The Fuse
What are futures doing?
Seeing a mixed start to the day but the SPX 500 and Nasdaq are showing positive signs so far. Technology names were routed on Friday and are trying to regain some composure. A big earnings week is upon us.
News
After Friday’s slamdown we saw stocks in Europe follow their lead, the STOXX down .95% led lower by deep losses in Germany and France. The US dollar is flat, gold modestly higher, silver up just under 1% while crude oil trades a bit lower. FTSE was down 1%. In Asia, Japan was down but Shanghai and Hong Kong showed some gains. Bund yields traded lower, to 3.4% while 10 yr US treasury ticked down to 5.08%.
Volatility
Seeing quite a bit of downside in VIX here this morning, perhaps that move past 20% was enough to scare traders into submission. However, a still elevated VIX and VXN (Nasdaq) requires caution.
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