The markets saw a strong reversal day today as a lower open was erased by mid-day. The Dow 30 was able to end its 5 day losing streak by gaining 94 (0.53%). The S&P 500 added 6 (0.32%), and the Nasdaq 100 gained 9 (0.21%). Going into Friday traders will be looking at housing data for signs of economic growth. Its also options expiration day.

Jabil Circuit (JBL  ) had a volatile day of trade but finished well in  the green (1.90%). The activity today was caused by above-consensus quarterly results against a downward revision to fourth-quarter earnings guidance. This conflicting information caused a large trading range, with volume that was well above average.

 American Airlines (AAL  ) fell 4.43% after being downgraded to "Underperform" at Bank of America/Merrill Lynch. The downgrade sent American Airlines to new 2016 lows on above average volume. Shares of the airline company are now down over 10% for the week. Looking closer at the airline sector, the U.S. Global Jets ETF (JETS  ) has lost 7.2% this week, compared to a decline of 3.3% in the broad Transportation Index. 

Well, you cant talk about airlines without mentioning crude oil. Today, oil prices slid to a four-week low ($46.19 per barell). In the sector, oilfield service names and independent oil and gas companies offered the largest losses. Halliburton (HAL  ) and EOG Resources (EOG  ) fell by 1.80% and 2.74%, respectively. While the energy sector as a whole shows a loss of 2.1% this week, crude outpaced it with a loss of 5.1%.

Cavium Networks (CAVM  ) plummeted 17.50% today after announcing that it would acquire QLogic (QLGC  ) for $15.50 per share in cash and stock. In response to the M&A news, Cavium Networks was downgraded by several analyst firms. Shares convincingly made new 2016 lows today on that news.