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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
The Doctors Agency
31 Oct 14 08:28:04
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Conner
31 Oct 14 08:27:33
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
Ryan Detrick, CMT
31 Oct 14 08:27:32
@sspencer_smb ha, I've only seen $SPY data go back to '80, so i'm saying ever. but if you have further back data, then it is since '80.
ETFMarketsMuse
31 Oct 14 08:27:19
RT @rareviewmacro: Upside #gamma between call option strikes: $SPY 197-211 = 12.1 bln & $SPX 1975-2075 = 18.4 bln. Dealers offsides by ~30…
Jonathan Rosenblum
31 Oct 14 08:27:16
RT @harveyrosenblum: $SPY 18 trading days from all time hi to swing lo, 12 trading days from swing lo to today's new athi ... too far, too …
Conner
31 Oct 14 08:26:55
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Yarazza
31 Oct 14 08:26:54
$spy macro/long term perspective on S&P 500 http://t.co/knVhomJwGE
R.O.O.F.
31 Oct 14 08:26:51
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
Andrew Kassen
31 Oct 14 08:26:18
RT @seeitmarket: Learn From The Pros -- Check Out Our New Season of "Market Masters" - http://t.co/5NlWDCCvsA $SPY $QQQ $IWM $STUDY
R.O.O.F.
31 Oct 14 08:26:18
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Conner
31 Oct 14 08:26:12
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
armando
31 Oct 14 08:25:54
RT @SKITHEG: Everyday the room gwts more active chat killing it $jnug $spy $gpro $lnkd @ArmandoSeba1980
B.
31 Oct 14 08:25:28
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
New York Ayurveda
31 Oct 14 08:25:25
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
R.O.O.F.
31 Oct 14 08:25:18
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Ron Ryckman
31 Oct 14 08:25:01
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
New York Ayurveda
31 Oct 14 08:24:52
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
B.
31 Oct 14 08:24:46
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Ron Ryckman
31 Oct 14 08:24:37
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Igor Ivanovskiy
31 Oct 14 08:24:00
Watch this move in $ES_f #HouseOfPain $spy $vix http://t.co/uGxpp8QDg7
Ski The G
31 Oct 14 08:23:59
Everyday the room gwts more active chat killing it $jnug $spy $gpro $lnkd @ArmandoSeba1980
Big Money
31 Oct 14 08:23:53
$SPY $PACB $NWBO $VPCO $CDTI check it out http://t.co/uXUW0oSbRx http://t.co/Ubq11PNYz1
♥ @MyOrgone ♥
31 Oct 14 08:23:41
Dump $AAPL!! Make 100% per year using our 'Top 10 Hedge Fund' Artificial Intelligence - http://t.co/x7MDlPJXnp $QQQ $SPY
Ron Ryckman
31 Oct 14 08:23:39
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
See It Market
31 Oct 14 08:23:37
Learn From The Pros -- Check Out Our New Season of "Market Masters" - http://t.co/5NlWDCCvsA $SPY $QQQ $IWM $STUDY
B.
31 Oct 14 08:23:35
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
William T Mogey
31 Oct 14 08:23:32
Wow, just want you want to see if you're bullish. Cyclicals leading, defensives lagging, $XLU down $SPY $SPX http://t.co/kpOgfXaeHV
Julian
31 Oct 14 08:23:31
The world was ending when oil went from 85 to 80. Looks like it can see 75. I wouldn't buy "cheap oil plays" just yet. $XLE $XLP $USO $SPY
Tracey Ryniec
31 Oct 14 08:23:06
"@RyanDetrick: Since '80, today was the 3rd largest Halloween gap higher ever. $SPY http://t.co/x9EiAmeqAc"
Kirkland
31 Oct 14 08:23:01
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
Day Traders Group
31 Oct 14 08:23:00
what we are trading $GPRO $SPY $TWTR $FB $AAPL $XLE $GLD aand more http://t.co/qZfc4BgZcY http://t.co/QcaZrPQbNe
Keith
31 Oct 14 08:22:57
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
Kirkland
31 Oct 14 08:22:42
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
G
31 Oct 14 08:22:40
$SPY the epic set up bubble..juice it before elections..what a scam
BAM Investor
31 Oct 14 08:22:37
$SPY =a false breakout in front of 9:00am pst followed by a downside reversal would set up a nice shrt trade (based on historic action)
Keith
31 Oct 14 08:22:25
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Ash J
31 Oct 14 08:22:15
trick or treat shorts, happy Halloweeeeeeeeeen $SPY $SPX #HappyHalloween
Kirkland
31 Oct 14 08:22:12
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Redmond Reporter
31 Oct 14 08:21:59
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
Native Texan 2.0
31 Oct 14 08:21:55
$SPY is dressed up as a Zombie for Halloween, it just won't die.
Redmond Reporter
31 Oct 14 08:21:35
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Keith
31 Oct 14 08:21:23
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
BTR
31 Oct 14 08:21:06
$GRPN up 20%! LOL. But no one is chasing yields or taking too much risk right now. This is all normal. $spy #cnbc #wsj #cnn
Redmond Reporter
31 Oct 14 08:20:40
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Zachary Brethauer
31 Oct 14 08:20:04
$SPY exited intraday longs, quick in and out short about to break.
Mr. Dolla Maker
31 Oct 14 08:19:24
$SPY Surprised That This Didn't Make New All Time Highs Today.
ALLIED
31 Oct 14 08:19:04
RT @philstockworld: Fedless Thursday Update - How We're Playing the End of QE! $AAPL $SPY $DIA $QQQ $IWM #Stocks #Futures #Options -- http…
Ashley
31 Oct 14 08:18:56
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
T
31 Oct 14 08:18:48
May be markets are adding ECB QE next? $SPY
Joe Botsch
31 Oct 14 08:18:47
RT @traderstewie: Today $SPY high is smack on the "$BABA top" highs . a couple of digestive days would do a lot of good
				
				
By  +Follow October 16, 2013 8:45AM
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