S&P 500 VIX Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed down -0.72%, the Dow Jones Industrials Index ($DOWI) closed down -0.57%, and the Nasdaq 100 Index ($IUXX) closed down -0.73%.
U.S stock indexes on Friday posted 1-week lows and settled moderately lower. Stocks were under pressure Friday on doubts about how much of President-elect Biden's $1.9 trillion pandemic relief package will be passed by Congress. Stocks extended their losses Friday on weaker-than-expected U.S. economic data along with a slump in bank stocks.
Stocks on Friday fell on the recognition that the Biden administration's $1.9 trillion pandemic relief package is likely to be watered down by Congressional opposition and that the final version of the stimulus may be well below Biden's $1.9 trillion plan. Also, the possibility of higher taxes is undercutting stock prices.
Weakness in bank stocks Friday also weighing on the overall market, led by sharp losses in Wells Fargo and Citigroup.... Read more