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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
Peter Manning
1 Nov 14 02:39:32
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Taylor
1 Nov 14 02:38:44
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Taylor
1 Nov 14 02:37:50
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Chase Lohr
1 Nov 14 02:37:45
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Wisniewski,ZsaZsa
1 Nov 14 02:36:42
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Clay
1 Nov 14 02:36:22
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Wisniewski,ZsaZsa
1 Nov 14 02:36:15
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
obinna uzoma Nwogu
1 Nov 14 02:35:33
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Clay
1 Nov 14 02:35:28
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Christian Tharp, CMT
1 Nov 14 02:35:01
RT @AlmanacTrader: Blog Post: Market at a Glance & Bonus Midterm Election Video Clip $DIA $SPY $QQQ http://t.co/VP4M9bM32d
obinna uzoma Nwogu
1 Nov 14 02:34:29
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Adam
1 Nov 14 02:33:50
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Adam
1 Nov 14 02:32:56
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
The Carroll News
1 Nov 14 02:32:41
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Xcelutions
1 Nov 14 02:31:42
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
The Carroll News
1 Nov 14 02:31:39
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
HFMD
1 Nov 14 02:31:32
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Xcelutions
1 Nov 14 02:30:44
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
HFMD
1 Nov 14 02:30:25
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Donald
1 Nov 14 02:29:54
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
David
1 Nov 14 02:29:05
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Donald
1 Nov 14 02:28:59
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Lauren Collie
1 Nov 14 02:28:19
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
David
1 Nov 14 02:28:14
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Lauren Collie
1 Nov 14 02:27:48
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Maleah
1 Nov 14 02:27:33
http://t.co/GiMIvdu1Jf <--- Amazing subscriber to Super_Trades - check out his profit chart!!! $CREE $AWRE $SPY $HLX $RGLS
John Joaquin
1 Nov 14 02:27:23
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
John Joaquin
1 Nov 14 02:26:34
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Tara
1 Nov 14 02:26:27
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Jeff Covell
1 Nov 14 02:24:29
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Zach Klonne
1 Nov 14 02:24:09
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Jeff Covell
1 Nov 14 02:23:31
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Will Olobatuyi
1 Nov 14 02:23:06
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Zach Klonne
1 Nov 14 02:22:54
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
stockblaster14
1 Nov 14 02:22:32
SPDR S&P 500 ETF (SPY) 201.66 $SPY 'Fast Money' Recap: A Strong Finish for October but Rally Not Done at The S http://t.co/zxiWkwGBND
Will Olobatuyi
1 Nov 14 02:22:05
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Milenko
1 Nov 14 02:21:53
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Milenko
1 Nov 14 02:21:04
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Tim W
1 Nov 14 02:20:20
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Kevin Christopher
1 Nov 14 02:20:14
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Kevin Christopher
1 Nov 14 02:19:34
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Tim W
1 Nov 14 02:19:24
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Erica
1 Nov 14 02:17:50
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Katie
1 Nov 14 02:17:27
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Erica
1 Nov 14 02:17:02
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Katie
1 Nov 14 02:16:18
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
LunaticTrader
1 Nov 14 02:13:57
Weekly key reversal levels 30 Dow stocks. 6 stocks = buy. 18 stocks bullish. $DIA $SPY http://t.co/uyUbK7V6Ep
Florence
1 Nov 14 02:10:23
RT @philstockworld: WTF? Futures Flying and Dollar Rising on BOJ's 80 TRILLION Yen Boost $SLW $USO $SPY $EWJ -- http://t.co/RjS6KZhKzM htt…
Florence
1 Nov 14 02:09:25
RT @philstockworld: Bad German Retail Sales Gives Us a Futures Shorting Opportunity $IWM $SPY $QQQ $DIA #FuturesTrading -- http://t.co/Jj43…
Auto Binary option
1 Nov 14 02:07:59
RT @moiselevi: $SPX $SPY SP 500 chart updated with trading signals and comments, http://t.co/rv4tsk2agf
				
				
By  +Follow October 16, 2013 8:45AM
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