May 1, 2017

Wall Street's 'fear gauge' plunges to 10-year low as even Trump can't rattle this bull

Wall Street’s “fear gauge” did something it hasn’t done in more than 10 years.

The CBOE Volatility Index (VIX) hit a low of 9.90 during trading Monday, its lowest level since February 2007.

The index fell to that level even after President Donald Trump told Bloomberg News just before 1 p.m. EDT that he was “looking at” breaking up the big banks. The major U.S. stock indexes, led by bank stocks, declined suddenly on Trump’s remarks before rebounding in a volatile trade.

But by the end of the day, the unexpected comments from the president didn’t cause more people to buy protection in the options market from a market drop, something the so-called Vix measures.

The Nasdaq Composite Index closed at a new record.

Monday marked the second time this year the Vix has traded below 10, the first being Feb. 1. The index broke below 10 for less than a minute after a Federal Reserve monetary policy decision was announced.

Vix since Jan. 1, 2007

Source: FactSet

—CNBC’s Christopher Hayes contributed to this report.

Watch: Stocks that soar when VIX drops 20 percent

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Twitter Is Concerned Ryan Seacrest Is Coming For All Of Our Jobs

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video;a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); On Monday, Kelly Ripa announced that Ryan Seacrest would be her new “Live! with Kelly” co-host, replacing Michael
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'Fixer Upper' Star Chip Gaines Responds To Lawsuit Filed By Former Partners

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Chip Gaines of HGTV’s “Fixer Upper” has responded to the lawsuit filed against him by his former business partners. 

On Saturday, Gaines addressed the news on Twitter and, at the same time, seemingly called out his former “friends.” Judging by the tweet, we think it’s safe to say Gaines isn’t too impressed by the whole situation. 

Gaines’ previous partners, lawyers John L. Lewis and Richard L. Clark, are suing him for over a million dollars, claiming he bought them out of their shares in Magnolia Realty without telling them about HGTV’s decision to air “Fixer Upper.” Lewis and Clark reportedly allege they were pressured to sell their shares before they were aware of how much “Fixer Upper” would increase Magnolia’s value. 

“We are confident that these claims will be found to be meritless, and it is disappointing to see people try to take advantage of the hard work and success of Chip and Joanna Gaines,” Gaines’ attorney, Jordan Mayfield, told HuffPost via email. 

HGTV told HuffPost the network is aware of the lawsuit but did not comment any further.

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