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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
TheStreetOptions
31 Jan 15 13:01:22
Trading vs. Investing - $spy Please #RT http://t.co/jyVZbcKGH3
Fractalert
31 Jan 15 13:01:18
Confidently trade $SPY http://t.co/O3ct0Rp0oo
Shwetal Patel
31 Jan 15 13:01:17
At this point oil volatility can be + or - for mkt as we saw on friday. Watching for a + follow-thru 4 USO this week $USO $SPY $SPX @cnbc
Ben trader
31 Jan 15 13:01:16
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
sabaranis
31 Jan 15 13:00:48
RT @WallStJesus: RT @StockTwits: This chart from @_SeanDavid shows what happened Friday. Oil jumped. Stocks dropped. $USO $SPY http://t.co/…
$teph
31 Jan 15 13:00:18
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
The LincolnList
31 Jan 15 13:00:06
Just posted a new video " When Does The Dip Become A Rip" http://t.co/G1IXXJ475W $SPY
J. Clayton Jenkins
31 Jan 15 12:59:48
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Quasar
31 Jan 15 12:58:29
RT @StockTwits: This chart from @_SeanDavid shows what happened Friday. Oil jumped. Stocks dropped. http://t.co/voJFDO2jBu $USO $SPY http:/…
MANDRADE™
31 Jan 15 12:58:19
RT @CAMAR024: in next week $SPY 200x calls
Stu
31 Jan 15 12:57:34
RT @Fractalerts: New $SPY alerts have recently been posted. Check them out now. http://t.co/G8gBFT2mQm
Capital EdgeNY
31 Jan 15 12:57:02
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Brad Moseley
31 Jan 15 12:55:45
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Random Trader
31 Jan 15 12:55:30
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Don McNeill
31 Jan 15 12:54:15
#ES_F Advance Decline $SPY $RUT $COMPQ $VIX $GLD $SLV $OIL $USDX $SPX Weekly Charts. Indices / ROC weaker / falling. http://t.co/YFxc0PZXfv
Eden
31 Jan 15 12:54:02
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Don McNeill
31 Jan 15 12:53:46
#ES_F Advance Decline $SPY $RUT $COMPQ $VIX $GLD $SLV $OIL $USDX $SPX test Up Channel. AD-Vol breaks. A/D still Pos. http://t.co/yPksiG9oWy
Carolyn B Miciano
31 Jan 15 12:53:35
Free ebook on rookie Options mistakes http://t.co/vJaEdoEDmm $SPY $QQQ $IWM
Wareham
31 Jan 15 12:52:50
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Charles Sturges
31 Jan 15 12:52:39
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
김봉준
31 Jan 15 12:51:54
RT @StockTwits: This chart from @_SeanDavid shows what happened Friday. Oil jumped. Stocks dropped. http://t.co/voJFDO2jBu $USO $SPY http:/…
Options Trader
31 Jan 15 12:48:36
Options: Wall Street Gimmick or Moneymaking Investing Tool?: Source Chicago Board Options Exch... http://t.co/6gtz2NrjSc $SPY $QQQ $IWM
Bion Blitz
31 Jan 15 12:46:35
#MarketProjections $QQQ - new situation, uncertain $SPY - uncertain
Michel Jacquemai
31 Jan 15 12:46:34
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Robin Murray MD CFII
31 Jan 15 12:45:56
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
FXA_Fractalerts
31 Jan 15 12:45:38
New $SPY alerts have recently been posted. Check them out now. http://t.co/65AABWLd9l
Felipe Encinas
31 Jan 15 12:45:06
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Ro Herrera Segura
31 Jan 15 12:44:53
RT @MktOutperform: The increasing intraday vol we've been experiencing typically leads to a deeper pullback than the current 4%. $SPY http:…
Joe
31 Jan 15 12:43:37
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Pseudo-panspermia
31 Jan 15 12:42:40
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
NoanetTrader
31 Jan 15 12:41:18
Hard not to love "The Fat Pitch." One of my favorite weekend reads: http://t.co/73JuNRH9nH $SPY $QQQ $VIX
OM_giveaways
31 Jan 15 12:41:07
Top 5 Stocks of 2015 Free HD Video!!!! $GOOGL $AAPL $TSLA $SSYS $VXX $VIX $SPY $SPX #stocks http://t.co/vG4ZFnz7JJ http://t.co/4IxPPUjORG
CaliTrades
31 Jan 15 12:41:01
RT @StockTwits: This chart from @_SeanDavid shows what happened Friday. Oil jumped. Stocks dropped. http://t.co/voJFDO2jBu $USO $SPY http:/…
OptionsGenius
31 Jan 15 12:40:36
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Doug Aldridge
31 Jan 15 12:40:30
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Mike Valletutti, CTA
31 Jan 15 12:40:28
RT @MktOutperform: The increasing intraday vol we've been experiencing typically leads to a deeper pullback than the current 4%. $SPY http:…
Xander
31 Jan 15 12:39:52
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
TradingWala
31 Jan 15 12:39:36
if #grexit hapens, its bad 4 #eurusd as others r lined up 4d same fate & thereby threatenin d very existence of #euro! #es_f $es_f #spx $spy
Investing Insight
31 Jan 15 12:39:21
StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/8C0NRWDegO $SPY $SPX http://t.co/rzume7lt2T
Cameron Wilson
31 Jan 15 12:39:00
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Paul Klaasse
31 Jan 15 12:38:09
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Woll Street
31 Jan 15 12:37:59
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Chris, CFA
31 Jan 15 12:37:24
RT @MktOutperform: The increasing intraday vol we've been experiencing typically leads to a deeper pullback than the current 4%. $SPY http:…
Major Al-Fayeed♫
31 Jan 15 12:37:16
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
Michael A. Gayed,CFA
31 Jan 15 12:36:59
RT @MktOutperform: The increasing intraday vol we've been experiencing typically leads to a deeper pullback than the current 4%. $SPY http:…
budfoxhub
31 Jan 15 12:36:56
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
OptionsGenius
31 Jan 15 12:36:51
Website Updated: http://t.co/kHNLEohKlH Amazing Accuracy!! $SPY $FB $V $MA
Grant Gilligan
31 Jan 15 12:36:48
RT @StockTwits: The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDw…
StockTwits
31 Jan 15 12:36:25
The notes on this chart paint an extremely gloomy outlook for stocks. http://t.co/PBk7BXyCPg $SPY $SPX http://t.co/FaN9dGDwBk
Eduardo Anton
31 Jan 15 12:36:04
RT @MktOutperform: The increasing intraday vol we've been experiencing typically leads to a deeper pullback than the current 4%. $SPY http:…
				
				
By  +Follow October 16, 2013 8:45AM
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