Volatility slides as stock markets rally, US capital markets correspondent Eric Platt reports. Wall Street's fear gauge, the Vix volatility index, declined for the first time in six trading days on Monday.
Monday, April 17 is in the books. This is the New York Minute. Volatility receded for the first time in six days, with the VIX index falling more than 8% to 14.7 as US stocks enjoyed their strongest one-day gain since March 1. Investors have been closely watching the VIX index as trading activity heats up in many of the levered ETFs tied to the index.
Despite rising geopolitical tensions and US President Donald Trump's use of force, the VIX has remained low by historical standards, although it has crept above key moving averages like the 50 and 100-day moving average. The risk off cue from the VIX was also found in traditional haven markets, with the yield on the 10-year US Treasury rising one bit to 2.25% and gold falling $2.00. It was the first uptick in Treasury yields in more than a week.
And now with earnings season underway, it was Netflix's turn at bat. Shares in the streaming movie and TV provider fell as much as 3% before paring those losses on lower than expected subscriber growth. The company added just under 5 million subscribers in the quarter, below its forecast for 5.2 million. And that's the New York Minute.