The CBOE Volatility Index is set to close up more than 3 points and not far from session highs. Today’s jump in the market’s fear gauge is in reaction to the equity market meltdown. It also reflects heightened risk perceptions ahead of monthly payroll event risk. The bar has been set pretty low with expectations for a +25K increase in non-farm payrolls. A loss of jobs would represent back-to-back declines and add to talk of recession, fueling more pessimism Friday morning. An in-line or slightly better-than-expected report should get a much more favorable reaction in the equity market.
Category: All Indexes
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Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.