US futures little changed amid latest geopolitical shock

investmentnews.com:

US stock index futures opened little changed as investors weighed the market implications of the attack on Donald Trump that threatened to upend the US election.

Futures on the S&P 500 Index for September rose 0.1% at 06:04 p.m. in New York, while Nasdaq 100 contracts traded little changed. Early trading suggested little consternation, with the Cboe VIX July futures trading at 12.89, up from 12.83 at the close Friday.

Still, the attempted assassination of the former president threatened to shatter the calm that’s lately pushed the S&P 500 Index from one record to the next, forcing traders who have been focused on Federal Reserve policy and economic resiliency to consider political implications as they wade into summer trading. 

While traders generally don’t expect Trump’s assassination attempt to derail the stock market’s trajectory, a pick-up in near-term price swings is likely. They’ll also contend with the start of earnings season and fresh economic data that could help determine the Fed’s policy path.

While the Saturday shooting grabbed headlines in an already tumultuous political season investors are left assessing the attack’s impact on Trump’s chances to reclaim the presidency. Among the industries most likely to trade on his chances of re-eletion are prison operators, Bitcoin miners and firearms companies, traders said.

“The assassination attempt reminds investors there are always potential unknowns which can potentially affect markets,” said Stephen Solaka, co-founder of Belmont Capital Group. “If anything, it will create a floor on volatility moving forward, but how much of a rise, if any, will be a reflection of movement in the market.”

The Saturday shooting forced traders back to their keyboards on a weekend,