DJ VIX Edges Higher But Heads for Big Weekly Drop
By Gunjan Banerji
The Cboe Volatility Index is edging higher alongside stocks in early trading Friday.
The VIX, which measures expected stock-market swings, is up 0.31 point to 22.08, while futures tracking the gauge expiring in February and March are also rising to end the week.
Meanwhile, the S&P 500 is up about 0.1%, headed toward a big week of gains.
The VIX and S&P 500 typically move in opposite directions, since demand for insurance-like contracts to protect against stock-market swings often eases as the market is rising.
Wall Street's "fear gauge" has tumbled so far this week with trading in GameStop and other hot names calming down.
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(END) Dow Jones Newswires
February 05, 2021 10:25 ET (15:25 GMT)
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