Equity Markets

Trumpquake: Futures Wipe Out Month's Gains In One Session, VIX Spikes

Growing concerns over the turmoil engulfing President Donald Trump’s administration weighed on risk appetite, sending global stocks and US futures lower, pressuring the dollar while boosting yen, gold and VIX. The sharp drop has seen the gains over the past month wiped out in one session.

Euro Surges As Trump Fears Slam Dollar; Futures Poised For New Records

In a replica of Monday's early trading, European shares are down, this time led by health-care stocks even as the Euro surges above 1.1050, the highest level since the US election. Asian equities rose, while S&P futures were unchanged although we expect the ramp to kick in any second, and take the NASDAQ to another all time high. Meanwhile, the US dollar weakened for a fifth day.

Morgan Stanley: "Book Your Summer Holidays, But Put These Trades On First"

"Have you booked your summer holidays yet? If not, you probably should... Record-low readings of the VIX suggest that investors have little to worry about at the moment. In our view, the current low level of volatility seems unsustainable though, but the exact timing of a volatility rebound remains uncertain. Hence, it might make sense to put on trades that hedge against unexpected market moves over the summer."

Markets All Too Quiet Ahead Of Inflation, Retail Sales Data

Asian stocks and S&P futures are both feeling the weather this morning, while European stocks are little changed as traders have decided to hold back until today's key US CPI and retail sales data is released in under two hours.