NASDAQ

Head Of "World's Most Bearish Hedge Fund" Explains Why The VIX Is Now Broken

"When nervous investors buy VIX ETFs they actually push down the VIX, and confident investors who are short VIX ETFs encourage it to spike. Given that VIX measures often are used to guide the risk that algorithms can take, this seems very contradictory to me. I would use extreme caution when using the VIX as part of any investment process."

Futures Rise, Global Stocks Flat After Ugly Chinese Economic Data

One day after all three US indexes hit record highs for the first time since December 31, 1999, US equity index futures, European stocks and Asian equities are little changed after the Nikkei jumped on the back of a Yen weakness, while China reported disappointing economic data and the PBOC suggested that the flood of new debt is slowing which pushed Chinese stocks higher by 1.6% on hopes of more stimulus.

David Rosenberg: "This Market Makes No Sense"

"Long bonds, short the Fed funds futures. Long equities but long bonds. Long gold but long equities. Long the dollar and long the precious metals. It is next to impossible to make sense out of this; I’m not even sure Graham or Dodd could if they were still alive."

S&P To Open At New Record High As Commodities Rise, China Trade Disappoints

The meltup continues with the S&P500 set to open at new all time highs as futures rise 0.2% overnight, with European, Asian stocks higher, as job data pushed MSCI Asia Pacific Index towards highest close since Aug. 2015. Germany, U.K. economic data seen positive, with dollar, oil rising, and gold declining. The MSCI All-Country World Index rose 0.4% and was headed for its highest close in almost a year.

D-Day For Australia's Real Estate Bubble?

This rotting shack in Sydney and its tiny plot of land sold for nearly $1 million in May of 2014 – more than two years ago. Since then, house prices in Australia have increased even further. Yes, it is an insane bubble, no doubt about it... and now, it appears, the banks are finally realizing, and are pulling back.

Biogen Soars On Merck, Allergan Takeover Rumor; Pushes Nasdaq Biotech Index Green

Moments ago, with the market in need of a catalyst to avoid breaching the dreaded 2,150 support level (as explained earlier by JPM's Marko Kolanovic), it got that and more, when a WSJ story, ostensibly leaked by the paper's traditional Goldman-based M&A source, hit about a takeover of Biogen by Merck and Allergan, sent the stock soaring, now higher by over 8%, to a market cap of $71 billion.