Stocks were sliding on Thursday as the trade-relief rally fizzled out, but investors were still feeling zen. The Cboe Volatility Index, a widely-followed fear gauge that tracks S&P 500 options and trades under the ticker VIX,

World shares and U.S. futures slipped Thursday after U.S. stocks drifted to a mixed close on Wall Street. Oil prices fell about $2 a barrel. China moved to reverse some of its “non-tariff” measures against the U.S. as agreed with Washington in their temporary trade war cease-fire and most markets traded in a narrow range.

Stocks are edging higher in early trading on Wall Street, adding to their gains for the week. The S&P 500 was up 0.3% in the first few minutes of trading Wednesday. The index erased the remainder of its losses for 2025 a day earlier.