The Fuse
What are futures doing?
Equity futures are lower this morning but not nearly as bad as when the markets opened up last evening. Futures are down about .75% but selling volume is low, meaning the bulls have a chance here. Sellers hit the market after news of an impasse in negotiations with Iran.
News
Stocks in Europe were down moderately following the lead from US futures which started down sharply. The STOXX index was off .7% led lower by larger losses in France and Germany. FTSE was down .5%, the dollar index fell .2% while gold and silver are modestly higher. Crude oil is surging, up 8% on heavy volume. Yields were flat to down across the curve, 10 yr yields down 1bp, Japan declined .7%, Hong Kong down 1% but Shanghai was a small winner.
Volatility
The VIX was hammered down hard last week but is ticking higher this morning, but still well below recent highs. Is it the all clear and the dip to buy for investors/traders? This just might be, but always safeguard with some put protection just in case.
If you are an existing Market Blast or Trader’s Pass member, log in here:
