Remy Blaire: And now, with midday trade underway, let me go out to Chicago. FINTECH.TV contributor Errol Coleman joins us live from the trading floor. Happy Friday to you, and thank you so much for joining us. Right now we are looking at U.S. stock futures positive, but this does come on the heels of this week’s volatility. So what are you following in midday trade?
Errol Coleman: Absolutely. Good afternoon, Remy. It’s been a crazy week again. We’re coming down to the close here. We’ve got about five hours of market open left. We saw a lot of carnage yesterday. Investors are very hesitant today, especially after a day like yesterday. [unclear: “We barely seen volatility popped to a high of 28”]. What’s been the main question today, surprisingly, is how volatility only reached 28, especially with yesterday being one of the largest selloffs we’ve seen in dollar volume. So seeing that level of volatility is interesting. What is it really going to take? What does the market really need to see for us to go beyond that 30 level on the volatility index? That’s what we’ve been keeping an eye on. A lot of indecisive action going on today, but that’s very understandable after a day like yesterday.
Remy Blaire: Yes, and indeed it has been quite the week, between the midterm elections and that post-election rally, followed by yesterday’s tech selloff. And here we are digesting the jobs report on this Friday. As we look ahead to next week, we do get more earnings, even though this season will actually be cooling down. We get inflation figures next week on Tuesday [unclear: “from”], and we also get some key earnings from hyperscalers. But if we look at prediction markets, what are the market traders watching?
Errol Coleman: Right now it’s going to be a lot of CoreWeave. I know next week CoreWeave earnings right now is pricing in about a nine point move, whether that’s to the upside or downside. Implied volatility is giving us about 23% right now. CoreWeave is also trading at its 18-month lows. So I think a lot of the prediction markets and a lot of traders watching volatility are going to be wondering what the response is going to be. Like you mentioned, we had elections this week. We had a lot more earnings this week, and not only did we have earnings, they reported great earnings but poor forward guidance. So we’re trying to see if this is going to be the common theme we’re going to be seeing into the end of this month, especially seeing how names like CoreWeave pan out. It’s going to be the very same conversations: debt spending, AI infrastructure, things of that sort. So again, there’s going to be a nine point move, plus or minus, going into next week for CoreWeave. It’s trading at an 18-month low. We’ll be on the sidelines watching to see how they respond here.
Remy Blaire: Well, a lot coming down the pike next week, so hopefully you can get some rest and digest what’s happened this week. I appreciate your time, and have a great weekend.
