January 26, 2017 Market Wrap Up

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The markets closed the day relatively mixed. The S&P 500, Dow, and Russell 2000 closed negative. While the Dow Jones Industrials and the Nasdaq closed the day up. We finally saw Dow 20k the other day.

Some strong earnings performers included: Wynn Resorts (WYNN), Southwest Airlines (LUV), and L3 Technologies (LLL)

Some weak earnings performers included: Alphabet (GOOG), Starbucks (SBUX), and Juniper Networks (JNPR)

The VIX continues to move lower, it closed at 10.63, down nearly 2% on the day.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.95%, iShares 20+ Year Treasury Bond (TLT) +0.34%, SPDR Gold Shares (GLD) -0.93%.

On the options front, we saw large call buying activity in YUM China Holdings (YUMC), which traded 26.3 times normal option volume. In addition, we saw heavy put buying in NutriSystem Inc. (NTRI), which traded 17.6 times normal option volume.

Here is what is left for tomorrow:

Key Earnings Release Dates:
27 Jan 2017- ABBV, APD, BEN, CL, CVX, HON, UBS

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December 8, 2016 Market Wrap Up

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The S&P 500 continued to move higher today, as the Santa Claus rally continues to be on schedule. The darling of the market continues to be the Russell 2000, it gained more than 1.5% today. The Russell 2000 Index ETF (IWM) is nearly up 15% on the month.

Despite the market moving higher, we saw some hedgers come in, the VIX was up more than 3.4% and closed at 12.64.

Stocks in play today included: Wynn Resorts (WYNN) -10.8%, Las Vegas Sands (LVS) -12.72%, Majesco Entertainment (COOL) +65%, Express Scripts Holdings (ESRX) -6.8%

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.89%, iShares 20+ Year Treasury Bond (TLT) -1.25%, SPDR Gold Shares (GLD) -0.19%.

On the options front, we saw large call buying activity in Tractor Supply Company (TSCO), which traded 5.9 times normal option volume. In addition, we saw heavy put buying in Northern Trust Corporation (NTRS), which saw 6.6 times normal options volume.

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

Key Earnings:
9 Dec 2016- MTN

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September 1, 2016 Market Wrap Up

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The S&P 500 closed relatively unchanged on above average volume. All eyes will be on the employment situation numbers tomorrow. The consensus for nonfarm payrolls is 175,000 and unemployment rate of 4.8%. With that said, based on the straddle price for the SPY, the market is implying a .7% move (or $1.48).

Stocks in play today included: Genesco (GCO) -32.8%, Wynn Resorts (WYNN) +4.3%, Tesla Motors (TSLA) -5.3%, and Las Vegas Sands (LVS) +7.2%.

The VIX closed the day slightly higher at 13.48.

Crude oil futures prices have been on a four-day slide. Over that stretch, they’ve been down nearly 9%. Of course, all eyes and ears will be on the OPEC when they meet at an energy conference later in the month.

On the options front, we saw large call buying activity in Teradata Corporation (TDC), which traded 2.9 times normal option volume. In addition, we saw heavy put buying in Starz (STRZA), which was 55.1 times normal options volume.

Here’s what’s on tap for tomorrow:

Key Economic Data:
2 Sep 2016- Employment Situation 8:30 AM ET, International Trade 8:30 AM ET

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December 8, 2015 Market Wrap Up

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The S&P 500 closed lower, now making it four out of five down days. Oil has been dominating headlines as it has hit multi-year lows. In addition, many oil-related stocks were in play today, specifically, MLPs.

Kinder Morgan (KMI) -11%, NGL Energy Partners (NGL) -9%, Alerian MLP ETF (AMLP) +1.7%.

In the after hours, we got news out of Wynn Resorts (WYNN), CEO, Steve Wynn announced that he bought 1 million shares in the open market. The stock is up more than 5%. Also, Yahoo (YHOO) announced that it will not plan to move ahead on the Alibaba (BABA) spinoff. The stock price is up more than 2.5% in extended hours trading.

The VIX took off, closing the day 11% higher at 17.60.

On the options front, we saw large call buying activity in Time Inc (TIME). We also saw massive put buyers in Banco Santander (SAN).

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

Key Economic Data:
10 December 2015- Jobless Claims 8:30 AM ET
11 December 2015- Jobless Claims 8:30 AM ET
12 December 2015- PPI 8:30 AM ET, Retail Sales 8:30 AM ET

Key Earnings:
09 December 2015- FRAN, MW, VRA
10 December 2015- CIEN, ADBE, FNSR, NCS

Key Events:
07 December 2015- Raymond James Tech & Communications Conference (runs til 12/09), UBS Global Media & Communications Conference (runs til 12/09), Wells Fargo Energy Symposium (runs til 12/09)
08 December 2015- Barclays Global Technology Conference (runs til 12/09), Goldman Sachs Financial Services Conference (runs till 12/09), Oppenheimer Healthcare Conference (runs til 12/09)

October 15, 2015 Market Wrap Up

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October 15, 2015 Market Wrap Up

The S&P 500 exploded today, closing the day 1.5% higher. The SPDR S&P (SPY) is now 11.5% above our 52-week lows.

It almost seems like we’ve fallen back to the ol’ bad news is good… and good news is good. A win-win for the market. We’ve shaken off bad earnings from GS, NFLX, and HCA. Not to mention, lowered expectations out of Wal-Mart (WMT).

With that said, the VIX got smoked. It was down more than 10% and is now at 16.05.

The energy sector was relatively flat; however, the United States Oil Fund (USO) is more than 20% off its 52-week lows.

On the options front, we saw bullish call buying in Zoetis (ZTS) and bearish put buying in Seagate Technology (STX).

This evening we got earnings from Wynn Resorts Limited (WYNN) -7.5%

Here’s what’s on tap tomorrow:

Key Economic Data:
16 October 2015- Industrial Production 9:15 AM ET

Key Earnings:
16 October 2015- GE, HON, KSU