November 8, 2016 Market Wrap Up

November 8, 2016 tvcuser Education, Trading Crude Oil, CVS, HTZ, K, S&P 500, VIX, VRX, WPX

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 3, 2016 Market Wrap Up

November 3, 2016 tvcuser Education, Trading Crude Oil, DYN, Earnings, Economic Data, IBB, LCI, S&P 500, THC, VIX, WPX

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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