|Day's Range||11.16 - 12.01|
|52 Week Range||8.84 - 17.28|
The S&P 500 started this week on a strong note but lost strength as the week progressed. On November 16, nine out of the 11 major sectors rose.
Wall Street is lower on Wednesday, as a decline in oil prices brings down stocks in the energy sector. Investors are still unsure of tax reform, too.
The CBOE Volatility Index spiked to 14.5 early Wednesday morning and is hanging out at the 13 level as of this afternoon. Meanwhile in ETF land, the leveraged ProShares Ultra VIX Short-Term Futures (UVXY) is up more than 5% and its unleveraged sister ProShares VIX Short-Term Futures (VIXY) notched a 2.5% gain. Harvard Management Company took the other side of the bet on volatility, according to filings submitted to the Securities & Exchange Commission last week.
Bitcoin futures, which Cboe Global Markets and CME Group hope to list later this year, may accomplish what the global financial crisis could not: decimating a slew of trading firms and threatening the stability of Wall Street’s clearing outfits. No single listed financial product has ever caused such mayhem, but Thomas Peterffy, one of the world’s most successful derivatives traders, is concerned that Bitcoin derivatives will introduce extraordinary volatility into the market that will be difficult to contain. “For the first time, I am extremely scared,” says Peterffy, founder and chairman of Interactive Brokers Group (IBKR).
CVS Health • CVS-NYSE Outperform • Price $66.80 on Nov. 6 by Raymond James For the big drugstore chain turned health-care company, we reiterate our Outperform rating and lower our price target to $80 from $90 following the release of third-quarter 2017 earnings, which came in at the high end of guidance. This represents a sequential decrease of 5.3%, versus the 4.1% decrease implied by the Baird proprietary benchmark.
Despite the firm selloff in the major indexes from record highs Thursday, the Arms Index, used to measure buying or selling intensity, suggested investors were in a buying mood. On big down days, the Arms ...
After rising for eight consecutive trading weeks, the S&P 500 started this week on a stronger note by rising to record high price levels on Monday.
The past 12 months have seen one of the most profound and prolonged declines in market volatility on record.