CBOE VIX Volatility Index reverse gains in afternoon trading.
The CBOE VIX (NYSEARCA:VXX) reversed all of its gains on Friday, as stocks quickly bounced off session lows amid fears of an escalating trade war between the United States and China.
The Chicago Board Options Exchange (CBOE) Volatility Index reached a session high of 17.63. That would have marked the highest settlement in over a week. However, the so-called “fear index” would later give up most of its gains to settle at 16.03, where it was down 2.1%.
In stocks, the large-cap S&P 500 Index (NYSEARCA:SPY) finished with a gain of 0.1%.
Major VIX ETFs:
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 0.6%.
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 1.9%.
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 2.3%.
The Final Word: Stocks are currently mired in their worst losing streak of the year. Gains could be difficult to justify now that earnings season is drawing to an end and attention has returned to U.S.-China trade talks.