Why Earnings Should be the Focus, Not Volatility

Since its April low, the Chicago Board Options Exchange Volatility Index -- a gauge tracking U.S. equity swings -- has climbed 25 percent through Thursday, beating similar indexes for other asset classes, Bloomberg Tradebook highlighted in a note. While still much lower than at previous peak levels, the VIX’s average this year is the highest since 2011 amid concern over global growth, the timing of Federal Reserve interest-rate increases and lackluster earnings. AllianceBernstein Portfolio Manager Mark Phelps discusses market volatility with Bloomberg's Mark Barton on "The Pulse."

Alibaba Sales, Profit Top Estimates
33:27 - Alibaba closes at a record high in New York after reporting sales and earnings that topped analysts' estimates. Revenue jumped 56%, with profit nearly doubling in the June quarter. Bloomberg's Selina Wang reports on "Bloomberg Daybreak: Australia." (Source: Bloomberg)
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