The CBOE Volatility Index rate of change indicator hit an April high last week, reaching a level of 32, the highest since April, according to data analyzed by Canaccord Genuity analyst Michael Welch. This indicator, not to be confused with the index itself, has only touched this level five times in the past two years. Welch noted that in four of those instances, the S&P 500 pulled back by between 2% and 10%, indicating potential market volatility ahead.
Meanwhile, Ether ETFs are poised for a Tuesday debut in the U.S., following the successful launch of bitcoin funds six months ago. Companies like BlackRock, Fidelity, and VanEck, as well as crypto-focused firms like Bitwise and Grayscale, are all preparing to launch ether funds. While initial demand may be lower compared to bitcoin ETFs, which have attracted over $16 billion in net inflows, the approval of these funds signals the increasing integration of crypto into the traditional financial system.
In after-hours trading, stocks like Cadence Design Systems, Crown Holdings, and NXP Semiconductors made notable moves. Cadence slipped 1.6% on soft earnings guidance, while Crown jumped 6% on strong full-year guidance. NXP Semiconductors slid 8% after missing second-quarter earnings expectations.
Stock futures tied to the Dow, S&P 500, and Nasdaq 100 were near flat shortly after 6 p.m. ET on Monday night, indicating a potentially calm start to the trading day ahead. Stay tuned for more updates on these market developments.
