April 26, 2015 The Week Ahead

The S&P 500 and other major indices continue to surge higher. The NASDAQ, closed the week at an all-time high and the VIX is at yearly lows (closing at this year’s lows).

This upcoming week is jam-packed with earnings and economic headlines. On the earnings front, we have heavy hitters like Exxon Mobil and Apple reporting. Thus far, we’ve had about 40% of the earnings complete. For the most part, they’ve been relatively lackluster; however, the market has shrugged off any bad news.

Key economic data includes GDP and the FOMC Announcement.

We’ve got enough data and earnings coming out to really push this market. It will either continue to move higher or we could have some hiccups along the way. So far this year, the VIX has not hung out in the 12 range for too long. Will this continue to be the case or is market volatility going to continue to be non-existent?

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April 23, 2015 Market Wrap Up

The S&P 500, DOW, and the NASDAQ all closed higher today. For the NASDAQ, it was an all-time high. The VIX is now near it’s 52-week lows, closing at 12.47.

Crude oil futures closed the day relatively strong; the United States Oil ETF (USO) settled in at $19.76, a gain of more than 2%.

On the options front, we saw bullish call buying in ChannelAdvisor Corporation (ECOM), Bearish option bets were made in Cooper Tire and Rubber Co (CTB). It’s worth noting, a lot of the option activity is related to pre- and post-earnings, making it difficult to read.

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April 21, 2015 Market Wrap Up

The S&P 500 closed slightly negative today; however, the VIX sold off, closing at 13.25. At the moment, trading is dominated by focusing in on individual stock names. Specifically, those stocks and sectors that are experiencing earnings.

Only a small percentage of S&P 500 companies have reported thus far; however, the majority of them have beat estimates. A positive sign, and one of the main reasons the market has been able to shake off Friday’s sell-off.

Crude oil futures closed the day relatively weak, with the United States Oil ETF (USO) settling in at $19.45, a drop of more than 2%.

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April 19, 2015 The Week Ahead

The S&P 500 closed the week after Friday’s sell-off. A sell-off, which saw a massive spike in the VIX, gained over 10% on Friday.

Many believe the selling pressure was attributed to headlines out of Greece and weakness out of China.

In energy news, The United States Oil Fund ETF (USO) climbed higher again this week. It’s now trading at 19.84, that’s more than 4 points off it’s 52-week lows.

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April 16, 2015 Market Wrap Up

The S&P 500 closed slightly negative today; however, the VIX continued to sell off and is currently trading below the 13 level. All in all, it was a relatively quiet day.

One of the biggest moves we saw today was in Netflix Inc (NFLX), which was up over 18% and closing at all-time highs after their earnings release.

Crude oil futures closed higher yet again today, taking us to highs we have not seen in three months.

On the options front, we saw bullish call buying in Enbridge Inc (ENB), Gogo Inc (GOGO) and ON Semiconductor (ON). Bearish option bets were made in DHT Holdings Inc New (DHT) and Flextronics International Ltd (FLEX).

Here’s what’s on tap for Friday.

Key Economic Data:
17 April 2015- Consumer Price Index 8:30 AM ET

Key Earnings:
17 April 2015- HON, GE, and STX

April 15, 2015 Market Wrap Up

The S&P 500 flexed its muscle today… closing the day higher and close to yearly highs. So far, the reactions to earnings have been relatively positive. Intel (INTC) was up over 4% and Netflix (NFLX) was up over 11% in the after-hours market.

In addition, we’re continuing to see strength in the energy sector. Crude oil futures have been up four straight trading sessions. We’re near the highest prices we’ve seen in nearly three months. A couple days ago, we saw a monster-sized option order in Exxon Mobil Corporation (XOM), a trader came in and bought over 40k May 90 calls for $0.32. At one point, they were trading for around a $1.

Not too shabby for two days worth of work.

With the market turning bullish, it’s no surprise that volatility is getting sucked out of the market, the VIX dropped more than 6%, closing at 12.84.

On the options front, we saw bullish call buying in Dominos Pizza Inc (DPZ), Skechers (SKX), and CenterPoint Energy Inc (CNP). Bearish option bets were made in Kapstone Paper and Packaging Corporation (KS).

Moving forward, we’ve got to pay attention to the economic events as well the earnings announcements. Here’s what’s left this week:

Key Economic Data:
16 April 2015- Housing Starts 8:30 AM ET, Jobless Claims 8:30 AM ET, Philly Fed Business Outlook Survey 10:00 AM ET
17 April 2015- Consumer Price Index 8:30 AM ET

Key Earnings:
16 April 2015- BLK, GS, C, PM, PPG, TSM, AXP, MAT, and SLB
17 April 2015- HON, GE, and STX

April 12, 2015 The Week Ahead

The S&P 500 closed the week on a 3-day winning streak. Will it spill over into this week? Well, we’ll see. There is a healthy amount of economic numbers coming out. Most importantly, there are a slew of earnings being released by financial institutions. The results of these earnings could play a major factor on the markets behave this week.

Given the recent market strength, it was no surprise to see the VIX lose it’s teenage status, closing at 12.58 on Friday.

In energy news, The United States Oil Fund ETF (USO) closed the week higher. It’s almost $3 off it’s 52 week low, trading at $18.41 per share.

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April 9, 2015 Market Wrap Up

The S&P 500 closed the day higher; however, the volume was relatively light. Some of the highlights included a resurgence in the US Dollar, which climbed 1% higher. In international news, Greece was able to make their payment to the IMF.

Volatility got sucked out of the market, the VIX dropped more than 6%, closing at 13.09.

Energy prices rebounded today after yesterdays Department Of Energy numbers showed a huge build in crude oil stock. The United States Oil ETF closed at $18.03.

In individual stock news, Altera Corp (ALTR) was extremely volatile today. The stock price gapped down in the pre-market; however, it managed to close significantly higher on the day. The move was attributed to a CNBC story that stated that Intel (INTC) pulled their offer for Altera off the table because Altera rejected their bid which was in the $50+ range.

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April 7, 2015 Market Wrap Up

The S&P 500 closed the day lower; which was somewhat of a surprise, given that we were trading higher the whole day up until the last half hour. Of course, the biggest news of the week will come tomorrow. First, with the FOMC minutes in the afternoon; after the market close, earnings season kicks off with Alcoa (AA) after the bell.

Despite the end of day sell off, the VIX was nearly unchanged, staying under 15.

The energy sector continued it strength, many attribute it to yesterday, after Saudi Arabia raised their prices for crude to the Asian market. The United States Oil ETF closed at $19.06, good for a 3.4% move.

In individual stock news, FedEX (FDX) agreed to purchase TNT Express for $4.8 billion. The deal should help FedEX expand their operation over in Europe.

On the options front, we saw bullish call buying in OraSure Technologies (OSUR), CSX Corporation (CSX), and InterContinental Hotels Group Plc New (IHG). In addition, We saw bearish options activity in Hilton Worldwide Holdings Inc (HLT).

Here’s what’s left on the schedule this week.

Key Economic Data:
8 April 2015- FOMC Minutes 2:00 PM ET
9 April 2015- Jobless Claims 8:30 AM ET

Key Earnings:
8 April 2015- FDO, RAD, AA APOG, BBBY, PIR
9 April 2015- WBA, STZ

April 5, 2015 The Week Ahead

The S&P 500 closed the week relatively flat. Which doesn’t really come as a surprise, given we had a shortened week. However, we should see activity pick up again as earnings season is around the corner.

The VIX also finished the week relatively flat, closing at 14.54. We could see volatility creep back into the markets. Greece’s Finance Minister Yanis Varoufakis is meeting with IMF chief Christine Lagarde today in Washington. This is ahead of their April 9 deadline, in which they owe a payment to the IMF. Any whispers of Greece leaving the Euro could cause a spike in volatility.

The big news this week was that Iran and world leaders reached a nuclear accord. The United States Oil Fund ETF (USO) closed the week slightly higher. It’s now $2 off it’s 52 week low, trading at $17.54 per share.

Here’s what’s on schedule this week:

Key Economic Data:
8 April 2015- FOMC Minutes 2:00 PM ET
9 April 2015- Jobless Claims 8:30 AM ET

Key Earnings:
7 April 2015- PLAY
8 April 2015- FDO, RAD, AA APOG, BBBY, PIR
9 April 2015- WBA, STZ

We’ll be back on Tuesday with the market update. Have a Happy Easter Sunday for those celebrating the holiday today.