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SPY, Major ETFs Bounce on Potential Debt Deal

By  +Follow October 16, 2013 8:45AM
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Market optimism about what appears to be an approaching end to the government shutdown and debt ceiling crisis helped push up the major indicies, pulling up most of the biggest ETFs with them. With the DJIA and S&P both gaining more than 1.15 percent by early afternoon and the Nasdaq up almost as much, the highest-volume, broad market ETFs were on the rise. The SPDR S&P 500 ETF ($SPY) gained almost 1.25 percent, the Financial Select Sector SPDR ($XLF) climbed almost 2 percent, PowerShares QQQ ($QQQ) jumped almost 1 percent, and the iShares Russell 2000 Index ($IWM) was up almost 1.25 percent.

Congressional Deal on Debt Ceiling, Funding Appears Likely

The failure of the House of Representatives to pass a bill last night, paired with a new agreement in the Senate, appears to have bolstered market confidence overnight that a debt default will be avoided. Senate leaders announced Wednesday morning that they had reached a deal for a bill that would extend the nation’s borrowing limit to early February and end the two-week shutdown, approving a budget that will keep the government open until January 15. And today’s bounce would seem to indicate a consensus in the markets forming around the belief that Speaker of the House John Boehner will bring the Senate bill up for a vote, that it will pass, and that President Obama will sign it into law.

VIX Plunges, Emerging Markets Don’t

Today’s big losers are traders betting on the VIX, as an agreement in congress radically decreases anticipated market volatility. The iPath S&P 500 VIX Short Term Futures ETN (VXX) plunged almost 9.5 percent on Wednesday, while the inverse ETF, the VelocityShares Daily Inverse VIX (XIV) climbed over 9.75 percent. Equities investors also seemed to be shifting back towards a risk-on environment as major ETFs tracking emerging market ETFs were on the rise. The iShares MSCI Emerging Markets Index (EEM) and Vanguard FTSE Emerging Markets ETF (VWO) gained over 0.75 percent, the and the iShares MSCI Brazil Index ($EWZ) was up over 1.25 percent.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for SPY
tunckar
19 Dec 14 05:37:13
RT @YahooFinance: The last time S&P 500 up 2% two days in a row was March 2009 http://t.co/iuqQwlDkoJ via @KimbleCharting $SPY http://t.co/…
maeflorbayod
19 Dec 14 05:37:01
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
NC Climate Office
19 Dec 14 05:36:57
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Emmett
19 Dec 14 05:36:55
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
learningmusic
19 Dec 14 05:36:43
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Sam Mamudi
19 Dec 14 05:36:39
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Charell Star
19 Dec 14 05:36:36
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
TechTown Portland
19 Dec 14 05:36:33
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
carol
19 Dec 14 05:36:31
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
NC Climate Office
19 Dec 14 05:36:24
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Emmett
19 Dec 14 05:36:13
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Amy Snyder
19 Dec 14 05:36:12
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Jan Ozer
19 Dec 14 05:36:11
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
maeflorbayod
19 Dec 14 05:36:05
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
learningmusic
19 Dec 14 05:35:59
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Charell Star
19 Dec 14 05:35:49
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Sam Mamudi
19 Dec 14 05:35:46
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Hershey
19 Dec 14 05:35:40
RT @YahooFinance: Charting an S&P 500 March Higher http://t.co/01MHKbMXaX via @harmongreg $SPY http://t.co/cRNZMSKbVb
carol
19 Dec 14 05:35:35
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
NJ Chive Meetups
19 Dec 14 05:35:32
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
TechTown Portland
19 Dec 14 05:35:29
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Lauren Parrish
19 Dec 14 05:35:28
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Breanne
19 Dec 14 05:35:27
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Storage Blog
19 Dec 14 05:35:26
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
John .
19 Dec 14 05:35:22
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
RemoteProtectionSyst
19 Dec 14 05:35:21
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Jan Ozer
19 Dec 14 05:35:15
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
NJ Chive Meetups
19 Dec 14 05:34:37
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Daniel
19 Dec 14 05:34:37
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
John .
19 Dec 14 05:34:31
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Breanne
19 Dec 14 05:34:21
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Karen Gandy, Hou
19 Dec 14 05:34:17
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Lauren Parrish
19 Dec 14 05:34:11
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
All about Nepal
19 Dec 14 05:34:10
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Cathy V Rojas
19 Dec 14 05:34:08
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Campus Kitchen @
19 Dec 14 05:34:04
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
RemoteProtectionSyst
19 Dec 14 05:33:59
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Michael
19 Dec 14 05:33:55
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
gice
19 Dec 14 05:33:43
RT @traderstewie: $SPY is showing down slightly in premarket but be aware it's NOT down. It's just went Ex-dividend today. S&P500 futs are …
Chase Schoeffler
19 Dec 14 05:33:35
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Laura
19 Dec 14 05:33:32
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Cathy V Rojas
19 Dec 14 05:33:31
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Daniel
19 Dec 14 05:33:24
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
mitch
19 Dec 14 05:33:10
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Campus Kitchen @
19 Dec 14 05:33:09
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Edward Ortiz
19 Dec 14 05:33:09
$SPY Big lesson here when following price I talk about the zero line all the time when in fact will keep you on the right side of the market
Karen Gandy, Hou
19 Dec 14 05:33:06
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
All about Nepal
19 Dec 14 05:33:04
RT @philstockworld: Stop the Rally, We Want to Get Off! $SPY $QQQ $DIA $IWM #QuadWitching -- http://t.co/Xxkdp0oTpQ http://t.co/fwSoHQOrMA
Brian Warfield
19 Dec 14 05:33:01
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
Alison Hunt
19 Dec 14 05:32:49
RT @philstockworld: Quad Witching Day Gives Us Nice Short Entries on #Futures $SPY $IWM $QQQ $DIA -- http://t.co/aYdVpQrzLh http://t.co/3M…
				
				
By  +Follow October 16, 2013 8:45AM
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