ETF Trends
ETF Trends

U.S. stock exchange traded funds were poised for a lower open Monday as European governments pushed back a decision to provide a financial lifeline to Greece.

Dow futures slipped about 50 points in premarket trade while SPDR S&P 500 ETF (NYSEArca: SPY) shed 0.4%.

Also before the bell, ETFs that invest in European equities posted sharper declines with investors fixated on a confidence vote in George Papandreou, Greece’s prime minister. The government is trying to push through unpopular austerity measures. [Europe ETFs Fall as Spotlight Stays on Greece]

The dollar strengthened against the euro on Monday morning, another sign the so-called risk-off trade. PowerShares DB US Dollar Bullish (NYSEArca: UUP) rose fractionally in premarket. [Dollar, Euro ETFs Back for Technical Test]

ETFs that profit from gains in Wall Street’s “fear gauge” also rose after rallying last week. The iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX) climbed about 2% in Monday’s premarket. The exchange traded note follows futures based on the CBOE Volatility Index. [ETF Options Traders Position for Volatility, Weak Euro]

PowerShares DB US Dollar Bullish

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.