Markets Adrift With No Wind (Nasdaq KFTX-5/8)

Nasdaq KFTX & Market Overview (5/8/17)

Markets Adrift

Dead calm. Like being out in a sailboat and having zero wind. Just drifting and drifting. That’s the story of the markets lately and especially today. The big news (other than that election thing in France) was the VIX is now solidly below 10 (9.77). Volatility is just plain non-existent. So, the DOW added 5 points, the S&P was flat and the NASDAQ gained 2 points. Oil added a few penniesGold lost a couple of bucks and the 10 yr treasury yields 2.39%. Big snooze.

In the fintech sector, the KFTX index lost 2.68 (-0.23%) to close at 1157.58. Looks like that sector slept through the day too.

So, Fed is out of the way (for now), earnings season is just about over and the French have a new president. Looks like naps are back in vogue. Keep the snoring down out there.

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