U.S. VIX equity volatility rose 2% to 19.18
U.S. VIX equity volatility rose 2% to 19.18, though below earlier highs of 19.91 after stocks rebounded from lows on more positive Lighthizer remarks on the outlook for the Trump-Xi meeting. That's keeping the VIX pinned pretty close to its 20.0 50% retrace area, while the major indices are loitering just in and out of the red, with the Dow underwater and both the S&P and NASDAQ comp above the waterline. The S&P 500 at 2,740 is a hair under its 200-day m.a. at 2,761, a break of which could trigger a rally toward 2.8k if a deal is struck, or if negotiations fail the 2,631-2,603 Nov-Oct lows could be targeted next. In terms of the VIX, that puts 16.0 in the cross-hairs of a Sino-U.S. deal and 23.81-27.86 as the next upside targets in the event of deal failure. Top gainers in the S&P are AbbVie +3%, Raymond James +2.9% and the Gap +2.9%, while on the downside are Laboratory Corp -11.2%, GE -6.4% and Marriott -5.8%.