April 21, 2016 Market Wrap Up
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