News category: EQD Research

VIX returned to the low 20’s and the S&P 500 (SPX) gave up over 3% last week. The Nasdaq-100 (NDX) was down just a bit more than SPX, losing 3.59%. We expect an early signal around an economic recovery will be NDX outperformance versus SPX. There are small signs of this happening, but NDX performance

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Mike Tyson once said, “Everyone has a plan until they get punched in the mouth.” That statement sums up last week as traders likely were focused on Thursday’s Personal Consumption Expenditures (PCE) and Friday’s Non-Farm Payroll (NFP) numbers, but Powell punched us in the mouth with comments that caused the biggest equity market moves of

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We are always supposed to take a pause when we hear the phrase “this time is different”, but that’s the best phrase to sum up a news heavy week that combined weak stock prices and a drop in volatility expectations. On the heels of a solid October, the broad based US indices had a tough

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Small cap stocks ruled the week last week with a 6.01% gain for the Russell 2000 (RUT), which turns out to be (surprisingly) the second strongest week for RUT in 2022. The S&P 500 (SPX) trailed with a rise of 3.95% and the Nasdaq-100 (NDX) trailed the other two indices with a gain of just

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The fourth quarter is only two weeks old and many market participants are already muttering about just getting the year over with. Last week the S&P 500 (SPX) and Russell 2000 (RUT) both lost about 1.5% while the Nadaq-100 (NDX) was down by over 3%. We know it feels like Q4 is not going well,

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Despite Friday’s sell off, equity indices were higher after the first week of the last quarter of 2022. As an interesting aside, note the week over week drops in the various volatility indices does not tell much about the amount of volatility experienced by market participants last week. When we speak to those in the

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I was recently on a panel with some real smart folks talking volatility. One of the other panelists, Scott Nations, pointed out that while we were talking the October VOLQ future was at a premium to the spot index, while the October VIX future was at discount to spot VIX. Simply stated, VIX was in

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This past quarter was a tough one, there is no way to sugar coat it. In this space, we normally start out with a quick look at the previous week’s market activity.  However, we are going in a different direction today. We decided to look at the S&P 500 total return in the third quarter

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Two brutal weeks in a row is how one of my students referred to the past couple of weeks in the equity markets. This past week was worse than the previous one with US equity indices dropping between 4.64% (Nasdaq-100 / NDX) and 6.58% (Russell 2000 / RUT). Even Europe, which was holding up lately

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U.S. equities put up a September like week losing between 5.77% (Nasdaq 100 – NDX) and 4.53% (Russell 2000 – RUT) on the week. It is worth noting that this comes on the heels of the first full week of September where major indices all rose so with September half done, month to date performance had the S&P 500 (SPX) down 2.1%, RUT 2.5% lower, and NDX down by 3.3%. VIX continues to perplex the volatility tourists closing just over 27 on the week. We fully expect more, “VIX is broken” articles to come out in the next few days.

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