November 23, 2016 Market Wrap Up

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The S&P 500, Dow, and Russell 2000 closed on record highs today. Of course, volume was light ahead of Thanksgiving. The big economic news was the release of the FOMC minutes. At the moment, the market is pricing in a rate hike for the December meeting. In addition, the dollar index saw its highest close in over a decade.

The VIX was relatively unchanged as it closed at 12.43.

Crude oil futures were relatively unchanged, all eyes will be on next week’s OPEC meeting. Overall, crude oil futures are up on the week in hopes that the meeting results in some type of production cut.

On the options front, we saw large call buying activity in ON Semiconductor (ON), which traded 13.8 times normal option volume. In addition, we saw heavy put buying in Waste Connections (WCN), which saw 9.9 times normal options volume.

The markets are closed tomorrow for the Thanksgiving holiday and will be open till 1 PM ET on Friday. With that said, have a happy and safe Thanksgiving!

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

Key Economic Data:
25 Nov 2016- International Trade In Goods 8:30 AM ET

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November 22, 2016 Market Wrap Up

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The S&P 500 closed the day higher, and is now up nearly 1% on the week. With that said, we’re sitting right around 52-week highs. The Dow traded above 19000 for the first time ever, and the Russell 2000 is now up 13-straight days. This is a shortened week for the markets, there will be no trading on Thursday for Thanksgiving, and Friday will be a shortened day as the markets close at 1 PM ET.

Expect volumes to die down. However, the FOMC minutes will be something closely watched tomorrow by traders.

The VIX continues it’s decline and is now trading below 12.50, today it closed at 12.41.

There has been a ton of headline news surrounding crude oil futures, with the OPEC meeting set for later this month. At this point in time, it’s hard to believe any rumors, so we’re in a wait and see mode. Crude Oil futures caught a bid on Monday in hopes of a production cut.

On the options front, we saw large call buying activity in Autoliv (ALV), which traded 23.1 times normal option volume. In addition, we saw heavy put buying in Titan Machinery (TITN), which saw 41.9 times normal options volume.

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

Key Economic Data:
23 Nov 2016- Durable Goods Orders 8:30 AM ET, Jobless Claims 8:30 AM ET, New Home Sales 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Minutes 2:00 PM
25 Nov 2016- International Trade In Goods 8:30 AM ET

Key Earnings:
23 Nov 2016- DE

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November 15, 2016 Market Wrap Up

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The S&P 500 was up today on lower than average volume, however; the move was large enough to erase the previous two losing sessions. The Nasdaq had a nice bounce today, over the last week or so, the FANG stocks have not performed well relative to the market.

One of the more active names today was Dryships (DRYS), +66%, it traded in a range between 45.40 to 102, finally closing at $73. Many attribute the move to the low float, and an extremely high short interest ratio. The sector in general, has been on a tear after it was announced that Donald Trump would become the 45th President of the United States of America.

The VIX got crushed today, dropping nearly 8% and closing below 13.50, at 13.37.

Crude oil futures prices caught a bid today, rising nearly 6% and snapping a 3-day losing streak. Keep in mind, that API numbers are this evening, and DOE numbers are tomorrow.

On the options front, we saw large call buying activity in US Bancorp (USB), which traded 2.6 times normal option volume. In addition, we saw heavy put buying in Resource Capital Corporation (RSO), which saw 6.7 times normal options volume.

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

Key Economic Data:
16 Nov 2016- PPI 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:300 AM ET
17 Nov 2016- Consumer Price Index 8:30 AM ET, Housing Starts 8:30 AM ET, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET

Key Earnings:
16 Nov 2016- TGT, LOW, CSCO, NTAP, LB
17 Nov 2016- BBY, HP, SPLS, WMT, AMAT, CRM, GPS, INTU, MRVL, NUAN, POST, ROST
18 Nov 2016- ANF, BKE, FL

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November 13, 2016 The Week Ahead

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The S&P 500 bounced back from last week, rising more than 3.5% during a very eventful week in the U.S. Early on Wednesday, it was declared that Donald Trump would become the 45th President of the United States of America. Early signs point to his presidency having an inflationary impact on markets. Certain sectors related to infrastructure and banking have performed well early on.

The Russell 2000 has outperformed the S&P 500, while the Nasdaq was relatively flat on the week.

The VIX was trading above 22 just a week ago, now it’s back to trading around 14. On Friday it closed at 14.17.

Crude oil futures price sold nearly 2% on the week, closing below $44, and are now roughly 16% off the 52-week highs. On the other hand, gold futures prices slid heavily over the week. When the dust settled, gold futures prices were down more than 6% on the week.

Key Economic Data:
15 Nov 2016- Retail Sales 8:30 AM ET
16 Nov 2016- PPI 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:300 AM ET
17 Nov 2016- Consumer Price Index 8:30 AM ET, Housing Starts 8:30 AM ET, Jobless Claims 8:30 AM ET, Philadelphia Fed Business Outlook Survey 8:30 AM ET

Key Earnings:
14 Nov 2016- INFO, ZOES, AAP, AR,
15 Nov 2016- DKS, HD, JD, MBLY, TEVA, VOD, ZBRA, SSYS, TJX, ARMK, BZH, A
16 Nov 2016- TGT, LOW, CSCO, NTAP, LB
17 Nov 2016- BBY, HP, SPLS, WMT, AMAT, CRM, GPS, INTU, MRVL, NUAN, POST, ROST
18 Nov 2016- ANF, BKE, FL

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November 10, 2016 Market Wrap Up

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The S&P 500 has been on a tear the last two days after it was announced that Donald Trump will be the new President of the United States of America. With that said, we’re seeing investors shift out of certain sectors into new ones. For example, infrastructure related stocks, oil and gas, medical, and banking are some sectors that have benefited early on. However, the tech space has not been as strong.

The VIX actually rose a little, but is now trading well below 15. It was just a couple days ago where we saw the VIX trade above 20.

Stocks in play today included: 58.com (WUBA) -18%, Silver Wheaton Corp (SLW) -16%, Dryships (DRYS) +126%, and Top Ships (TOPS) +22%

Crude oil futures prices sold off a little, snapping a 3-day winning streak.

On the options front, we saw large call buying activity in Union Pacific (UNP), which traded 2.5 times normal option volume. In addition, we saw heavy put buying in Asanko Gold (AKG), which saw 31.6 times normal options volume.

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

Key Earnings:
11 Nov 2016- JCP

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November 8, 2016 Market Wrap Up

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The S&P 500 closed higher for the second straight day following a nine day losing streak. Of course, all eyes are on this evening’s US Presidential elections. From what we’ve witnessed over the past few weeks it seems like the market prefers Hillary over Donald. With the race very tight traders will be watching the futures as results start coming in.

The VIX was relatively flat given the uncertainty leading up to this evening’s elections. It closed today at 18.74.

Stocks in play today included: Hertz Global (HTZ) -22%, CVS (CVS) -11.5%, and Valeant Pharmaceuticals (VRX) -22%

Crude oil futures prices closed relatively flat on this election day.

On the options front, we saw large call buying activity in Kellogg (K), which traded 4.3 times normal option volume. In addition, we saw heavy put buying in WPX Energy (WPX), which saw 6.3 times normal options volume.

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

Key Economic Data:
8 Nov 2016- U.S. Presidential Election
9 Nov 2016- EIA Petroleum Status Report 10:300 AM ET
10 Nov 2016- Jobless Claims 8:30 AM ET

Key Earnings:
8 Nov 2016- DHI, JCI, OA, QVCA, SEAS, VRX, W, TRIP
9 Nov 2016- COTY, DISH, KITE, WEN, WWAV, NTES, SHAK, SPWR, TASR, TUBE, VRTU
10 Nov 2016- AZN, FLO, M, KSS, PRGO, PRTY, RL, WIX, BUFF, DIS, JWN, KORS, NVDA
11 Nov 2016- JCP

Key Conferences:
7 Nov 2016- Credit Suisse Healthcare Conference (runs till 11/9); Edison Electric Institute Conference (runs till 11/9)
8 Nov 2016- Baird Industrial Conference (runs till 11/10); Stephens Fall Investor Conference (runs till 11/9)
9 Nov 2016- RBC Capital Tech, Internet, Media/Telco Conference (runs till 11/10); UBS Building & Building Products Annual CEO Conference (runs till 11/9); Wells Fargo Technology, Media & Telecom Conference (11/10)

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November 6, 2016 The Week Ahead

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The S&P 500 finished the week on a nine day losing streak as fears of a Donald Trump Presidency is now very much in play. Over the last two weeks, Hillary Clinton has lost a ton of momentum and the market has reacted in a similar fashion. However, on Sunday, the FBI’s Comey announced that Hillary was free of any wrong doing pertaining to her emails, and we’re seeing a nice bump in the futures prices on Sunday. We shall see what happens on election day Tuesday.

The VIX gained more than 6 points on the week and closed above 22.50 on Friday.

Crude oil futures price sold nearly 10% on the week, closing below $50 and now roughly 15% off the 52-week highs.

Earnings will be heavy again, but the main event is clearly the election on Tuesday.

Here is what else is on the schedule for the upcoming week:

Key Economic Data:
8 Nov 2016- U.S. Presidential Election
9 Nov 2016- EIA Petroleum Status Report 10:300 AM ET
10 Nov 2016- Jobless Claims 8:30 AM ET

Key Earnings:
7 Nov 2016- AMC, ARIA, BID, CTSH, DF,ELNK, FDC, HSBC, HZNP, LC, MGM, RACE, ROK, ACAD, CRAY, CZR, FANG, HTZ, MAR, NWSA, PCLN
8 Nov 2016- DHI, JCI, OA, QVCA, SEAS, VRX, W, TRIP
9 Nov 2016- COTY, DISH, KITE, WEN, WWAV, NTES, SHAK, SPWR, TASR, TUBE, VRTU
10 Nov 2016- AZN, FLO, M, KSS, PRGO, PRTY, RL, WIX, BUFF, DIS, JWN, KORS, NVDA
11 Nov 2016- JCP

Key Conferences:
7 Nov 2016- Credit Suisse Healthcare Conference (runs till 11/9); Edison Electric Institute Conference (runs till 11/9)
8 Nov 2016- Baird Industrial Conference (runs till 11/10); Stephens Fall Investor Conference (runs till 11/9)
9 Nov 2016- RBC Capital Tech, Internet, Media/Telco Conference (runs till 11/10); UBS Building & Building Products Annual CEO Conference (runs till 11/9); Wells Fargo Technology, Media & Telecom Conference (11/10)

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November 3, 2016 Market Wrap Up

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The S&P 500 closed the day lower, making it 8 straight losing sessions in a row. Many believe that the uncertainty in the upcoming US Presentational election has been the catalyst for the sell-off. With that said, based on the markets reaction, they are pro-Hillary. Unfortunately, she has been dropping in the polls because of all the alleged criminal activities she has been involved in.

The VIX absolutely surged today, closing 11.4% higher, at 22.08.

Stocks in play today included: Lannett Co. (LCI) -22%, WPX Energy (WPX) +11.9%, Ishares Nasdaq Biotech ETF (IBB) -3%

Crude oil futures prices have sold off about 9% this week, and are on a four-day losing streak.

On the options front, we saw large call buying activity in Dynegy (DYN), which traded 4.6 times normal option volume. In addition, we saw heavy put buying in Tenet Healthcare Corp. (THC), which saw 166 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
4 Nov 2016- Employment Situation 8:30 AM ET; International Trade 8:30 AM ET

Key Earnings:
4 Nov 2016- DUK, HUM, MSG, NRG, REGN, REV, RLGY, WLTW

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November 1, 2016 Market Wrap Up

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The S&P 500 closed the day lower, on above average volume. The VIX surged above 20 at one point during the day as we enter what seems to be a very volatile week. With that said, we’ve got earnings going on, an FOMC meeting, along the US Presidential race coming down the stretch.

It appears that the current scandals surrounding Hillary Clinton are having an effect on the market. From what we’ve seen over the last couple of weeks, the markets are pro-Hillary. As Donald Trump gains traction, the markets tend to react negatively towards that.

Stocks in play today included: Valeant Pharmaceuticals International (VRX) +29% and Pitney Bowes (PBI) -18.4%.

Crude oil futures prices have sold off 10% over the last three trading sessions as they’re now approaching 1-month lows.

On the options front, we saw large call buying activity in Finish Line (FINL), which traded 4.7 times normal option volume. In addition, we saw heavy put buying in Univar (UNVR), which saw 166 times normal options volume.

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

Key Economic Data:
2 Nov 2016- EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET
3 Nov 2016- Jobless Claims 8:30 AM ET
4 Nov 2016- Employment Situation 8:30 AM ET; International Trade 8:30 AM ET

Key Earnings:
2 Nov 2016- ABC, ADP, AGN, BABA, BG, CRL, EL, FLOW, FUN, HST, KATE, NBL, NYT, ODP, SHOP, TWX, VMC, VOYA, VSI, ZTS, AIG, CLR, DVA, CTL, FB, FIT, FNF, FOX, G, GDDY, HOLX, HUBS, IAC, IL, LPLA, MET, MRO, PAA, QCOM, QTWO, RIG, TROX, TTWO, WFM, ZNGA
3 Nov 2016- AMAG, AMCX, APA, AVP, BLL, CHK, COMM, CS, CYBR, DDD, DNR, FIG, GOGO, H, HAR, LAMR, LDOS, LNG, LVLT, PNW, RGEN, SFM, SMG, TIME, AGO, ATVI, CBS, CSOD, FEYE, FLR, FOSL, GPRO, IMPV, INVN, KHC, LGF, LVS, MHK, MSI, NUS, OLED, SBUX, SWKS, SYMC, TIVO, TWLO, UBNT, WTW
4 Nov 2016- DUK, HUM, MSG, NRG, REGN, REV, RLGY, WLTW

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October 30, 2016 The Week Ahead

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The S&P 500 finished the week on a four day losing streak. This sets the stage for another busy earnings week along with the November FOMC Meeting. Not to mention, the US Presidential debate coming down the stretch (in less than 2 weeks). On Friday, the markets started to sell off after a report came out that the FBI was going to reopen an investigation on Presidential Candidate Hillary Clinton.

The VIX has surged more than 20% since the previous Friday’s close and is now above 16.

Crude oil futures price sold off more than 4% on the week, closing below $50 and now roughly 6% off the 52-week highs. Moving on, gold futures prices rose .78% and T-Bond futures prices sold off more than 1.5% on the week.

Earnings will be heavy again, some key names to watch include: Gilead Sciences, Qualcomm, Starbucks, and Time Warner Cable.

Here is what else is on the schedule for the upcoming week:

Key Economic Data:
31 Oct 2016- Personal Income and Outlays 8:30 AM ET
1 Nov 2016- ISM Mfg Index 10:00 AM ET
2 Nov 2016- EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting Announcement 2:00 PM ET
3 Nov 2016- Jobless Claims 8:30 AM ET
4 Nov 2016- Employment Situation 8:30 AM ET; International Trade 8:30 AM ET

Key Earnings:
31 Oct 2016- BSFT, CAH, CTB, DO, L, LL, LPX, MCY, WMB, ZBH, APC, DK, ENH, IDTI, NLS, RAIL, RYAM, TEX, THC, TSO, VNO

1 Nov 2016- ADM, BP, CMI, COH, DISCA, EMR, ETN, FIS, ICE, IRM, K, KBR, MOS, OXY, PFE, SHPG, TAP, UBS, CAVM, CERN, DATA, DNB, DVN, DXCM, DYN, EA, EIX, ETSTY, FIVN, FTR, GILD, HLF, ILMN, LOCK, MTW, MYGN, PXD, SBAC, TSRA, WBMD, WU, X, ZEN, ZG

2 Nov 2016- ABC, ADP, AGN, BABA, BG, CRL, EL, FLOW, FUN, HST, KATE, NBL, NYT, ODP, SHOP, TWX, VMC, VOYA, VSI, ZTS, AIG, CLR, DVA, CTL, FB, FIT, FNF, FOX, G, GDDY, HOLX, HUBS, IAC, IL, LPLA, MET, MRO, PAA, QCOM, QTWO, RIG, TROX, TTWO, WFM, ZNGA

3 Nov 2016- AMAG, AMCX, APA, AVP, BLL, CHK, COMM, CS, CYBR, DDD, DNR, FIG, GOGO, H, HAR, LAMR, LDOS, LNG, LVLT, PNW, RGEN, SFM, SMG, TIME, AGO, ATVI, CBS, CSOD, FEYE, FLR, FOSL, GPRO, IMPV, INVN, KHC, LGF, LVS, MHK, MSI, NUS, OLED, SBUX, SWKS, SYMC, TIVO,TWLO, UBNT, WTW

4 Nov 2016- DUK, HUM, MSG, NRG, REGN, REV, RLGY, WLTW

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