July 12, 2016 Market Wrap Up

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The S&P 500 is now at record levels, as earnings season is freshly upon us. Not only that, but the Russell 2000 is up around 10% over the last ten days, as we’re seeing investors gain a stronger appetite for risk.

Stocks in play today include: American Airlines Group (AAL) +11.26%, Amazon (AMZN) -.89%, Stone Energy (SGY) +23.45%, and Netsuite (N) +10.7%.

Despite all major indices advancing, the VIX actually didn’t move much…closing the day at 13.55.

Crude oil futures gained more than 4% today closing slightly below $47 per barrel. With that said, crude oil is about 9% off its year to date hights.

On the options front, we saw large call buying activity in Etsy (ETSY), which traded 63.2 times normal volume. We also saw a ton of bearish bets being placed in Cracker Barrel (CBRL), which traded 5.8 times usual volume.

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

Key Economic Data:
13 July 2016- EIA Petroleum Status Report 10:30 AM ET
14 July 2016- Jobless Claims 8:30 AM ET, PPI-FD 8:30 AM ET
15 July 2016- Consumer Price Index 8:30 AM ET, Retail Sales 8:30 ET, Industrial Production 9:15 AM ET

Key Earnings:
13 July 2016- CSX, YUM
14 July 2016- BLK, JPM, PGR, AMD
15 July 2016- C, WFC, USB, FBR, PNC

July 10, 2016 The Week Ahead

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The S&P 500 is sitting just under all-time highs, at it gained 1.3% for the week. Some attribute Friday’s move to the June employment report, which showed an impressive number of 287,000 jobs. Now, with earnings season being the next catalyst, we’ll know soon enough if all-time highs can be broken.

The VIX got steamrolled on Friday, dropping more than 10.5% and closing at 13.20. Interestingly, bonds are near all-time highs despite lows in VIX. Not only that, but gold futures prices gained nearly 2% on the week. They too, are near yearly highs.

On the other hand, crude oil futures prices declined nearly 6% on the week. With that said, they’re hanging around $45 per barrel. They’re now more than 11% off their yearly highs.

As mentioned earlier, earnings season kicks off with Alcoa on the 11th. One of the first sectors reporting will be banking. With that said, we’ll be hearing from JPMorgan Chase, Citibank, Wells Fargo, and PNC Bank to name a few.

Here is what is on tap for this upcoming week:

Key Economic Data:
13 July 2016- EIA Petroleum Status Report 10:30 AM ET
14 July 2016- Jobless Claims 8:30 AM ET, PPI-FD 8:30 AM ET
15 July 2016- Consumer Price Index 8:30 AM ET, Retail Sales 8:30 ET, Industrial Production 9:15 AM ET

Key Earnings:
11 July 2016- AA, VOXX
12 July 2016- FAST, ADTN, AIR
13 July 2016- CSX, YUM
14 July 2016- BLK, JPM, PGR, AMD
15 July 2016- C, WFC, USB, FBR, PNC

July 7, 2016 Market Wrap Up

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The S&P 500 was relatively flat today on below average volume. However, there were some interesting sectors in play. More specifically, healthcare, retail and foods. With that said, a lot of eyes and ears will be on tomorrow’s jobs report as the shortened trading week comes to a close.

Stocks in play today include: Humana (HUM) -10%, AVG Technologies (AVG) +30.9%, Whitewave Foods Company (WWAV) +18.6%, and First Solar Energy (FSLR) -9.9%

The VIX was down a little bit, closing at 14.76.

Crude oil futures got torched today. The United States Oil Fund (USO) was down more than 4%, closing the day at 10.82.

On the options front, we saw large call buying activity in Nordstrom Inc (JWN), which traded 6.7 times normal volume. We also saw a ton of bearish bets being placed in WellCare Health Plans, which traded 16.8 times usual volume.

Here’s what’s left for tomorrow:

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

July 6, 2016 Market Wrap Up

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The S&P 500 has been on an absolute tear lately, and inching ever closer to the all-time highs. With that said, we’re less than 2% from those levels. Interestingly, Treasury bonds are also near yearly highs, along with gold futures prices.

It almost feels like something has to give? But the million dollar question is in what and when. The market reacted positively after the FOMC Minutes were released this afternoon. Of course, traders are still digesting the aftermath of the Brexit.

Stocks in play today include: Kohl’s (KSS) +2.78%, Carmax (KMX) +5.6%, and Valeant Pharmaceuticals (VRX) +16.9%.

The VIX was down nearly 4%, closing the day below 15, at 14.96.

Crude oil futures bounced nicely ahead of tomorrow’s DOE numbers. The United States Oil Fund (USO) was up over 2% on the day.

On the options front, we saw large call buying activity in Foot Locker (FL), which traded 4.8 times normal volume. We also saw a ton of bearish bets being placed in Chemours Company (CC) which traded 16.2 times usual volume.

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

Key Economic Data:
7 July 2016- Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 11:00 AM ET
8 July 2016- Employment Situation 8:30 AM ET

Key Earnings:
7 July 2016- PEP, CUDA, HELE

July 3, 2016 The Week Ahead

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What a difference a week makes. The S&P 500 has gained more than 5% over the last 4 trading sessions, as it’s inching closer to yearly highs. With that said, the VIX on Friday closed at 14.77, that’s 42% off last Friday’s close of 25.76. Some believe the threat of contagion after Brexit was overestimated as it appears that the EU and UK plan on working closely together to assure some type of order.

Interestingly, Gold, often recognized as a safe haven also saw futures prices rise this week, nearly 2% and closing around 1340… which isn’t too far from the year to date high. Not to mention, US Treasury futures prices also rose more than 2% on the week. They too, are near the yearly highs.

Crude oil futures prices rose more than 3% on the week, at around $49 per barrel.

Outside of the FOMC minutes being released, we’ve got a pretty thin schedule coming up with markets being closed on Monday. With that said, have a happy and safe Independence Day!

Here is what is on tap for this upcoming week:

Key Economic Data:
6 July 2016- International Trade 8:30 AM ET, FOMC Minutes 2:00 PM ET
7 July 2016- Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 11:00 AM ET
8 July 2016- Employment Situation 8:30 AM ET

Key Earnings:
6 July 2016- WBA
7 July 2016- PEP, CUDA, HELE

June 30, 2016 Market Wrap Up

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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

June 28, 2016 Market Wrap Up

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The S&P 500 caught its first bounce after the Brexit announcement, as it closed up more than 35 points, a gain of nearly 1.8%. Not only that, but the VIX came under attack as it dropped more than 20% and closing below 19.

Stocks in play today include: comScore, Inc (SCOR) $23.83 (-18.96%), Dow Chemical Company (DOW) $48.50 (-2.04%), PayPal Holdings (PYPL) $35.24 (+3%), and Splunk, Inc. (SPLK) $53.34 (+4.65%).

Despite the anemic volume, the VIX actually grinded up, closing at 14.64.

Crude oil futures closed about %3 higher at $47.85.

On the options front, we saw large call buying activity in Travelport Worldwide Limited (TVPT), which traded 8.1 times normal volume. We also saw a ton of bearish bets being placed in Clovis Oncology Inc (CLVS), which traded 2.2 times usual volume.

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

Key Economic Data:
29 June 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
30 June 2016- Jobless Claims 8:30 AM ET
01 July 2016- ISM Mfg Index 10:00 AM ET

Key Earnings:
29 June 2016- GIS, MON, PIR
30 June 2016- CAG, DRI, LNN, STZ, MU, MKC

Key Events:
JPMorgan Media & Telecoms CEO Conference (runs till 6/29)

June 27, 2016 The Week Ahead

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The S&P 500 was under attack on Friday after a surprise vote out of Britain as they chose to leave the EU. Going into Friday, the option market was implying a 1.6%, however; The S&P 500 sold off more than 3.59%, which demonstrates how much traders underestimated the risk. Overall, the S&P 500 finished the week down 1.57%.

It appears that there are fears that other EU countries might follow in the footsteps as the Brits. With that said, traders were flocking towards safe havens like Gold and Treasury Bonds. Gold futures rose to their highest levels in 2 years, as they surged more than $55 and closed above 1315. In addition, The iShares Barclays 20+ Yr Treasury Bond (ETF) gained more than 3.5 pts as it closed at 135.78, a move of 2.68%.

The VIX on Friday closed at 25.76, a massive jump of more than 8 points, a gain of nearly 50%.

The United States Oil Fund (USO) was also a victim of the Brexit vote, as it sold off nearly 5% on Friday, closing at 11.40.

Here is what is on tap for this upcoming week:

Key Economic Data:
27 June 2016- International Trade in Goods 8:30 AM ET
28 June 2016- GDP 8:30 AM ET
29 June 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
30 June 2016- Jobless Claims 8:30 AM ET
01 July 2016- ISM Mfg Index 10:00 AM ET

Key Earnings:
28 June 2016- NKE, CAMP, CCL, FDS
29 June 2016- GIS, MON, PIR
30 June 2016- CAG, DRI, LNN, STZ, MU, MKC

Key Events:
27 June 2016- JPMorgan Inaugural Energy Conference (runs till 6/28)
28 June 2016- JPMorgan Media & Telecoms CEO Conference (runs till 6/29)

June 12, 2016 The Week Ahead

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The S&P 500 closed the week relatively flat, however; earlier gains in the week were erased over the last two trading sessions as the S&P 500 lost more than 1%. With that said, volume was generally weak as the market awaits a week laced with heavy data. Most importantly, the FOMC announcement on Wednesday.

It’s expected that given the last jobs report, the Fed will not make any changes. However, market participants will be close attention to the language used as well the upcoming forecasts.

The VIX on Friday closed at 17.03, a massive jump from last Friday, indicating that traders are more uncertain how the market will react to the upcoming data.

Crude oil futures traded above $50 for three straight days this week but sold off over 4% the last two trading sessions to close a tad above $49 per barrel.

Here is what is on tap for this upcoming week:

Key Economic Data:
14 June 2016- Retail Sales 8:30 AM ET
15 June 2016- PPI 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET, FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
16 June 2016- Consumer Price Index 8:30 AM ET, Jobless Claims 8:30 AM ET, Philly Fed Business Outlook Survey 8:30 AM ET
17 June 2016- Housing Starts 8:30 AM ET

Key Earnings:
14 June 2016- BOBE, LAKE
15 June 2016- JBL
16 June 2016- KR, FNSR

Key Events:
13 June 2016- Apple Worldwide Developers Conference (runs till 6/17); JPMorgan Global China Summit (runs till 6/15), Stifel Industrials Conference
14 June 2016- Citigroup Industrials Conference (runs till 6/15); Credit Suisse Semi Supply Chain Conference (runs till 6/15); Morgan Stanley Financial Services Conference (runs till 6/15); Piper Consumer Conference (runs till 6/15); RBC Global Mining & Materials Conference (runs till 6/15); Wells Fargo Food/Retail Symposium (runs till 6/15); William Blair 36th Annual Growth Stock Conference (runs till 6/16)

June 9, 2016 Market Wrap Up

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The S&P 500 closed slightly lower on below average trading volume. It appears the market is on vacation this week as we await heavy economic data next week. Most importantly, the FOMC meeting that is scheduled for June 15.

Stocks in play today include: The Hershey Company (HSY) +3.5%, H&R Block Financial (HRB) +8.8%, and Tesla Motors (TSLA) -3.83%.

Despite the anemic volume, the VIX actually grinded up, closing at 14.64.

Crude oil futures closed above $50 per barrel for the 3rd straight trading day. We’ve made 23 new highs over the last 6-months to just give you an idea of the run we’ve had.

On the options front, we saw large call buying activity in the Hershey Company (HSY), which traded 36.7 times normal volume. We also saw a ton of bearish bets being placed in Urban Outfitters Inc, which traded 2.7 times usual volume.

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

Key Economic Data:
9 June 2016- Jobless Claims 8:30 AM ET

Key Earnings:
9 June 2016- SJM, MFRM, HRB

Key Events:
Bank America Global Telecom & Media Conference (runs till 6/9)
Goldman Healthcare Conference (runs till 6/9)
Jefferies Healthcare Conference (runs till 6/10)
Credit Suisse Global Energy Conference (runs till 6/9)
Deutsche Bank 7th Annual Global Industrials & Basic Materials Conference (runs till 6/9)