The Fuse
What are futures doing?
After the sharp reversal on Monday stocks are mixed this morning, Nasdaq up slightly but the Industrials are getting pasted. That index was up strong for part of the day Monday but finished with modest gains. It’ll be a volatile session after weakness in Apple and Palantir following their earnings release.
News
Weakness in Europe as the STOXX fell .6% led lower by France, Germany and Spain. FTSE was lower as well. Gold is getting hammered again as is silver, crude oil is back up while the dollar held steady. In Asia, weakness in Japan and Shanghai but Hong Kong showed some gains. Bund yields in Germany fell to a 2 month low, US 10 yr treasuries bumped up to 4.91%.
Volatility
Market volatility remains elevated, and we could see more rising here as the market uncertainty starts to permeate. With today’s midterms who knows what direction the country will go but we will still wake up in the morning with something we need to do. Hence, if the VIX falls after the election there could be a good bid in the markets, we’ll see how it goes.
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