Key Takeaways with Craig
US Equity prices initially sold off after the June Employment report was released and showed stronger than expected jobs growth last month in a “good news is bad news for stocks” as yields jumped. Stock prices recovered during the trading session but a late sell-off led to a mostly lower day, though the Nasdaq notched a slight gain. Let’s take a look back at the first full week of trading in July using QuikStrike data in a format that regular readers will recognize.
- US Equity Prices were higher on the week with the E-mini S&P 500 rising 2% and the Nasdaq-100 up by 5%; implied volatility (“vol”) in the options declined
- WTI Crude Oil prices fell by about 5% as vol increased
- Gold prices declined by 3%
- Euro FX, which we featured in this column this week, declined by another 2% versus the dollars and is trading near 20 year lows; vol increased
- Natural Gas prices rose after a couple of weeks of declines and vol in the options has again surpassed that of Bitcoin at 82%
After another active weeks in our financial and commodity markets, we wish all of our readers a happy and safe summer weekend and we’ll be back next week.
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