U.S. stocks fluctuate as bonds slip on earnings, Fed speculation

Volatility Indexes

JPMorgan Chase & Co.’s Global FX Volatility Index dropped for a ninth straight day to 9.15%, the lowest level since May 13. It touched a one-year high of 11.96% on June 24.

Germany’s 10-year bund yield climbed four basis points to 1.55%. Volatility in Treasuries as measured by the Merrill Lynch Option Volatility Estimate Move Index fell to 72.62 yesterday, the lowest level since May 24. The figure is down from 117.89 on July 5, which was the most since December 2010. The one-year average is 64.71.

Corn futures tumbled 2.2% after reaching the lowest level since October 2010. Forecasts for cool, wet weather improved prospects for a crop expected to be a record in the U.S., the world’s biggest grower. Wheat fell 0.9%.

Oil gained 0.2% to $107.15 a barrel, after dropping as much as 1.4% earlier in the session. Natural gas futures increased for the first time in three days, jumping as much as 2.3%, on speculation that a heat wave last week reduced U.S. stockpile gains.

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