 13.22. This makes 8 straight trading days that the VIX has closed below 14, making it the longest streak of the year.

Crude oil finished the week about 8% higher from last Friday. For many, this came as a surprise given there was no real positives that came out of the Doha meeting. With that said, the futures shrugged that off after Monday’s sell-off.

Here’s what’s on tap for this week coming up…

Key Economic Data:
25 April 2016- New Home Sales 10:00 AM ET
26 April 2016- Durable Goods Orders 8:30 AM ET
28 April 2016- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
29 April 2016- Personal Income and Outlays 8:30 AM ET

Key Earnings:
25 April 2016- FDC, HAL, KKR, LH, XRX, AGNC, CDNS, ESRX, KN, NBR, NXPI, PXD, SWFT, ZION, RE
26 April 2016- AKS, ALLY, BAX, BP, CNX, COH, DD, FCX, GLW, HSY, IR, JBLU, JNS, LLY, LMT, MAS, MHFI, MMM, ODP, PCAR, PG, PH, R, RAI, SAVE, SPG, STAY, SVU, TMUS, WAT, WYN, APPL, AKAM, ASH, BWLD, BYD, CAKE, CMG, CREE, COF, CRUS, EBAY, EW, FTNT, IRBT, NCR, PNRA, SLCA, T, TEX, TWTR, TX, X
27 April 2016- ANTM, BA, BEN, BHI, CMCSA, DPS, GSK, GRMN, HES, HLT, IP, LLL, MDLZ, NDAQ, NOC, SC, SO, UTX, AVB, FB, FSLR, HOLX, INFN, MAR, WLL, XLNX
28 April 2016- ABBV, ADP, AET, APD, BMY, CAB, CAH, CELG, CL, CLF, CME, COMM, COP, DB, DOW, DPZ, F, MA, MJN, MO, MPC, NOV, TMO, PTEN, RTN, TWC, UPS, VALE, VIAB, AMGN, AMZN, CATM, EXPE, FLEX, JNPR, LNKD, OUTR, P, QLIK, STRZA, SWKS, WDC
29 April 2016- CBOE, PSX, SHPG, XOM, TYC

April 21, 2016 Market Wrap Up

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The market was relatively weak today, with the Dow Jones Industrials, S&P 500, and Nasdaq all closing in the red. For the most part, earnings have been somewhat mixed.

This evening we got results out of Starbucks (SBUX) -5.4%, Microsoft (MSFT) -2.5%, and Alphabet (GOOGL) -3.8%. This might weigh down the Nasdaq tomorrow.

The VIX caught a bid, closing the day at 13.95. This is 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 CDK Global (CDK). In addition, we saw heavy put buying in Tidewater Inc (TDW), which saw 6.9 times usual options volume.

Stocks in play included: Biogen (BIIB) +5%, Viacom (VIAB) +13.8%, and Intrexon (XON) -26.4%.

Here’s what’s left for tomorrow:

Key Earnings:
22 April 2016- CAT, GE, KMB, MCD, SYF, STI