July 2, 2018 The Week Ahead

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U.S. stocks closed Friday on a positive note. However, declined during the week. The focus still remains on trade moving forward. An ex-factor could be oil, as oil prices have surged over the last two weeks, WTI crude is at its highest level since November 2014.

Stocks in play included: ESV +14.3%; MSG +11.3; NKE +8.51; WWE +8.46%

Here are how some of the most widely traded index ETFs performed over the week:
Powershares QQQ ETF (QQQ) -2.09%, SPDR S&P 500 ETF (SPY) -1.26%, SPDR Dow Jones Industrial Average ETF (DIA) -1.20%, iShares Russell 2000 ETF (IWM) -2.41%

The VIX climbed higher, finishing it at 16.09 on Friday.

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Here are how some futures and commodity ETFs performed over the week: United States Oil Fund (USO) +7.40%, iShares 20+ Year Treasury Bond (TLT) +0.99%, SPDR Gold Shares (GLD) -1.40%

Expect low volumes for the first week of July. There isn’t much on the earnings table and there is a half day on the 3rd, with the markets being closed on the 4th.

Economic Releases:
2 July 2018- ISM Mfg Index 10:00 AM ET

5 July 2018- Jobless Claims 8:30 AM ET; EIA Petroleum Status Report 11:00 AM ET; FOMC Minutes 2:00 PM

6 July 2018- Employment Situation 8:30 AM ET; International Trade 8:30 AM ET

Key Earnings:
2 July 2018- SWK

3 July 2018- AYI

5 July 2018- PSMT

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June 1, 2016 Market Wrap Up

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The S&P 500 started the new month on a positive note, however; volume was well below the average. With that said, it’s not the greatest sign, when we’re moving towards all-time highs without any follow through in volume.

Stocks in play today: Nike (NKE) -.5%, Energy Transfer Equity (ETE) +8%, Ocean Power Technologies (OPTT) +285%, Hollyfrontier (HFC) +5%

Given the weak volume and lack of downward follow through pressure…the VIX didn’t do too much, closing at 14.20.

The United States Oil Fund (USO) was down less than .25% today. Crude oil futures have been wrestling trying to break $50 per barrel. Now, they’ve been able to get their intraday, but have yet to hold on to it. Tomorrow marks an OPEC meeting as well as the EIA petroleum report.

On the options front, we saw large call buying activity in Westlake Chemical Corp (WLK), which traded 16.9 times normal volume. We also saw a ton of bearish bets being placed in Nike (NKE), which traded 3.9 times usual volume.

Here’s what’s left for tomorrow and Friday:

Key Economic Data:
2 June 2016- Jobless Claims 8:30 AM ET, EIA Petroleum Status 11:00 AM ET
3 June 2016- Employment Situation 8:30 AM ET, International Trade 8:30 AM ET

Key Earnings:
2 June 2016- CIEN, CONN, JOY, AMBA, AVGO, CMTL, FIVE, IDT, ZUMZ

Key Events:
KeyBanc Industrials & Auto Conference (runs till 6/2)
Bernstein 32nd Annual Strategic Decisions Conference (runs till 6/3)
Bank America Global Technology Conference (runs till 6/2)
Cowen 44th Annual Technology, Media & Telecom Conference (runs till 6/2)
DA Davidson 8th Annual Technology Forum; RBC Consumer & Retail Conference (runs till 6/2)

December 23, 2015 Market Wrap Up

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If there was any doubt about having a Santa Claus Rally, it was erased today. The S&P 500 is up nearly 3% over the last three trading sessions. With that said, we are no longer negative on the year.

Tomorrow the markets will be open till 1pm ET. It should be a slow day, but you never know what headline might come out and cause an individual stock or ETF to really start moving. But don’t hold your breath.

The VIX continues to see a big sell off, it’s now trading below 16.

Oil names caught a bounce, the United States Oil Fund (USO) was up nearly 5% today.

Stocks in play today included: Nike (NKE) -2.5% and Freeport-McMoran (FCX) +16%.

On the options front, we saw large call buying activity in China Finance Online Co. (JRJC). We also saw aggressive put buying in Irobot (IRBT).

Here’s what is going on for the rest of the week:

Key Economic Data:
24 December 2015- Jobless Claims 8:30 AM ET

December 22, 2015 Market Wrap Up

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The S&P 500 closed higher, making it two straight days now. With that said, it appears that the Santa Claus rally is back on. We’ve nearly regained all of Friday’s losses. However, don’t be surprised to see a slowdown in volumes as we approach the Christmas Holiday.

Not to mention, the VIX has seen a big sell off over the last two trading days, it’s now below 17.

Oil names caught a bounce, the United States Oil Fund (USO) was up about 1% today. However, we are still near the 52-week lows.

In after hours action, Nike (NKE) released earnings and the time of this post, the stock price is trading about 2% higher from the close. Micron also released, and the time of this post the stock price was trading 6% lower from the close.

On the options front, we saw large call buying activity in Graphic Packaging Company (GPK). We also saw massive put buyers in Encana Corporation (ECA).

Here’s what is going on for the rest of the week:

Key Economic Data:
23 December 2015- Durable Goods Orders 8:30 AM ET, Personal Income and Outlays 8:30 AM ET, New Home Sales 10:00 AM ET
24 December 2015- Jobless Claims 8:30 AM ET

November 19, 2015 Market Wrap Up

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The S&P 500 closed the day relatively flat, after a monster rally yesterday, where the market reacted positively to the FOMC minutes.

Interestingly, the VIX actually is trading around 17 and we are less than 2% off the highs in the SPDR S&P 500 ETF.

Stocks in play today, included Valeant Pharmaceuticals (VRX) +15%, Sunedison (SUNE) -11%, and Kalobios Pharmaceuticals (KBIO) +367%. Also, in the after hours, Nike (NKE) announced a new $12 billion share repurchase program and a raise in dividends. The stock is up more than 3% in the after hours.

The energy sector remains weak; the United States Oil Fund (USO) was flattish today. It’s now just 5% off the 52-week lows.

On the options front, we saw large call buying activity in Allergran (AGN). In addition, we saw bearish bets being placed in Medtronic (MDT).

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

20 November 2015- ANF, FL

September 24, 2015 Market Wrap Up

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September 24, 2015 Market Wrap Up

The S&P 500 finished the day lower, down over 0.5%, however; we got a big bounce off the lows, a range of about 30 points. The market got very weak after Caterpillar Inc (CAT) dropped their sales outlook and referenced that it could cut over 10,000 jobs. Of course, this is one of those companies that market participants use as a gauge of economic strength. Naturally, disappointing statements would be reflected in the overall market.

The VIX was up over 6%, closing at 23.457. 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 about 1%. In addition, gold was very strong, the SPDR Gold Shares (GLD) was up over 2%.

On the options front, we saw bullish call buying in Cirrus Logic Inc (CRUS). Options that saw bearish put buying were in Williams Companies Inc (WMB).

Nike (NKE) reported earnings after the close, at the time of this writing, the stock is up 7%. Also, Fed Chairman, Janet Yellen is giving a speech on inflation.

Here’s what’s on tap for tomorrow:

Key Economic Data:
25 September 2015- GDP 8:30 AM ET

Key Earnings:
25 September 2015- FINL