Broadly choppy

US equity indexes closed broadly higher, sp +24pts (0.8%) at 3169. Nasdaq comp' +1.4%. Dow +0.7%. The Transports settled +0.5%.

sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, but the spx maxed out at 3171, with a cooling wave to 3136.

The US President appeared at 9.50am EST...

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Meanwhile...

Global Corona cases, as of midday Wednesday July 8th 2020, totaled 11,884,799, with deaths of 545398. The death rate (as % of global popn - 7.8bn) is currently 0.00007%. It remains the case that very few are aware of the latter number. Certainly, various governments have no interest in highlighting it, for fear the populace will have increased justification to revolt against ongoing restrictions.
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The afternoon saw further chop, with a mini ramp into the close, settling just 2pts shy of the morning high. Broadly though, price action remains choppy within 2965/3233 since early June.

Volatility remained relatively subdued, the VIX settling -4.6% to 28.08.

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Tuesday chop

US equity indexes closed broadly weak, sp -34pts (1.1%) at 3145. Nasdaq comp' -0.9%. Dow -1.5%. The Transports settled -1.1%.

sp'daily5

VIX'daily3

Summary

US equities opened on a weak note, but sp'3159 was all the bears could manage, with most indexes turning positive by late morning.

The afternoon saw a secondary cooling wave from 3184 to 3142, and settling at 3145.

Volatility climbed for a second day, the VIX settling +5.3% to 29.43.

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Positive start

US equity indexes closed very significantly higher, sp +49pts (1.6%) at 3179. Nasdaq comp' +2.2%. Dow +1.8%. The Transports settled +1.6%.

sp'daily5

VIX'daily3

Summary

US equities opened on a positive note, helped by both European, and especially Asian markets. The cooler dollar certainly also gave most asset classes an extra kick higher.

The President (not surprisingly) chimed in...

Indeed, a new historic high for the Nasdaq comp', helped by the US/global equity leader of Microsoft (MSFT).

The late morning and afternoon saw considerable chop, but leaning upward into the close.

Volatility was itself subdued, the VIX settling +0.9% at 27.94.
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