US Markets Decline as VIX Surges 12.37%
A 5-minute read of yesterday's US session and today's catalysts — what to watch before pre-market opens at 21:30 HKT.
TL;DR
The US market experienced a decline in the previous session, with the S&P 500 dropping -1.21% to 7,420.10 and the Nasdaq 100 falling -0.99% to 29,670.95. The VIX surged 12.37% to 18.44, indicating increased market volatility.
Tech stocks were among the biggest losers, with MSFT and AMZN declining -3.79% and -3.46% respectively. In contrast, AVGO rose 4.30% to 392.90.
US Session Recap
| Index/Asset | Close | Change | Note |
|---|---|---|---|
| S&P 500 | 7,420.10 | -1.21% | |
| Dow Jones | 51,492.55 | -0.98% | |
| Nasdaq 100 | 29,670.95 | -0.99% | |
| Russell 2000 | 2,917.98 | -0.72% | |
| VIX | 18.44 | 12.37% | |
| 10Y Yield | 4.46 | -0.53% | |
| WTI Crude | 75.15 | -1.18% |
Top large-cap movers
AVGO rose 4.30% to 392.90, while MSFT and AMZN declined -3.79% and -3.46% respectively.
Spotlight
| Company | EPS | Revenue |
|---|---|---|
| NVDA | 1.23 | 5.64B |
NVDA reported strong earnings, with EPS of 1.23 and revenue of 5.64B. The company's stock fell -1.33% to 204.65 despite the positive earnings report.
Macro & Fed
- Current policy rate: 4.50%
- 10Y Yield: 4.46
- Today's data releases:
- 08:30 HKT: Initial Jobless Claims
- 10:00 HKT: Existing Home Sales
Geopolitics & Global
- Tensions between the US and China continue to escalate
- The EU and UK are engaged in trade talks
- The situation in the Middle East remains volatile
Earnings — What to Watch
| When | Ticker | What to look for |
|---|---|---|
| 20:00 HKT | ORCL | Q4 earnings and revenue guidance |
| 21:00 HKT | SBUX | Q2 earnings and same-store sales growth |
Stocks Worth Watching
- AAPL: Apple's stock fell -1.10% to 295.95 despite strong earnings
- GOOGL: Google's stock declined -2.53% to 363.79 due to increased competition
- TSLA: Tesla's stock fell -2.05% to 396.38 despite strong delivery numbers
- JPM: JPMorgan's stock rose 0.70% to 333.46 due to positive earnings
- GS: Goldman Sachs' stock rose 0.78% to 1,099.14 due to strong trading revenue
What Could Break the Tape
A surge in the VIX could indicate increased market volatility, leading to a decline in stock prices.
A strong earnings report from ORCL could boost investor confidence, leading to a rally in the market.