US stocks see lowest trading volume of the year
US equity trading volume hit its annual low at 12.6 billion shares, driven by the Columbus Day holiday and a closed bond market. Implied volatility for the S&P 500 remains near six-year lows despite upcoming economic data.
The US stock market recorded its lowest trading volume of the year at 12.6 billion shares, compared to an average of 18.6 billion. This decline was attributed to the Columbus Day holiday and the closure of the bond market. Goldman Sachs traders rated activity at 2 out of 10. Implied volatility for the S&P 500 through Friday is around 1%, one of the lowest levels in six years, despite upcoming inflation data and earnings season.
Market indices showed mixed performance. The S&P 500 held at 7,807 points, the Nasdaq 100 fell 0.7%, and the Dow Jones rose 0.4% to 51,850 points. In Europe, the DAX rose 0.8% to 25,278 points. Semiconductor stocks declined, with SK Hynix down 3.7% in South Korea. Commodity prices also fluctuated, with Brent crude rising 2% to 107 dollars, gold falling 0.6% to 4,168 dollars per ounce, and Bitcoin dropping 1% to nearly 82,800 dollars.