U.S. stocks remain under pressure as the trading session continues, with the S&P 500 down about 0.7% and facing the possibility of a fourth consecutive losing session. From the Cboe trading floor, Fintech TV correspondent Mark Payton breaks down the latest market action as volatility rises and the VIX moves around 17.3.
The 10 year Treasury yield is also approaching the 5% level, reaching around 4.93%. Higher yields are increasing borrowing costs and making Treasuries more competitive with equities, while the Russell 2000 is also lower as investors assess risk across smaller companies.
Attention is now turning to Oracle and Adobe earnings after the market close, as well as tomorrow’s CPI report. Prediction market traders are showing strong confidence in both companies, with Oracle given roughly a 79% probability of beating adjusted earnings expectations and Adobe around 93%.
With AI playing a major role in both companies, investors will be watching whether Oracle’s heavy AI and cloud infrastructure spending is translating into growth and whether Adobe can continue expanding as generative AI creates both new opportunities and increased competition.