Oil, Trade and FOMC Equals A Big Zero Today

The US markets were volatile today, but mostly up as concerns about trade seemed to ease. However, we are far from out of the woods, as US trade allies continue to pursue retaliatory measures against the United States. Oil prices were lower today after a surprise build in inventories, while President Trump took jabs at OPEC over higher gas prices. The VIX was lower, but still above 15.00 as of one hour before the close. The FOMC’s minutes were released today as well, but yielded no surprises. With all these things in mind, we can expect risk of volatility spikes to remain elevated. Here’s what to expect.