April 26, 2017 Market Wrap Up

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After enjoying a record setting day yesterday, some stock indices took a breather. However, the Russell 2000 bucked the trend and closed the day positive. Over the last couple of trading sessions, the VIX has gotten beat up, as its now trading below 11 at 10.85.

The catalyst?

Looks like the French election, which happened on Sunday was the reason global markets rose on Monday. Earnings have been okay thus far, and President Trump is pushing towards policies that will boost business sentiment.

Earnings will continue to be heavily watch, here are some names that reported: Dr Pepper Snapple Group, Inc. (DPS) -5.52%, Procter & Gamble (PG) -2.52%, Seagate Technology (STX) -16.83% and Twitter (TWTR) +7.91%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.97%, iShares 20+ Year Treasury Bond (TLT) +0.55%, SPDR Gold Shares (GLD) +0.49%.

On the options front, we saw large call buying activity in Sientra Inc. (SIEN), which traded 10.3 times normal option volume. In addition, we saw heavy put buying in Agios Pharmaceuticals (AGIO), which traded 5.4 times normal option volume.

Here is what is left on the schedule:

Key Economic Data:
27 April 2017- Jobless Claims 8:30 AM ET; Durable Goods Orders 8:30 AM; International Trade in Goods 8:30 AM ET
28 April 2017- GDP 8:30 AM ET

Key Earnings:
26 April 2017- ANTM, BAX, DPS, HES, HSY, NDAQ, NOC, NSC, ROK, PG, SLAB, SONS, STT, STX, TWTR, UTX, X, WM, WRK, WYN, AMGN, CAVM, BWLD, FFIV, NOW, ORLY, PYPL, SAM, TSCO, XLNX
27 April 2017- ABBV, APD, BMY, BSX, BWA, CELG, CMCSA, CME, DOW, F, GRUB, IP, IRM, JCI, LAZ, LLL, LUV, MPC, POT, SIRI, SPG, UAA, UNP, UPS, AIV, AMZN, BIDU, EXPE, GOOGL, GPRO, INTC, MLNX, MAC, MSFT, SBUX, VRTX, WDC
28 April 2017- CL, COG, CVX, GM, GT, HST, LYB, PSX, SYF, VFC, XOM, WY

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April 14, 2016 Market Wrap Up

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The market was relatively flat today, trading in a very narrow range. The S&P 500 traded between 2078 to 2087, closing in the middle of that range at 2082.

Despite a slow moving market, the VIX sold off a little bit, closing at 13.72.

The United States Oil Fund (USO) was down .5%, closing the day at 10.48. Crude oil is still comfortably trading above $41 per barrel.

On the options front, we saw large call buying activity in Union Pacific (UNP). In addition, we saw heavy put buying in Waddell & Reed Financial (WDR), which saw 48.4 times usual options volume.

Stocks in play included: Bofi Holding (BOFI) -16.3%, Repros Therapeutics (RPRX) +20%, and Seagate Technology (STX) -20%

Earnings tomorrow include Citigroup. Thus far, JPMorgan Chase and Bank of America have posted solid results. However, Wells Fargo did not react as well on their earnings.

Here’s what’s left this week:

Key Economic Data:
15 April 2016- Industrial Production 9:15 AM ET

Key Earnings:
15 April 2016- C, RF, SCHW

October 15, 2015 Market Wrap Up

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October 15, 2015 Market Wrap Up

The S&P 500 exploded today, closing the day 1.5% higher. The SPDR S&P (SPY) is now 11.5% above our 52-week lows.

It almost seems like we’ve fallen back to the ol’ bad news is good… and good news is good. A win-win for the market. We’ve shaken off bad earnings from GS, NFLX, and HCA. Not to mention, lowered expectations out of Wal-Mart (WMT).

With that said, the VIX got smoked. It was down more than 10% and is now at 16.05.

The energy sector was relatively flat; however, the United States Oil Fund (USO) is more than 20% off its 52-week lows.

On the options front, we saw bullish call buying in Zoetis (ZTS) and bearish put buying in Seagate Technology (STX).

This evening we got earnings from Wynn Resorts Limited (WYNN) -7.5%

Here’s what’s on tap tomorrow:

Key Economic Data:
16 October 2015- Industrial Production 9:15 AM ET

Key Earnings:
16 October 2015- GE, HON, KSU