CBOE VIX Volatility Index falls for the first time in seven days.
The CBOE VIX (NYSEARCA:VXX) fell on Tuesday, snapping a six-day winning streak as stocks struggled for gains amid ongoing debate over tax reform.
The Chicago Board Options Exchange (CBOE) Volatility Index declined 3% to close at 11.33, on a scale of 1-100 where 20 represents the historic mean. The volatility gauge touched a session low of 10.65 before recovering later in the day.
The large-cap S&P 500 Index (NYSEARCA:SPY) closed down 0.4% on Tuesday.
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 0.4%.
VelocityShares Daily Inverse VIX Short Term Futures ETN: (NYSEARCA:XIV) to track the inverse daily performance of the S&P 500 VIX Short Term Futures Index. XIV 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 0.9%.
VelocityShares Daily Short Term VIX 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 0.8%.
The Final Word: Market action could pick up later this week as investors sift through the latest debate on tax reform while keeping track of the economic data. Nonfarm payrolls are set to be released Friday morning.