U.S. VIX equity volatility sprinted 5% higher
U.S. VIX equity volatility sprinted 5% higher to top 13.0 briefly before cooling off to 12.63 with the stock market rebound from lows, though still up from 11.79 session lows. Stocks are still underwater, but the deepest losses have been trimmed about in half. The pull-back in the S&P 500 saw it briefly probe back below 2.8k before garnering traction again. European majors closed mostly 0.3-0.6% lower with the exception of the UK FTSE 100, which gained slightly as the pound continued to recline below $1.30 after weaker rounds of UK data this week and Brexit concerns. Within the Dow the top dogs are IBM +3.1% (strong earnings), Disney +3% (prevailed over Comcast for Fox assets) and Apple +0.9%, while Travelers -3% (higher catastrophe losses hit earnings), AMEX -2.3% (earnings weakness) and DowDuPont -1.3% trailed. Gold hit a low of $1,211 and yields trailed lower in risk-off trade.