18 minutes ago
CBOE Volatility Index rate of change measure hits April high last week
The CBOE Volatility Index (VIX) 10-day volatility gauge rose to 32 last week, the highest level since April, according to data compiled by Canaccord Genuity analyst Michael Welch.
Welch said that of the five times the measure (which is separate from the index itself) has hit that level in the past two years, only one of those times coincided with a short-term low in the stock market. On the other four occasions, the S&P 500 fell between 2% and 10%, he noted.
Nicknamed Wall Street’s “fear index,” the VIX is a measure of market volatility.
Alex Harring
37 minutes ago
Ethereum ETF set to debut on Tuesday
An Ethereum ETF is set to launch in the U.S. on Tuesday, roughly six months after the debut of a bitcoin fund.
Among the firms that have been racing to launch Ethereum funds are large asset managers such as BlackRock, Fidelity and VanEck, as well as crypto-focused firms such as Bitwise, 21Shares and Grayscale (which is essentially converting its multi-billion-dollar Ethereum trust into two ETFs with different fee levels).
Demand for an Ethereum ETF is expected to be lower, at least initially, than a bitcoin ETF, which has attracted more than $16 billion in net inflows so far, according to FactSet. Still, the fund is another sign of how cryptocurrencies are becoming increasingly intertwined with the traditional financial system.
“Today’s approval is further evidence that cryptocurrencies are here to stay as an asset class,” Ophelia Snyder, co-founder and president of 21Shares, said in a statement.
Jesse Pound
53 minutes ago
View stock price movements outside business hours
Some of the stocks that made notable moves in extended trading were:
- Cadence Design Systems — The electronic design stock fell 1.6% after a weak earnings outlook for the current quarter. Cadence expects third-quarter earnings per share of $1.39 to $1.49, compared with analysts surveyed by FactSet expecting $1.61 per share.
- Crown Holdings — Shares of the packaging products maker rose 6% after the company forecast better-than-expected full-year earnings. Crown now expects earnings per share of $6 to $6.25, beating analysts surveyed by FactSet’s forecast of $5.97 a share.
- NXP Semiconductors — The semiconductor company fell 8% after its second-quarter adjusted earnings fell short of market expectations. NXP reported adjusted earnings of $3.20 per share, compared with the consensus estimate of $3.21 per share, according to LSEG.
See the complete list here.
Alex Harring
1 hour ago
Stock futures are almost flat
Stock futures tracking the Dow, S&P 500 and Nasdaq 100 were little changed as of Monday night just after 6 p.m. ET.
Alex Harring
