Stocks Bounce Back as Investors Watch Volatility

And ahead of the new trading day, let's go out to Chicago. Fintech TV correspondent Mark Payton is live from the trading floor. Good morning Mark. Happy Tuesday to you. So we do have quite a week with key economic data, as well as a slew of fed speeches scheduled today. So what pre market activity are you tracking this morning?
Yeah. Good morning. I mean, after yesterday's weakness, we're seeing a little bit of a bounce back this morning. S&P 500 futures are pointing to a slightly higher open. So there's a little bit of relief coming into the market. But I'm really watching volatility this morning. And that's where the VIX comes in.
Right now the VIX is around 15.8 down about 1.7% from the previous close. And remember the VIX isn't telling us whether stocks are going higher or lower. It's really telling us how much movement the option market is expecting. So when the VIX moves higher the options market is pricing and more expected movement.
When it comes down those expectations are easing. And that's what we're seeing in the morning a little bit of a pullback in expected volatility. I'm also keeping an eye on Russell 2000 here. Because small caps can give us another indication of what's happening beneath the surface. So as we get closer to the opening bell the question is can the S&P hold on to these gains.
Do we see participation from small caps. And does the VIX continue to ease. Because if all three are moving in that direction, that would suggest a somewhat of a calmer start to the session. But there are still some things investors are watching closely, particularly oil and treasury yields. So there's definitely a lot for this market to work through today.
Indeed, Mark a lot to keep our eyes on as we kick off today's trading session. Thank you so much for joining us this morning from the CBO.
Thank you.