## [# SPY Gains, VIXY Slides to End Volatile Week](/sections/news/broad-market-semiconductors-struggle-crypto-and-pharmaceuticals-rise)
# SPY Gains, VIXY Slides to End Volatile Week
Market continues to rebound as volatility falls; gaming ETFs show mixed results.
- • News
2 Updates
[  ](/authors/dj-shaw)
Fri, August 9, 2024 At 4:15 PM EDT
[DJ Shaw ](/authors/dj-shaw) | Finance Reporter | [ Follow Author ](/etf/login)
## Media ETFs Rise on Paramount News, SPY Gains
The [**Invesco S&P 500 Equal Weight Communication Services ETF (RSPC)**](/rspc) rose 0.7% and [**Invesco Dynamic Leisure and Entertainment ETF (PEJ)** ](/pej)gained 0.6% following Paramount Global’s announcement of workforce cuts and better-than-expected quarterly earnings. Paramount’s stock climbed nearly 3% despite missing revenue forecasts.
Gaming ETFs showed mixed performance after Take-Two Interactive Software reiterated its full-year bookings and earnings guidance. [**Roundhill Video Games ETF (NERD)** ](/nerd)rose 0.8%, while [**Global X Video Games & Esports ETF (HERO)**](/hero) dipped 0.5%.
The broader market continued its recovery from Monday’s selloff, with the [**SPDR S&P 500 ETF Trust (SPY)**](/spy) trading 0.4% higher. The S&P 500 index inched upward, nearing a reversal of its weekly decline.
Volatility declined, as evidenced by the 13% drop in the [**ProShares VIX Short-Term Futures ETF (VIXY)**](/vixy), which surged during Monday’s volatile session.
[](/vixy)
[  ](/authors/kristin-myers)
Fri, August 9, 2024 At 11:10 AM EDT
[Kristin Myers ](/authors/kristin-myers) | SVP Content/EIC | [ Follow Author ](/etf/login)
## Semiconductor ETFs Sink, Healthcare and Crypto Gain.
Markets struggled Friday to finish the week higher after a volatile rollercoaster ride that began with a global selloff triggered by recession fears.
SPY, the [**SPDR S&P 500 ETF Trust**](/SPY) reversed early declines and was 0.2% higher in midmorning trading. DIA, the [**SPDR Dow Jones Industrial Average ETF Trust**](/DIA) and QQQ, the [**Invesco QQQ Trust**](/QQQ) also changed direction to eke out small gains.
While losses were found all around the market, some of the biggest losers were leveraged ETFs covering the semiconductor/AI trade, according to etf.com data,
AMDL, the [**GraniteShares 2x Long AMD Daily ETF**](/AMDL) sank 4.1% while AIBD, the [**Direxion Daily AI And Big Data Bear 2X Shares**](/AIBD) dropped nearly 8%. SOXL, the [**Direxion Daily Semiconductor Bull 3X Shares**](/SOXL) dropped by roughly 2.5%
Broad semiconductor ETFs SHOC and SOXX, the [**Strive U.S. Semiconductor ETF**](/SHOC) and [**iShares Semiconductor ETF**](/SOXX) climbed from their lows, while still being down around 1%.
## Eli Lilly Earnings Still Boosting Healthcare
A blowout earnings report from pharmaceutical company [Eli Lilly](/stock/lly) continued to provide support for healthcare ETFs, some of Friday's biggest winners. LLYX, the [**Defiance Daily Target 2X Long LLY ETF**](/LLYX) jumped 13% as investors turned their attention away from tech and into healthcare on blockbuster sales of drugs for weight loss.
[](/llyx)XLV, the [**Health Care Select Sector SPDR Fund**](/XLV) inched 0.6% higher, boosted by a more than 11% allocation to Eli Lilly. OZEM, the [**Roundhill GLP-1 And Weight Loss ETF**](/OZEM) jumped 2.5% as other pharmaceutical companies manufacturing drugs consumers use for weight loss benefited.
IHE, the [**IShares U.S. Pharmaceuticals ETF**](/IHE) notched a 1.4% gain in trading Friday.
The [**iShares Bitcoin Trust (IBIT)**](/ibit) added 1.3%
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