May 17, 2017 Market Wrap Up

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The stock market saw its first taste of volatility on the year, all major indices dropped on above average trading volume: Dow Jones Industrials -1.78%, S&P 500 -1.82%, Nasdaq -2.57%, and the Russell 2000 -2.78%

The VIX exploded, gaining 4.83 points and closing at 15.48, an increase of 45% from yesterday’s close.

Now, here is how some of the other closely followed ETFs did: United States Oil Fund (USO) +0.79%, iShares 20+ Year Treasury Bond (TLT) +1.46%. SPDR Gold Shares (GLD) +1.82%.

On the options front, we saw large call buying activity in Colgate Palmolive (CL), which traded 7.4 times normal option volume. In addition, we saw heavy put buying in Michaels Companies (MIK), which traded 19.7 times normal option volume.

Here is what is left on the schedule:

Key Economic Data:
18 May 2017- Jobless Claims 8:30 AM ET; Philly Fed Survey 8:30 AM ET

Key Earnings:
17 May 2017- AEO, QIWI, TGT, CSCO, FLO, LB, SNPS
18 May 2017- BONT, EXP, MNRO, RL, SSI, WMT, AMAT, CRM, GPS, MCK, ROST
19 May 2017- CBD, DE, FL

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November 29, 2016 Market Wrap Up

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The S&P 500 closed the day positive on relatively low trading volume. Overall, it was a really slow day in terms of news. In the background, traders were paying attention to what was being said at the Robin Hood Conference. In addition, they were also reacting to headlines from OPEC affiliates, as OPEC is set to meet tomorrow.

With little going on, the VIX sold off mildly, closing the day below 13, at 12.90.

Crude oil futures gave up all of yesterday’s gains, and then some. Per usual, mixed signals out of OPEC had traders feeling like it might be difficult for the cartel to come to an agreement. Of course, these OPEC meetings are pure wild cards. We’ll just have to wait and see what happens tomorrow.

On the options front, we saw large call buying activity in Zayo Group Holdings (ZAYO), which traded 3.3 times normal option volume. In addition, we saw heavy put buying in Michaels Companies (MIK), which saw 30.3 times normal options volume.

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

Key Economic Data:
30 Nov 2016- Personal Income and Outlays 8:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
1 Dec 2016- Jobless Claims 8:30 AM ET, ISM Mfg Index 10:00 AM ET
2 Dec 2016- Employment Situation 8:30 AM ET

Key Earnings:
30 Nov 2016- AEO, TITN, BOX, BV, GES, LZB, NQ, PVH, SMTC
1 Dec 2016- CIBC, DG, EXPR, KR, AMBA, ASNA, GII FIVE, SWHC, ULTA, WDAY, ZUMZ
2 Dec 2016- BIG, FRED

Key Conferences:
28 Nov 2016- Bank of America Merrill Lynch Leveraged Finance Corporation Conference (runs till 11/30); Credit Suisse Tech, Media and Telecom Conference (runs till 12/2)
29 Nov 2016- Citigroup Basic Materials Conference (runs till 12/1); Jefferies Energy Conference (runs till 11/30); Piper Healthcare conference (runs till 11/30); FBR Investor Conference; FBR Investor Conference
30 Nov 2016- Credit Suisse 4th Annual Industrials Conference (runs till 12/1); JPMorgan Financial Tech & Speciality Forum
2 Dec 2016- Bank America Auto Dealer Day Conference

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