S&P 500 VIX Futures Market News and Commentary
The S&P 500 ($SPX) this morning is down -1.07 (-0.04%), the Dow Jones Industrials index ($DOWI) is up +24.55 (+0.09%), and the Nasdaq 100 Index ($IUXX) is down -9.72 (-0.12%). Key U.S. stock indexes today are mixed with the Dow Jones Industrials Index at a new record high. Stocks found early support today on stronger-than-expected U.S. economic data. June retail sales rose +0.4% and +0.4% ex-autos, stronger than expectations of +0.2% and +0.1% ex-autos, and June manufacturing production rose +0.4%, stronger than expectations of +0.3%. Also, the July NAHB housing market index unexpectedly rose +1 to 65, stronger than expectations of unchanged at 64. However, weakness in technology stocks took U.S. stock indexes off their best levels today. Also, earnings results today were mixed as Johnson & Johnson fell -1% after it said currency fluctuations reduced profits from its overseas pharmaceutical operations, while Goldman Sachs rose more than +1.5% today after it reported Q2 EPS of $5.81, well above consensus of $4.93. The VIX volatility index ($VIX) today is down -0.40 at a 1 -week low of 12.28%. The VIX remains modestly above the 2-3/4 month low of 12.04% from July 5 and moderately above the 11-month low from mid-April of 11.03%.