October 27, 2015 Market Wrap Up

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The S&P 500 closed the day relatively flat, it appears that the market is awaiting further news from the FOMC meeting tomorrow.

Earlier today we got earnings results from Pfizer (PFE) +2.4%, Merck (MRK) +1%, and Du Pont (DD) +2.7%.

This evening we got earnings out of Apple (AAPL) -1%, Gilead Sciences (GILD) flat, and Twitter (TWTR) -11%.

The VIX continues to show few signs of panic, as it closed the day at 15.43.

The energy sector was relatively weak; the United States Oil Fund (USO) was down more than 1% today.

On the options front, we saw bullish call buying in YRC Worldwide (YRCW). Options that saw bearish put buying in Chesapeake Energy (CHK).

In other news, Walgreens (WBA) announced that they are buying Rite Aid (RAD) for $9.41 billion.

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

Key Economic Data:
28 October 2015- FOMC Meeting Announcement 2:00 PM ET
29 October 2015- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
30 October 2015- Personal Income 8:30 AM ET

Key Earnings:
28 October 2015- GRMN, HLT, HOT, IMAX, IP, LVLT, MDLZ, NOV, TMUS, VLO, WBA, VW, AMGN, ATML, CRUS, FFIV, GPRO, LOCK, WMB, PYPL, NE, MUR, CAVM
29 October 2015- AET, CLF, COP, ESV, JAH, JCI, KERX, MO, NOK, MTH, TEVA, TWC, VALE, ZBH, BIDU, EA, LNKD, MOBL, SBUX, WU, SCTY
30 October 2015- ABBV, CVS, XOM, MYL, CVX, CL, ETN

October 25, 2015 The Week Ahead

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The S&P 500 continued its hot streak, closing the week up more than 2%. In fact, the SPDR S&P 500 (SPY) is up more than 7% on the month. Not only that, but we’re about 15% of this year’s lows.

The NASDAQ also got a giant boost after getting good earnings out of the likes of Microsoft, Amazon, and Google.

With that said, the VIX is below 15, a signal that there isn’t much fear in the market at the moment.

The United States Oil Fund (USO) was down more than 6% on the week. We continue to see a dislocation from the equity market and the energy market.

This is an extremely busy week in regards to earnings and economic data. Key economic information that will be released includes GDP and an FOMC meeting announcement.

On the earnings front we’ll see releases out of the likes of Apple, Starbucks, Twitter, GoPro, Exxon, and Pfizer to name a few.

Key Economic Data:
26 October 2015- New Home Sales 10:00 AM ET
27 October 2015- Durable Goods 8:30 AM ET
28 October 2015- FOMC Meeting Announcement 2:00 PM ET
29 October 2015- GDP 8:30 AM ET, Jobless Claims 8:30 AM ET
30 October 2015- Personal Income 8:30 AM ET

Key Earnings:
26 October 2015- CHKP, XRX, BRCM, CAKE, HIG, PMCS, PRE
27 October 2015- AKS, AMTD, BEAV, BMY, CMCSA, CNX, COH, DD, F, GLW, GRUB, HUN, KKR, LXK, MAS, MRK, UPS, PFE, WYN, AAPL, AKAM, ESRX, APC, GILD, INFN, MAC, PNRA, SFLY, TER, TWTR, VDSI
28 October 2015- GRMN, HLT, HOT, IMAX, IP, LVLT, MDLZ, NOV, TMUS, VLO, WBA, VW, AMGN, ATML, CRUS, FFIV, GPRO, LOCK, WMB, PYPL, NE, MUR, CAVM
29 October 2015- AET, CLF, COP, ESV, JAH, JCI, KERX, MO, NOK, MTH, TEVA, TWC, VALE, ZBH, BIDU, EA, LNKD, MOBL, SBUX, WU, SCTY
30 October 2015- ABBV, CVS, XOM, MYL, CVX, CL, ETN

October 22, 2015 Market Wrap Up

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The S&P 500 was on fire today, closing the day up near 2%. The SPDR S&P (SPY) is now up more than 6% on the month.

The market opened up strong after earnings from McDonalds posted better than expected earnings. The stock price closed the day up a little more than 8%.

The VIX continues to get leveled, it closed the day at 14.45, down more than 13%.

The energy sector was relatively flat; however, we did see some strength in some energy stocks in the likes of Exxon Mobil (XOM), which was more than 3%.

On the options front, we saw bullish call buying in Vmware (VMW). Options that saw bearish put buying in AbbVie (ABBV).

This evening we got earnings from Alphabet (GOOGL) +9% , Amazon (AMZN) +9.7%, and Microsoft (MSFT) +8%.

Here’s what’s on tap tomorrow:

23 October 2015- AAL, PG

October 20, 2015 Market Wrap Up

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The S&P 500 was nearly flat today, closing the day down less than half of a percent. The SPDR S&P (SPY) is now up more than 4% on the month.

Earnings thus far have been average at best. We’ve seen some poor results from the likes of NFLX, IBM, WMT, and MS to name a few.

Interestingly, the VIX spiked 5% today, now trading at 15.75.

The energy sector was relatively flat; however, the United States Oil Fund (USO) has been dislocating from the equity markets. It’s clearly lost some steam while the equity markets keep moving higher.

On the options front, we saw bullish call buying in Heron Therapeutics (HRTX). Options that saw bearish put buying in Twenty First Century Fox Inc (FOX).

This evening we got earnings from Chipotle Mexican Grill (CMG) -3%, Yahoo! (YHOO) -3%, and Cree (CREE) -1.4%

Here’s what’s on tap tomorrow:

Key Economic Data:
22 October 2015- Jobless Claims 8:30 AM ET, Existing Home Sales 10:00 AM ET

Key Earnings:
21 October 2015- BA, GM, IPG, KMB, KO, STJ, SVU, TEX, CAKE, CCI, EBAY, MLNX, SNDK, TXN, URI, WFT
22 October 2015- BEN, CAM, CAT, DAN, CY, DGX, DNKN, DOW, DPS, FCX, LLY, JNS, LAZ, LUV, MCD, MJN, MMM, NDAQ, SWK, ALTR, AMZN, ATHN, COF, MSFT, QLIK, SYNA, T
23 October 2015- AAL, PG

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

October 13, 2015 Market Wrap Up

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October 13, 2015 Market Wrap Up

The S&P 500 closed the day slightly lower; however, volume was extremely light. The SPDR S&P traded less than 87 million shares compared to the typical 140-150 million shares we’ve been used to seeing. In respect to the Dow Jones Industrials, its 7-day winning streak was snapped.

With that said, the VIX finally showed some life. It was up over 9% and is now at 17.67.

The energy sector was weak; the United States Oil Fund (USO) was down nearly 2%.

On the options front, we saw bullish call buying in Salesforce.com (CRM). Options that saw bearish put buying in KLA Tencor Corporation (KLAC).

This evening we got earnings from Intel (INTC) -.2% and JPMorgan Chase (JPM) -1%.

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October 12, 2015 Market Wrap Up

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October 12, 2015 Market Wrap Up

The S&P 500 closed the day slightly higher; however, volume was extremely light. The SPDR S&P 500 ETF (SPY) traded less than 60 million shares. To put that into perspective, it normally trades around 145 to 150 million shares per day.

With that said, the VIX has melted over the last two weeks. It was down over 5% and is now at 16.17.

The energy sector was weak; the United States Oil Fund (USO) was down 4%. Last week, it rallied with the stock market, so far we are seeing a divergence.

On the options front, we saw bullish call buying in Cabelas Incorporated (CAB). Options that saw bearish put buying were in DeVry Education Group Inc (DV) and 2U Inc (TWOU). Now, the put activity in (TWOU) could be attributed to negative comments made out by Citron Research, as the stock dropped nearly 18%.

Today was a bank holiday, but the action should pick up as we get more economic data and earnings later this week.

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

Key Economic Data:
14 October 2015- PPI 8:30 AM ET, Retail Sales 8:30 AM ET
15 October 2015- Consumer Price Index 8:30 AM ET, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 10:00 AM ET
16 October 2015- Industrial Production 9:15 AM ET

Key Earnings:
13 October 2015- FAST, ADTN, CSX, INTC, JPM, LLTC
14 October 2015- BAC, BLK, DAL, WFC, NFLX, XLNX
15 October 2015- BX, C, FCS, GS, KEY, MAT, MTG, PM, PPG, SCHW, TSM, USB, AMD, SLB
16 October 2015- GE, HON, KSU

October 11, 2015 The Week Ahead

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October 11, 2015 The Week Ahead

The S&P 500 ended the week significantly higher, up over 3% and now trading above 2000. In fact, we’re just 5% off from the 52 week high and nearly 13% above the 52 week lows.

With that said, the VIX closed around 17, dropping more than 15% for the week.

Many attribute this move higher to the fact that the Fed is less likely to raise rates this year. In addition, incoming weak economic data makes it more likely we won’t see a rate hike any time in the near future. We’re back to the ol’ bad news is good for the market mantra.

Crude Oil futures closed the week at one month highs… nearly $3 away from 3-month highs. The United States Oil Fund (USO) was up more than 8% on the week.

Earnings season picks up steam this week as we’ve got earnings from the likes of The Goldman Sachs Group, Delta Air Lines, Intel Corporation, General Electric, and Netflix to name a few.

Key Economic Data:
14 October 2015- PPI 8:30 AM ET, Retail Sales 8:30 AM ET
15 October 2015- Consumer Price Index 8:30 AM ET, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 10:00 AM ET
16 October 2015- Industrial Production 9:15 AM ET

Key Earnings:
12 October 2015- INFY
13 October 2015- FAST, ADTN, CSX, INTC, JPM, LLTC
14 October 2015- BAC, BLK, DAL, WFC, NFLX, XLNX
15 October 2015- BX, C, FCS, GS, KEY, MAT, MTG, PM, PPG, SCHW, TSM, USB, AMD, SLB
16 October 2015- GE, HON, KSU

October 8, 2015 Market Wrap Up

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October 8, 2015 Market Wrap Up

The S&P 500 has been on an absolute tear lately. Today it finished up, making it 7 out of the last 8 days. We are now just 5% off the 52-wk highs.

We went from an extremely oversold condition to very bullish in a very short period. Many believe that the Fed will not touch rates this year. With that said, the VIX was down, closing at 17.42, the third closing price below 20 this week.

The energy sector was strong; the United States Oil Fund (USO) was up nearly 3%. Now, up nearly 10% for the week.

On the options front, we saw bullish call buying in Maxim Integrated Products (MXIM). Options that saw bearish put buying were in Zimmer Biomet Holdings (ZBH).

Earnings kicked off with Alcoa (AA), at the time of this writing, the stock is down more than 4%.

Here’s what’s on tap for tomorrow:

Key Economic Data:
8 October 2015- Jobless Claims 8:30 AM ET, FOMC Minutes 2 PM ET

October 6, 2015 Market Wrap Up

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October 6, 2015 Market Wrap Up

The S&P 500 finished the day slightly lower, after five straight days of upward action. Interestingly, that was the longest winning streak of the year (to-date).

The biotech continues to get hit; some politicians and media are expressing anger towards the way many of these companies are conducting business. For example, Pfizer (PFE) has raised prices on 133 drugs this year…and they are not the only ones. The iShares Nasdaq Biotechnology Index Fund (IBB) is down over 10% over the last month.

The VIX was up, closing at 19.40, the second closing below 20 this week.

The energy sector was up today; the United States Oil Fund (USO) was up nearly 5%.

On the options front, we saw bullish call buying in Immunomedics (IMMU). Options that saw bearish put buying were in Jabil Circuit (JBL).

Key Economic Data:
8 October 2015- Jobless Claims 8:30 AM ET, FOMC Minutes 2 PM ET

Key Earnings:
7 October 2015- MON, STZ
8 October 2015- DPZ, AA

Key Events:
6 October 2015 (runs till the 9th)- Amazon Services Invent Conference