By coinnews 
00:00 Speaker A
US stocks drifting lower in today’s session as investors digest tariff moves and earnings. Let’s get to Yahoo Finance Jared now with the trading day takeaways, Jared.
00:11 Jared
That’s right. Let’s go to number one here. It’s been the markets have been on the razor’s edge. And what I’m looking at, and we’ll put this graphic up right here so I can read the first title, there we go. Boring is good, but only sometimes. So let’s check out the price action of the S&P 500. I’m going to show you realized volatility. That’s what volatility really happened versus implied. Um so this is a five day chart of the S&P 500. This goes all the way back to last Wednesday. That was that huge god candle that we got back then. S&P 500 best day, one of the best days ever. And now we’ve just kind of drifted off and we’re meandering. I mean, the last two days look like virtually nothing. And volatility today, that’s the trading range. All that speaks to is the trading range of the S&P 500 was 1.2%. That is the lowest since March 27th. So today, as I’ve been saying, is has been a reprieve. I promised implied volatility as well. And so this is a look, if you look at the options market over the next 30 days and the S&P 500, all those options, you spit out a number, that number right now is 30.2. This is a five-day chart. I’m going to show you a year to date so you can see where we’ve been. All much higher. In fact, this was 60 at the intraday highs. So we’ve come down appreciably, but we still got some room to go here.
02:13 Speaker A
What about those Wall Street gurus? The strategists, Jared, that we turn to for advice and guidance about where the markets headed. What what do they say?
02:26 Jared
Well, you know, Wall Street was originally a wall. It was to separate the English and the Dutch, and today we’re seeing a Wall Street divided. Um but it’s not over nationality. No, it’s about the bulls and the bears. And so really interesting, we’ve we’ve uh the price targets in the S&P 500, we’ve just seen this incredible spread, and it’s opened up so wide. The opinion between the lowest number on the S&P 500 target year end and the highest one is at the highest amount since going back all the way to 2000. So there are really a lot of opinions and this speaks adds to the uncertainty. So, you know, we’re just talking about volatility and that effect effect on uncertainty. This is a very similar situation here.
03:25 Speaker A
What about the dollar as well? What’s the latest intel and insight for Blikri on that?
03:33 Jared
Let’s talk about the dollar. Um the dollar, as we were just talking about this yesterday, the dollar is at the lowest point in about three years. And I need to dial up the US dollar index. Here we go. Um but the dollar likes to trade in ranges. And you can see this is just a huge trading range, and we are now at the bottom end of it. And we just got the global, the Bank of America Global Fund Manager Survey today. And we have almost a record position of people thinking, and these are the very smart money people, thinking that the dollar is going to continue going down even more. So when you have the propensity for a mean reversion in the in the dollar, and that’s what it tends to do over time, combined with this extreme negative sentiment, that just adds to my case that we might see a higher dollar. Now, the critical question is, what does that mean for stocks? Because
04:49 Speaker A
Right. Is it would a higher dollar always be bad news for risk assets, like stocks?
05:00 Jared
Yeah. Well, the thing is, the dollar has actually been positively correlated with stocks going back to last September. And this was kind of surprising to me. And let’s take a look. We got the US dollar versus the S&P 500, and we’ll do a one-year chart. And now the dollar is very muted. So these charts look very different, but if you just concentrate on the direction here, you can see that the dollar kind of broke away, started going higher. The S&P 500 was already going higher, and then they both declined together. And the tariffs have really complicated the situation so that a weaker dollar is not necessarily representative of risk on. It’s people leaving the dollar in mass. They want to get rid of their stocks and their bonds. These are foreigners. So if we see that reverse, if we see foreigners once again in demand for US equities and bonds, I think that would be an actual good sign. So the dollar going up could be bad, could be good.
06:15 Speaker A
Now, we just covered a lot of ground there.
06:18 Jared
I think so. I hope so. Appreciate it.
06:22 Speaker A
Thank you, Jared.