The Fuse
What are futures doing?
Futures are mostly lower this morning but the Industrials holding a slight positive. Earnings out from some of these names were good but investors are using the opportunity to take some risk down. Tech stocks are back lower this morning and are dragging the other indices down.
News
Pretty poor action in Europe, the STOXX off .6% led by losses in Germany and France. FTSE was down as well, the dollar is modestly lower, gold is catching a bid, crude oil above $100 again and silver is barely changed. In Asia, Japan got drilled last night as did Hong Kong, Shanghai down modestly. German bund yields traded slightly lower, 10 year US treasuries mostly flat.
Volatility
Last day of trading for the October VX future which looks to go out tomorrow above 18%. We are starting to move into a higher volatility environment and that may worry some investors/traders a bit. But, more volatility means more opportunity to come, regardless of what time of year it is.
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