Courtesy of John Nyaradi.
Index ETFs finished mixed and flat today after a positive but slow Turkey week last week
Index ETFs finished mixed and flat today, as the SPDR S&P 500 ETF (NYSEARCA:SPY) lost .21%, the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) lost .28%, the PowerShares QQQ Trust Series 1 ETF (NASDAQ:QQQ) gained .43%, and the iShares Russell 2000 Index ETF (NYSEARCA:IWM) gained .32%.
Investors likely stepped to the sidelines because of the renewed the fiscal cliff discussions today. With 35 days left until the United States falls off the fiscal cliff, investors are likely idling and waiting for more news to surface. EU Finance Ministers also resumed talks about Greece today, and talks about Greece always seem to scare investors too.
To round off the economic doom and flat gloom for the day, the Chicago Federal Reserve’s National Economic Activity Index revealed that Hurricane Sandy slowed the economy in October which should not come to a surprise to anyone, considering the scope of Sandy.
Bottom Line: Index ETFs finished mixed and flat today after an up week last week. With fiscal cliff fears and renewed Greece jitters, markets may have a few headwinds to face yet.
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