March 14, 2017 Market Wrap Up

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We saw some weakness in the market today, lead by declines seen in small caps. It’s worth mentioning that volumes were relatively low, as most of the northeast was dealing with the winter storm Stella.

All eyes will be on the FOMC tomorrow and their much anticipated announcement on key interest rates. As of now, the market is anticipating a rate hike, however; they would like to get greater clarity on how quickly they plan raising them.

The VIX closed higher today, at 12.30, a gain of 8.37%

ETF Performers: United States Oil Fund (USO) -0.88%, iShares 20+ Year Treasury Bond (TLT) +0.48%, SPDR Gold Shares (GLD) -0.54%.

On the options front, we saw large call buying activity in Gerdau SA (GGB), which traded 2.3 times normal option volume. In addition, we saw heavy put buying in Zynerba Pharmaceuticals Inc. (ZYNE), which traded 2.0 times normal option volume.

Here is what is on tap for tomorrow and the rest of the week.

Key Economic Data:
15 March 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Meeting Announcement 2:00 PM ET; FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
16 March 2017- Housing Starts 8:30 AM ET; Jobless Claims 8:30 AM ET; Philly Fed Business Outlook Survey 8:30 AM ET
17 March 2017- Industrial Production 9:15 AM ET

Key Earnings:
15 March 2017- AXAS, ALRM, EVOK, GES, ORCL, WSM, JBL
16 March 2017- INSY, ADBE, CATB, MNKD, XONE, VSLR
17 March 2017- TIF

Key Events:
13 March 2017- J.P. Morgan 2017 Aviation, Transportation & Industrials Conference, 3/13-3/15;
14 March 2017- Barclays Global Healthcare Conference, 3/14-3/16, in Miami, FL

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March 12, 2017 The Week Ahead

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Nearly all major indices closed the week lower, except for the Nasdaq which bucked the trend. The weakest performer was the Russell 2000 Index, which saw a drop of nearly 2%. Interestingly, it also happens to be the weakest performing index year to date as well, posting gains of less than 1%

With earnings mostly behind us, the attention will shift towards the FOMC, and the upcoming policy meeting which will be conducted on Tuesday and Wednesday. On Friday, nonfarm payrolls rose to 235,000 compared to expectations of 200,000. Some market pundits believe that those positive numbers should give the FOMC enough confidence to raise the key interest rate at this upcoming meeting.

We’ll find out soon enough.

Where is the VIX in all of this?

The VIX continues to hangout below 12. On Friday, the VIX closed at 11.66. Based on some of the volatility estimators that we look at, the SPDR S&P 500 has a 20-day volatility of 7.31% compared to its median of 10.90% over the last 3 years.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -9.27%, iShares 20+ Year Treasury Bond (TLT) -1.78%, SPDR Gold Shares (GLD) -2.40%.

Here is a list of some events that traders will be following during the week:

Key Economic Data:
14 March 2017- PPI 8:30 AM ET,
15 March 2017- Consumer Price Index 8:30 AM ET; Retail Sales 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Meeting Announcement 2:00 PM ET; FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
16 March 2017- Housing Starts 8:30 AM ET; Jobless Claims 8:30 AM ET; Philly Fed Business Outlook Survey 8:30 AM ET
17 March 2017- Industrial Production 9:15 AM ET

Key Earnings:
13 March 2017- AR, REN, TACO, CHRS, KMG
14 March 2017- BONT, DSW, HDS, ARNA, CLDX, NPTN, PTCT, RUBI
15 March 2017- AXAS, ALRM, EVOK, GES, ORCL, WSM, JBL
16 March 2017- INSY, ADBE, CATB, MNKD, XONE, VSLR
17 March 2017- TIF

Key Events:
13 March 2017- J.P. Morgan 2017 Aviation, Transportation & Industrials Conference, 3/13-3/15; J.P. Morgan Special Situations Investor Forum, 3/13, in Washington, D.C.
14 March 2017- Barclays Global Healthcare Conference, 3/14-3/16, in Miami, FL

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February 26, 2017 The Week Ahead

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Week after week, the market continues to push through new all-time highs. Regardless, how hard the media tries to paint the picture that the new administration is a mess, the markets are telling us a completely different story.

How long with this dislocation last?

It’s really hard to say. However, on Friday, the Dow Jones Industrials managed to have its 11th straight record high close.

And you know what else?

The VIX continues to hangout below 12. On Friday, the VIX closed at 11.47. Looking forward into the week, traders will be watching GDP numbers along with earnings.

Moving on to gold and oil.

Crude oil futures closed the week higher, finishing up about 1.00%. In precious metals, gold futures prices finished the week higher, gaining more than 1.5%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.44%, iShares 20+ Year Treasury Bond (TLT) +2.00%, SPDR Gold Shares (GLD) +1.37%.

Some key earnings include: Priceline, Hertz, Salesfore.com, and Costco.

Here is a list of some events that traders will be following:

Key Economic Data:
27 Feb 2017- Durable Goods Orders 8:30 AM ET
28 Feb 2017- GDP 8:30 AM ET, International Trade 8:30 AM ET
1 March 2017- Personal Income and Outlays 8:30 AM ET, ISM Manufacturing 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
2 March 2017- Jobless Claims 8:30 AM ET.

Key Earnings:
27 Feb 2017- AES, AFSI, AMT, BID, EMES, HZNP, SSTK, DGI, EXEL, EOG, HTZ, KND, OKE, PCLN, PRGO, THC, WDAY, CST
28 Feb 2017- AZO, CNP, DDD, ENDP, NRG, NLNK, PAH, QVCA, SEAS, SHOO, TGT, VRX, AMBA, BUFF, CRM, DAR, ETSY, EVHC, HALO, LOGM, PANW, TSRO, UHS, VEEV, WTW
1 March 2017- AEO, BBY, CROX, DLTR, DY, IEP, KERX, LOW, MYL, ODP, WIN, AVGO, BOX, KIN, SHAK, XON, VSI
2 March 2017- ANF, BKS, BUD, BURL, JD, JOY, KR, TD, ZEUS, COST, HABT, MRVL, SGMS, WING

Key Events:
27 Feb 2017- JMP Securities Technology Conference (runs till 2/28); Mobile World Congress (runs till 3/2); Morgan Stanley Technology, Media and Telecom Conference (runs till 3/2)

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February 22, 2017 The Week Ahead

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The markets closed mixed today on lower than expected volume. For the most part, we’ve been trending higher with no real hiccup to note of. That said, even the FOMC minutes were a non-event today. The VIX is still trading below 12, as it closed at 11.74.

Strong earnings performers included: Garmin (GRMN), Mobileye (MBLY), and Tesla (TSLA)

Weak earnings performers included: L Brands (LB), Hollyfrontier (HFC), and Terex (TEX)

ETF Performers: United States Oil Fund (USO) -1.56%, iShares 20+ Year Treasury Bond (TLT) +0.17%, SPDR Gold Shares (GLD) +0.14%.

On the options front, we saw large call buying activity in Liberty Interactive (QVCA), which traded 289 times normal option volume. In addition, we saw heavy put buying in Macquarie Infrastructure Company (MIC), which traded 2.3 times normal option volume.

Here is what is left for the rest of the week:

Key Economic Data:
23 Feb 2017- Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 11:00 AM ET, New Home Sales 10:00 AM ET

Key Earnings:
23 Feb 2017- BSFT, APA, CHK, CRZO, EME, IRM, KSS, PF, SAFM, SFM, STOR, VALE, VAC, DYN, GPS, HLF, IMAX, INTU, JWN, OLED, SWN, ZOES
24 Feb 2017- CLMT, DOC, FL, HSC, IAG, JCP, PEG, KBR, RLGY, STAR

Key Events:
20 Feb 2017- CAGNY Consumer Conference (runs till 2/24)
22 Feb 2017- Barclay’s Industrials Conference (runs till 2/23); RBC Healthcare Conference (runs till 2/23)

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February 19, 2017 The Week Ahead

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Last week we wrote: “The markets keep rolling higher… seems like nearly every other day an all-time high is being made.” Well, not much has changed, as the all three averages posted gains of over 1% on the week.

Interestingly, the attention continues to stay more or less focused on politics than what’s going on in the financial markets. The VIX did gain on the week, moving from 10.85 to 11.49, however; that’s still relatively low given the political climate we’re in.

Moving on to gold and oil.

Crude oil futures closed the week lower, finishing down 0.76%. In precious metals, gold futures prices finished the week higher, gaining about .10%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.96%, iShares 20+ Year Treasury Bond (TLT) -0.36%, SPDR Gold Shares (GLD) +0.07%.

Some key earnings include: Tesla Motors, Wal-Mart, Hewlett Packard, Herbalife, and Home Depot.

Here is a list of some events that traders will be following:

Key Economic Data:
21 Feb 2017- PMI Manufacturing Index 9:45 AM ET
22 Feb 2017- Existing Home Sales 10:00 AM ET, FOMC Minutes 2:00 PM ET
23 Feb 2017- Jobless Claims 8:30 AM ET, EIA Petroleum Status Report 11:00 AM ET, New Home Sales 10:00 AM ET

Key Earnings:
21 Feb 2017- AAP, AER, BHP, CBRL, EXAS, EXPD, GPC, HD, HSBC, LL, M, MDR, MDT, PWR, WLK, WMT, EIX, CXO, FSLR, IRWD, LZB, NEM, PZZA, XPO
22 Feb 2017- DISH, GRMN, HFC, HST, LAMR, LYG, MBLY, NI, PNK, SBGI, SIX, TEX, TJX, TOL, WWW, CAKE, CLR, CLVS, ETE, ETP, EVHC, FIT, HPQ, LB, O, SQ, SUN, TROX, TSLA, TSRA
23 Feb 2017- BSFT, APA, CHK, CRZO, EME, IRM, KSS, PF, SAFM, SFM, STOR, VALE, VAC, DYN, GPS, HLF, IMAX, INTU, JWN, OLED, SWN, ZOES
24 Feb 2017- CLMT, DOC, FL, HSC, IAG, JCP, PEG, KBR, RLGY, STAR

Key Events:
20 Feb 2017- CAGNY Consumer Conference (runs till 2/24)
22 Feb 2017- Barclay’s Industrials Conference (runs till 2/23); RBC Healthcare Conference (runs till 2/23)

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February 14, 2017 Market Wrap Up

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The markets closed at the highs today. Despite the best efforts by the media to portray that the country is politically in shambles. The money changers are bullish stocks and we’re seeing it in these averages… and we’re seeing it in the depleted VIX. At some point, stocks will be too rich to own, however; judging by the price action we’re not there yet.

Strong earnings performers included: Diebold Nixdorf (DBD), Retailmenot (SALE), and Molson Coors (TAP)

Weak earnings performers included: Generac Holdings (GNRC) and Fossil Group (FOSL)

The VIX closed lower today, and is now trading below the 11 mark, closing at 10.74.

ETF Performers: United States Oil Fund (USO) +0.53%, iShares 20+ Year Treasury Bond (TLT) -0.72%, SPDR Gold Shares (GLD) +0.11%.

On the options front, we saw large call buying activity in Nektar Therapeutics (NKTR), which traded 6.3 times normal option volume. In addition, we saw heavy put buying in IMAX Corporation (IMAX), which traded 22 times normal option volume.

Here is what is left for the rest of the week:

Key Economic Data:
15 Feb 2017- Consumer Price Index 8:30 AM ET, Retail Sales 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET
16 Feb 2017- Housing Starts 8:30 AM, Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET

Key Earnings:
15 Feb 2017- ANGI, GRPN, HLT, LAD, OZM, PEP, SHOP, SODA, SONS, WIX, WYN, AMAT, CAR, CBS, CC, CF, CSCO, CVA, GDDY, GRPN, HAWK, KHC, MAR, MRO, NLY, NTAP, NTES, PKD, SPWR, TIVO, TRIP, WMB, WPZ
16 Feb 2017- AVP, CAB, CHTR, ALXN, DF, DUK, EPAM, GNC, H, MGM, NCI, RS, TIME, TPX, WEN, ZTS, WM, ANET, BCOV, CUBE, DVA, ED, FLS, KEYS, TRUE, WWAV
17 Feb 2017- AAN, CPB, CTB, DE, FNMA, MCD, VFC, SJM, LPNT, FLR

Key Events:
14 Feb 2017- Goldman Sachs Technology & Internet Conference (runs till 2/16)
15 Feb 2017- Leerink Global Healthcare Conference (runs till 2/16)

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February 7, 2017 Market Wrap Up

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The markets closed the day mixed on below average trading volume. One interesting note coming out of Bespoke, was that the S&P 500 has gone 80 sessions without a single down day of 1% or lower. Again, that’s pretty amazing considering all the media attention we’ve had surrounding US politics.

Some strong earnings performers included: Cardinal Health (CAH) and National Oilwell (NOV)

Some weak earnings performers included: Disney (DIS), Michael Kors (KORS), and General Motors (GM).

The VIX closed lower today, and is still trading below the 12 mark, as it ended the day at 11.29.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -1.67%, iShares 20+ Year Treasury Bond (TLT) +0.74%, SPDR Gold Shares (GLD) -0.24%.

On the options front, we saw large call buying activity in Denbury Resources (DNR), which traded 8.7 times normal option volume. In addition, we saw heavy put buying in Infinera Corporation (INFN), which traded 3.4 times normal option volume.

Here is what is left for the rest of the week:


Key Economic Data:
8 Feb 2017- EIA Petroleum Status Report 10:30 AM ET
9 Feb 2017- Jobless Claims 8:30 AM

Key Earnings:
8 Feb 2017- AXTA, CTSH, EXC, GRA, GRUB, HUM, LPX, RIO, OC, SNY, TWX, VOYA, DNB, FISV, GLUU, IRBT, LVLT, MC, PAYC, SCSS, TRMB, TYL, WFM, ZEN
9 Feb 2017- BATS, BWA, BZH, CLF, COTY, CVS, DNKN, K, KKR, KO, LIVE, MAS, MHK, OXY, PTEN, RAI, TDC, TWTR, VIAB, VRTU, WWE, YUM, ATVI, CERN, CYBR, EXPE, INFN, JCOM, LPLA, MNK, NCR, MPWR, NVDA, NWSA, P, RICK, UBNT, VRSN, WU, YELP, ZAYO, ZNGA
10 Feb 2017- AXL, G, MT

Key Events:
6 Feb 2017- Credit Suisse Financial Services Forum (runs till 2/8)
8 Feb 2017- Cowen 38th Annual Aerospace, Defense & Industrials Conference (runs till 2/9)
9 Feb 2017- KBW Winter Financial Services Symposium (runs till 2/10)

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February 5, 2017 The Week Ahead

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Overall, the markets were relatively flat during the week. With that said, earnings thus far haven’t been really exciting. We got some positive results out of Apple and Facebook. However, Amazon disappointed some, but nothing bad where it caused a significant sell-off in other areas of the market.

In economic news, the FOMC meeting resulted in no changes to the key interest rate. However, they still have a plan for several rate hikes this year. One important change in their language was that they are now saying that inflation will rise vs. expected too.

Outside of that, a lot of the media attention is around the first 100 days of President Trump.

Despite all the protesting and the media trying their best to make the new regime appear toxic, the market thus far is not buying into any of it. With that said, the VIX closed at 10.97 on Friday.

Going into the week, traders will be mainly focused on earnings.

Moving on to energy.

Crude oil futures closed the week pretty strong, having 3 out of 5 winning days and ending up 1.21%. On the other hand, gold futures prices finished the week down more than 1.3%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.23%, iShares 20+ Year Treasury Bond (TLT) -0.31%, SPDR Gold Shares (GLD) +2.33%.

Some key earnings include: Disney, Time Warner, Twitter, CVS, and Coca-Cola to name a few.

Here are a list of events that traders will be watching:

Key Economic Data:
7 Feb 2017- International Trade 8:30 AM ET
8 Feb 2017- EIA Petroleum Status Report 10:30 AM ET
9 Feb 2017- Jobless Claims 8:30 AM

Key Earnings:
6 Feb 2017- BWP, HAS, L, NEWL, TSN, CBOE, SYY, DO, FOXA, HMN, LYB, MAC, TSO, YRCW
7 Feb 2017- ADM, BP, CAH, CDW, EMR, FIS, GM, ICE, KORS, MNK, NOV, SABR, TDG, TEN, VMC, AKAM, BWLD, DIS, GILD, GNW, JIVE, LITE, MCHP, MDLZ, NUAN, ORLY, PAA, PNRA, PAGP, PXD, TCS, TDW, TTWO, TWLO, ULTI, YUMC, ZG
8 Feb 2017- AXTA, CTSH, EXC, GRA, GRUB, HUM, LPX, RIO, OC, SNY, TWX, VOYA, DNB, FISV, GLUU, IRBT, LVLT, MC, PAYC, SCSS, TRMB, TYL, WFM, ZEN
9 Feb 2017- BATS, BWA, BZH, CLF, COTY, CVS, DNKN, K, KKR, KO, LIVE, MAS, MHK, OXY, PTEN, RAI, TDC, TWTR, VIAB, VRTU, WWE, YUM, ATVI, CERN, CYBR, EXPE, INFN, JCOM, LPLA, MNK, NCR, MPWR, NVDA, NWSA, P, RICK, UBNT, VRSN, WU, YELP, ZAYO, ZNGA
10 Feb 2017- AXL, G, MT

Key Events:
6 Feb 2017- Credit Suisse Financial Services Forum (runs till 2/8)
8 Feb 2017- Cowen 38th Annual Aerospace, Defense & Industrials Conference (runs till 2/9)
9 Feb 2017- KBW Winter Financial Services Symposium (runs till 2/10)

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June 28, 2016 Market Wrap Up

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The S&P 500 caught its first bounce after the Brexit announcement, as it closed up more than 35 points, a gain of nearly 1.8%. Not only that, but the VIX came under attack as it dropped more than 20% and closing below 19.

Stocks in play today include: comScore, Inc (SCOR) $23.83 (-18.96%), Dow Chemical Company (DOW) $48.50 (-2.04%), PayPal Holdings (PYPL) $35.24 (+3%), and Splunk, Inc. (SPLK) $53.34 (+4.65%).

Despite the anemic volume, the VIX actually grinded up, closing at 14.64.

Crude oil futures closed about %3 higher at $47.85.

On the options front, we saw large call buying activity in Travelport Worldwide Limited (TVPT), which traded 8.1 times normal volume. We also saw a ton of bearish bets being placed in Clovis Oncology Inc (CLVS), which traded 2.2 times usual volume.

Here’s what’s left for the rest of the week:

Key Economic Data:
29 June 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
30 June 2016- Jobless Claims 8:30 AM ET
01 July 2016- ISM Mfg Index 10:00 AM ET

Key Earnings:
29 June 2016- GIS, MON, PIR
30 June 2016- CAG, DRI, LNN, STZ, MU, MKC

Key Events:
JPMorgan Media & Telecoms CEO Conference (runs till 6/29)

June 27, 2016 The Week Ahead

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The S&P 500 was under attack on Friday after a surprise vote out of Britain as they chose to leave the EU. Going into Friday, the option market was implying a 1.6%, however; The S&P 500 sold off more than 3.59%, which demonstrates how much traders underestimated the risk. Overall, the S&P 500 finished the week down 1.57%.

It appears that there are fears that other EU countries might follow in the footsteps as the Brits. With that said, traders were flocking towards safe havens like Gold and Treasury Bonds. Gold futures rose to their highest levels in 2 years, as they surged more than $55 and closed above 1315. In addition, The iShares Barclays 20+ Yr Treasury Bond (ETF) gained more than 3.5 pts as it closed at 135.78, a move of 2.68%.

The VIX on Friday closed at 25.76, a massive jump of more than 8 points, a gain of nearly 50%.

The United States Oil Fund (USO) was also a victim of the Brexit vote, as it sold off nearly 5% on Friday, closing at 11.40.

Here is what is on tap for this upcoming week:

Key Economic Data:
27 June 2016- International Trade in Goods 8:30 AM ET
28 June 2016- GDP 8:30 AM ET
29 June 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
30 June 2016- Jobless Claims 8:30 AM ET
01 July 2016- ISM Mfg Index 10:00 AM ET

Key Earnings:
28 June 2016- NKE, CAMP, CCL, FDS
29 June 2016- GIS, MON, PIR
30 June 2016- CAG, DRI, LNN, STZ, MU, MKC

Key Events:
27 June 2016- JPMorgan Inaugural Energy Conference (runs till 6/28)
28 June 2016- JPMorgan Media & Telecoms CEO Conference (runs till 6/29)