Wall Street was in a bullish mood this week, with the S&P 500, STOXX 50, and Nikkei 225 all rising by notable amounts. The S&P 500 rose by 2.67%, while the STOXX 50 rose by an even larger 3.31%. The Nikkei 225 was relatively subdued, rising by a still respectable 0.56%. The VIX and VSTOXX both fell, with the VIX dropping -2.78 points to 18.35 and the VSTOXX dropping -1.15 points to 17.34. Bank earnings, inflation data, comments from Powell, and a strong jobs report all contributed to the market's bullishness. Natural-gas prices in Europe have been in decline, providing a buffer against inflationary pressures in the region.
Expected market ranges for next week are below. As I wrote earlier you should not use normal distribution to calculate expected confidence intervals for market, but rather a fat-tailed distribution or empirical quantiles.
In general volatility indexes around the world fell, with the only two exceptions VNKY (Japan ) and VTA35 (Israel)
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