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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.

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Results for SPY
Winborn Traders
21 Apr 15 05:26:35
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Winborn Traders
21 Apr 15 05:26:33
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Diana Vergara
21 Apr 15 05:26:30
RT @YahooFinance: Choppy April trading gives way to solid month-end gains http://t.co/G30CBg1pfO via @AlmanacTrader $SPY http://t.co/cZS7mb…
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21 Apr 15 05:26:16
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Jason Olive
21 Apr 15 05:25:28
RT @SeekingAlpha: The Spread Between Stock Prices And GDP Is Blowing Out http://t.co/LgYoi1xbhH $SPY $DIA $QQQ $IWM $UUP $TLT
compx
21 Apr 15 05:25:21
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EMini Futures
21 Apr 15 05:25:13
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Diana Vergara
21 Apr 15 05:24:55
RT @YahooFinance: Something is missing from stock market analysis http://t.co/mAhNvtmnX2 via @harmongreg $SPY http://t.co/Vvq1QkI4eU
Emini Scalping
21 Apr 15 05:24:41
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CandidBanter
21 Apr 15 05:24:05
Wow-#Asia really up overnight on that stimulus stuff--see how far it carries over--#stocks #trading #money $SPY $QQQ http://t.co/EXkUDFGw9s
Winborn Traders
21 Apr 15 05:24:02
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Mac Stayer
21 Apr 15 05:23:27
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Winborn Traders
21 Apr 15 05:22:42
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Victor Hattingh
21 Apr 15 05:22:36
RT @YahooFinance: Choppy April trading gives way to solid month-end gains http://t.co/G30CBg1pfO via @AlmanacTrader $SPY http://t.co/cZS7mb…
Ben Silverberg
21 Apr 15 05:22:30
Nice if we got an Inside Day/continued sideways consolidation as a prelude to next leg up. $SPX $SPY
rich!
21 Apr 15 05:22:27
come on... 212 to get the party started this week. $SPY chart https://t.co/dekQurY4JM via http://t.co/2uPjopoCqF
Jacob Wolinsky
21 Apr 15 05:22:19
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EMini Futures
21 Apr 15 05:22:04
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Winborn Traders
21 Apr 15 05:21:27
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Andreaxx
21 Apr 15 05:20:38
RT @YahooFinance: Choppy April trading gives way to solid month-end gains http://t.co/G30CBg1pfO via @AlmanacTrader $SPY http://t.co/cZS7mb…
mercy
21 Apr 15 05:20:07
RT @SeekingAlpha: The Spread Between Stock Prices And GDP Is Blowing Out http://t.co/LgYoi1xbhH $SPY $DIA $QQQ $IWM $UUP $TLT
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21 Apr 15 05:19:33
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Steve Provost
21 Apr 15 05:19:25
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KAVEH ILKHANIPOUR
21 Apr 15 05:19:09
RT @jfahmy: A Market Scenario that Frustrates the Most People: http://t.co/UTcWHcISXP $SPY $QQQ $IWM
Chess
21 Apr 15 05:18:54
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21 Apr 15 05:18:32
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Steelblues11
21 Apr 15 05:18:27
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Winborn Traders
21 Apr 15 05:18:01
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Steve Wakelin
21 Apr 15 05:18:01
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Live Wealth Network
21 Apr 15 05:17:46
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r buyer
21 Apr 15 05:17:16
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Chart Lab Pro
21 Apr 15 05:17:05
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21 Apr 15 05:16:48
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21 Apr 15 05:16:35
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_JamisonG_
21 Apr 15 05:16:19
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Quantpost $QQQ
21 Apr 15 05:16:04
$QQQ News: "The Spread Between Stock Prices And GDP Is Blowing Out $SPY $DIA …" http://t.co/jMYMznnQDk Analyze: https://t.co/wAym7YaBDy
Quantpost $IWM
21 Apr 15 05:16:04
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Seeking Alpha
21 Apr 15 05:16:01
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Adam Grimes
21 Apr 15 05:15:47
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21 Apr 15 05:14:18
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21 Apr 15 05:13:53
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Jorch
21 Apr 15 05:13:28
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Sterling M Holmes
21 Apr 15 05:13:20
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Sterling M Holmes
21 Apr 15 05:13:20
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ppa
21 Apr 15 05:13:00
RT @YahooFinance: Choppy April trading gives way to solid month-end gains http://t.co/G30CBg1pfO via @AlmanacTrader $SPY http://t.co/cZS7mb…
James DiPlata
21 Apr 15 05:12:35
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21 Apr 15 05:12:33
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By  +Follow October 16, 2013 8:45AM
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