Volatility-linked ETFs greeted February with another backslide while in U.S. stocks the Dow Jones Industrial Average rose above 14,000 for the first time since 2007.
The iPath S&P 500 VIX Short Term Futures ETN (NYSEArca: VXX) was down 6% in afternoon trading Friday and on track for a slightly weekly decline.
Other volatility ETFs include VelocityShares VIX Short-Term ETN (NYSEArca: VIIX), VelocityShares Daily 2x VIX Short-Term ETN (NYSEArca: TVIX), ProShares Ultra VIX Short-Term Futures (NYSEArca: UVXY) and ProShares VIX Short-Term Futures ETF (NYSEArca: VIXY).
Meanwhile, the Dow was set for its fifth straight weekly gain with a 0.8% advance for the past five sessions. The S&P 500 was poised for a 0.7% weekly gain in afternoon dealings Friday, while the Nasdaq Composite climbed 1%.
The Dow was up nearly 150 points on Friday despite a weaker-than-expected January employment report.