December 29, 2015 Market Wrap Up
The S&P 500 is up over 1% over the last two days on relatively low volume. With that said, we’ve got just two more trading days till the year is over. Will all three major indices finish positive? At the moment, NASDAQ and the S&P 500 are both positive. However, the Dow Jones Industrial Average (DJI) is still down slightly.
The VIX continues to see a big sell off, it’s now trading around 16 and was down about 5% on the day.
Oil names caught a small bounce, the United States Oil Fund (USO) was up nearly 2% after the API Inventory numbers came out in the after hours.
Stocks in play today included: Sunedison (SUNE) -9%, FXCM +26%, and Amazon (AMZN) +2.8%.
On the options front, we saw large call buying activity in Newell Rubbermaid Inc. (NWL). We also saw aggressive put buying in Ultra Petroleum Corp (UPL).
As mentioned earlier this week, there isn’t much going on data wise.
Key Economic Data:
31 December 2015- Jobless Claims 8:30 AM ET