Spain Flattens Stocks?

Courtesy of John Nyaradi.

Stocks, ETFs finish flat and mixed after Spain announces participation in bond buying program

Stocks and ETFs finished mixed today: the SPDR S&P 500 ETF (NYSEARCA:SPY) rose .11%, the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) lost .22%, the PowerShares QQQ Series 1 Trust ETF (NASDAQ:QQQ) rose .29%, and the iShares Russell 2000 Index ETF (NYSEARCA:IWM) gained .19%.

Spain again seemed to be the center of attention today, as the debt stricken nation announced plans apply to participate in the ECB’s bond buying program next week.  Equities seemed to shrug at the idea however, judging by today’s slow, flat markets.  All in all, investors seem to be idling along, waiting for a “make it or break it” moment both in Europe and at home.  With what pomp and circumstance the ECB’s Mario Draghis and the Fed’s Dr. Bernanke words brought to markets, it appears that investors are still waiting for a “final” outcome to central bank policy, slow economies, and insurmountable piles of debt.

Speaking about slow economies, today’s Core Logic Home Price Report indicated a 4.6% increase in home prices nationwide.  Sounds good to me, except for the fact that the 4.6% increase in home prices is likely a large bounce off of rock bottom prices to begin with.

Bottom Line: Stocks and ETFs finished mixed and flat today after news from Spain failed to generate any enthusiasm.  All in all, investors appear to be waiting for what is next.

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