November 15, 2015 The Week Ahead

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The SPDR S&P 500 (SPY) has been on a 3-day sell off, closing the week 3.5% lower. It’s hard to point to exactly what caused the sell of, but per usual, there are a number of theories ranging from profit taking to weak retail sales numbers. What looked like a sure December rate hike, now appears less uncertain.

As mentioned retailers took a hit. Nordstrom (JWN) -19%, Macy’s (M) -17%, Target (TGT) -8%, Abercrombie & Fitch (ANF) -12% … just to name a few. Could this be the catalyst to put a rate hike on hold? We shall see. One thing though, we’ll be getting the FOMC Minutes transcript on 11/18, which should shed some light on the matter.

The VIX shot off like a rocket, and is now trading above 20.

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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

October 4, 2015 The Week Ahead

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October 4, 2015 The Week Ahead

The S&P 500 ended the week higher, making it four straight days after seeing a full week of selling, last week.

With that said, the VIX closed above 20, where it’s been for over a month.

One could argue we’ve simply bounced from extreme oversold conditions. Of course, with China on holiday, that helped take some pressure off the markets.

Crude Oil futures were relatively unchanged this week, as prices are trading slightly above $45 per barrel. Interestingly, we also saw a pop in precious metals futures on Friday. Gold futures traded more than 2% higher.

Earnings season kicks off on Thursday, here’s what else is on tap:

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

Key Earnings:
5 October 2015- TCS
6 October 2015- PEP, YUM
7 October 2015- MON, STZ
8 October 2015- DPZ, AA

Key Events:
5 October 2015 (runs till the 6th)- 18th Annual Cowen Therapeutics Conference
6 October 2015 (runs till the 9th)- Amazon Services Invent Conference

September 29, 2015 Market Wrap Up

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September 29, 2015 Market Wrap Up

The S&P 500 finished the day slightly higher, however; we gave up most of our gains and even went negative for a decent portion of the day. In fact, we hit lows that we have not seen since August 24.

The biotech sector is still reeling off the comments made by politicians, regarding the cost of drug prices and more regulation. The iShares Nasdaq Biotechnology Index Fund (IBB) is down over 10% in the last week.

The VIX was actually down, closing at 26.83. For now, it appears that 20 might be a new base level.

The energy sector was up today; the United States Oil Fund (USO) was up less than 1%.

On the options front, we saw bullish call buying in Burlington Stores Inc (BURL). Options that saw bearish put buying were in Lululemon Athletica Inc (LULU).

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

Key Economic Data:
1 October 2015- Jobless Claims 8:30 AM ET, ISM Manufacturing Index 10 AM ET
2 October 2015- Employment Situation 8:30 AM ET

Key Earnings:
29 September 2015- COST
1 October 2015- MU

Key Events:
29 September 2015 (runs till 10/1)- American Gaming Association Global Gaming Expo
29 September 2015 (runs till 9/30)- Wolfe Research Power & Gas Leaders Conference

September 27, 2015 The Week Ahead

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September 27, 2015 The Week Ahead

The S&P 500 ended the week lower, however; the trading range was fairly narrow.

With that said, the VIX closed above 23, as 20 appears to be the new base.

A lot of attention has been placed on the biotech/pharma sector after presidential candidate Hillary Clinton, made some comments regarding prescription costs. The market took these comments as being a negative in the sector, and thus, have put prices under pressure.

Crude Oil futures were relatively unchanged this week, as prices are trading slightly above $45 per barrel.

Now, here’s what’s on tap, starting on Monday:

Key Economic Data:
28 September 2015- Personal Income & Outlays 8:30 AM ET
1 October 2015- Jobless Claims 8:30 AM ET, ISM Manufacturing Index 10 AM ET
2 October 2015- Employment Situation 8:30 AM ET

Key Earnings:
29 September 2015- COST
1 October 2015- MU

Key Events:
28 September 2015 (runs till 9/30)- Deutsche Bank Leveraged Finance Conference
28 September 2015 (runs till 9/30)- Johnson Rice Energy Conference
29 September 2015 (runs till 10/1)- American Gaming Association Global Gaming Expo
29 September 2015 (runs till 9/30)- Wolfe Research Power & Gas Leaders Conference

September 8, 2015 The Week Ahead

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September 8, 2015 The Week Ahead

The S&P 500 ended down more than 3%. Poor economic numbers out of the U.S. and China attributed to the weakness. With that said, China has two cracks at the markets before we open, Monday night futures.

Just three weeks ago, the VIX was below 13, but it’s now been three straight Friday’s where it has closed above 25.

Crude Oil futures were relatively flat last week. But, we’re only $7 from the yearly lows.

Now, there isn’t a whole lot on the economic calendar, however; there are a decent amount of industry events that could move individual stocks.

Here’s what else is on the schedule:

Key Economic Data:
10 September 2015- Jobless Claims 8:30 AM ET
11 September 2015- PPI 8:30 AM ET

Key Earnings:
8 September 2015- FCEL, PSUN, PLAY, TIVO
9 September 2015- BKS, CNSI, CONN, FRAN, HOV, KKD, PANW
10 September 2015- LULU, FNSR, RH, ZMZ
11 September 2015- KR, MFRM

Key Events:
8 September 2015 (runs til 9/9)- Barclay’s Back-to-School Consumer Conference
8 September 2015 (runs til 9/9)- Deutsche Bank Aircraft Finance & Leasing Conference
8 September 2015 (runs til 9/10)- Barclay’s CEO Energy Power Conference
8 September 2015 (runs til 9/10)- Barclay’s Global Consumer Staples Conference
8 September 2015 (runs til 9/10)- Citigroup Global Tech Conference
8 September 2015 (runs til 9/10)- JPMorgan Small/Mid Cap Conference
8 September 2015 (runs til 9/10)- Morgan Stanley Healthcare Conference
9 September 2015- Apple Hardware product event.
9 September 2015 (runs til 9/10)- Bank of America 2015 Gaming and Lodging Conference
9 September 2015 (runs til 9/10)- Bank of America 2015 Media Communications & Equipment Conference
9 September 2015 (runs til 9/10)- Cowen Global Transport Conference
9 September 2015 (runs til 9/10)- Goldman Sachs Global Retail Conference
9 September 2015 (runs til 9/10)- Wells Fargo Healthcare Conference
9 September 2015 (runs til 9/11)- Morgan Stanley Industrial CEO Unplugged Conference
10 September 2015 (runs til 9/11)- Bank of America Annual Canada Mining Conference