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S&P/ASX 200 futures up 3%, volatility takes a breath

S&P 500 Index closed up 0.47% and the Nasdaq Composite closed up 2.30%.

Flight Centre Limited - S&P/ASX 200 futures up 3%, volatility takes a breath
Equity market volumes in the US were well below recent weeks

S&P/ASX 200 (INDEXASX:XJO) (ASX:XJO) futures are pointing to a higher open today after yesterday the market closed down 3.44% to 4,782.90.

It continues to be difficult to predict the market on a daily basis but general market expectations are for some sort of bounce today.

The S&P 500 Index (INDEXSP:.INX) closed at 2,409.39, +11.29 or up 0.47% and the Nasdaq Composite (INDEXNASDAQ: .IXIC) closed at 7,150.58, +160.73 or down 2.30%.

Small cap destruction continues

In the small cap space, certain stocks continue to be hammered as institutional money taps out.

Lovisa Holdings Ltd (ASX:LOV) was down 43.8% yesterday to $2.45, it was trading over $11 one month ago.

Travel names continue to be hit hard on a daily basis with yesterday’s performance as follows:

 

 

Gold stable, oil volatile

Gold remains flat around US$1,471 per ounce while Crude Oil WTI was relatively flat overnight finishing around US$26 per barrel but endured some wild swings.

Oil fell as low as US$20.50 per barrel and reached over US$28 per barrel in the past 24 hours.

The AUD has endured similar volatility going as low as 55.1 cents vs the US dollar before stabilising at 57.3 US cents.

 

 

Quick facts: Flight Centre Limited

Price: 12.85 AUD

ASX:FLT
Market: ASX
Market Cap: $2.56 billion
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