The Fuse
What are futures doing?
Equity futures are getting pounded this morning, the Nasdaq off nearly .8% but the SPX 500 down nearly 1% on heavy volume. It is frustrating fort the bulls to be going on this treadmill each day and week but it is what we have here.
News
Giving back those nice gains in Europe as the STOXX fell .87% led down by losses in Germany and France. The FTSE also lower, US dollar dropped again and pushed down to a 3 week low. Gold is off more than 1%, silver down but crude oil is rallying, up nearly 2.8% as WTIC is nearly $100. Japan got smashed last night, down 2.55% while Hong Kong lost nearly the same, Shanghai off .8%. Yields in Germany were up about 2bps to 3.41%, seeing some easing on the 10 yr with that yield down to 5.06%.
Volatility
VIX is getting a lift this morning, rising above 18% as it did late last week. Are we heading into a rising period of volatility? It just might be, and that would be a concern for the bulls as markets tend to fall when that trend is established.
If you are an existing Market Blast or Trader’s Pass member, log in here:
