S&P 500 VIX Futures Market News and Commentary
The S&P 500 Index ($SPX) on Friday closed down -0.54%, the Dow Jones Industrials Index ($DOWI) closed down -0.42%, and the Nasdaq 100 Index ($IUXX) closed down -0.59%. U.S. stock indexes on Friday posted moderate losses after a -7% plunge in Amazon.com fueled concerns about slowing growth at the mega-cap technology companies. Stock indexes recovered from their worst levels Friday on better-than-expected U.S. economic data.
Sep T-notes (ZNU21) on Friday closed up +7.5 ticks, and the 10-year T-note yield fell -3.5 bp to 1.234%. Friday’s slump in stocks boosted the safe-haven demand for T-notes. Also, inflation concerns receded Friday and gave T-notes a boost after the U.S. Q2 employment cost index and the U.S. Jun core PCE deflator rose less than expected.
Friday’s U.S. economic data was better than expected and bullish for stocks. U.S. Jun personal spending rose +1.0% m/m, stronger than expectations of +0.7% m/m. Also, Jun personal income unexpectedly rose +0.1% m/... Read more