Stock Market Slumps, Volatility Spikes Following Better-than-Expected Retail Sales: This Fund Offers 1.5X Returns
Portfolio Pulse from Melanie Schaffer
The SPDR S&P 500 (NYSE:SPY) fell about 0.8% during Tuesday’s trading session, while the CBOE Volatility Index (CBOE: VIX) spiked over 8% amid a retail-heavy earnings week. ConvexityShares Daily 1.5x SPIKES Futures ETF (NYSE:SPKY) was trading about 6% higher, tracking the SPIKES Futures Short-Term Index similarly to ProShares Ultra VIX Short Term Futures ETF (NYSE:UVXY). SPKY is a short-term trading vehicle and shouldn't be held for long periods.
August 15, 2023 | 3:50 pm
News sentiment analysis
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NEGATIVE IMPACT
SPY fell about 0.8% during Tuesday’s trading session amid a retail-heavy earnings week.
The fall in SPY's price is likely due to the market's reaction to the retail-heavy earnings week. This could indicate a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
UVXY tracks the movement of the S&P 500 VIX Short-Term Futures Index, similar to SPKY.
UVXY is mentioned as a comparison to SPKY in terms of their tracking indices. There's no specific news about UVXY that would impact its price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
SPKY was trading about 6% higher, tracking the SPIKES Futures Short-Term Index. It is a short-term trading vehicle and shouldn't be held for long periods.
The increase in SPKY's price is likely due to its tracking of the SPIKES Futures Short-Term Index. As a short-term trading vehicle, this could indicate a positive short-term impact on the ETF.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
VIX spiked over 8% amid a retail-heavy earnings week.
The spike in VIX indicates increased market volatility, which is typically associated with uncertainty or risk. This could indicate a positive short-term impact on the index.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80