And now let's check to see how the trading day is shaping up over in Chicago.
Well with that chair washes Jackson Hole speech upcoming as well as Nvidia earnings.
The big implications for volatility as well as options.
Now our correspondent Mark Payton is live from the sea trading floor.
Happy Monday, Mark, and good morning.
So what are you keeping your eye on in pre-market trade this morning.
Yes, you know, let's start out with the week.
There's a little bit of caution on Wall Street, right?
So the S&P 500 futures, they're down about 0.1% this morning.
So we're seeing some early pressure, but certainly nothing dramatic.
The VIX is reflecting some of that caution.
C's volatility index is around 16% this morning, up about 5%.
Still below that 20 level that we've been talking about, it's typically associated with more significant market stress and small caps are also starting in the morning, a little softer with Russell 2000 futures slightly in the red.
So overall a cautious start to a pretty important week for the markets.
Yeah and speaking of this week, of course we get key economic data as well as earnings coming out.
So what options activity are traders they are paying attention to as we head into a new trading week mark.
Yes, definitely Nvidia.
So this is really the big one.
Traders are watching this week.
The company reports earnings Wednesday after the close, and the options market is already signaling that traders are preparing for potentially a big move right now.
Nvidia options are implying a move roughly around 6% either direction.
That's what it's reporting right now.
And that's important because Nvidia has become such a big driver of the AI trade and the Broader market.
So traders aren't just watching Nvidia options.
They're watching whether that volatility could spill over into the broader tax sector and the S&P 500.
So this is one of those earnings reports that could really help set the tone for the rest of the week.
And then the other number I'm watching closely this morning is the 30-year Treasury yield.
It's sitting about 5.2% this morning.
It comes down slightly today, but Look at the chart and the history.
We're still near some of the highest levels we've seen in years, and that matters for equities.
Higher long term yields mean higher borrowing costs across the economy, and they can also put pressure on stock valuations like some of those high growth technology names.
So between Nvidia earnings, options activity, and these elevated long term yields, there's plenty for traders here at CEO to watch this week.
It will be a busy week.
Yeah, indeed, Mark, and as we head into the week as well as this afternoon, we are anticipating Treasury Secretary Besson's speech.
So a lot to keep our eyes on, so I appreciate your time, Mark.
Thank you so much for joining us all the way from Chicago.
Thank you, Remy.
