CBOE VIX Volatility Index trades within a narrow range as Apple unveils new iPhone lineup.
The CBOE VIX (NYSEARCA:VXX) edged slightly lower on Wednesday, as investors turned their attention to the launch of the latest Apple products.
The Chicago Board Options Exchange (CBOE) Volatility Index closed at 12.98, where it declined 1.9% from the previous close. VIX has been tracking lower in recent days as calm returned to Wall Street following the post-Labor Day slump.
In stocks, the S&P 500 Index (NYSEARCA:SPY) finished flat on Wednesday.
Major VIX ETFs:
iPath S&P 500 VIX Short Term Futures ETN: (NYSEARCA:VXX) Designed to offer exposure to the S&P 500 VIX Short Term Futures Index Total Return. The Index uses CBOE Volatility Index futures by way of a long position in the first and second month VIX Futures contracts. VXX declined 1.3%.
ProShares Short VIX Short-Term Futures (SVXY) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. SVXY advanced 0.5%.
ProShares Ultra Short Term VIX Futures: (NYSEARCA:UVXY) UVXY is designed to deliver 2X (leveraged) returns of the day’s moves in the S&P 500 VIX Short Term Futures Index. It tacks the two front months of the futures contract. UVXY declined 1.8%.
VelocityShares Daily 2x VIX Short Term Futures ETN (NYSEARCA:TVIX) TVIX is a leveraged VIX ETN designed to deliver 2X the returns of the daily S&P 500 Short Term Futures Index. TVIX declined 2.5%.
The Final Word: Economic data and monetary policy will dominate the headlines in the latter half of the week. The Federal Reserve will hold its next policy meeting next Tuesday and Wednesday, where officials are expected to raise interest rates for the third time this year.