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Index ETFs Slip Back Into Red

By jnyaradi
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Courtesy of John Nyaradi.

Index ETFs sunk deeper today as fiscal cliff negotiations drag into the weekend

red arrow, index ETFs, fiscal cliff, initial unemployment claimsIndex ETFs sunk again today after fiscal cliff negotiations stalled again into the weekend.  The SPDR S&P 500 ETF (NYSEARCA:SPY) lost .37%, the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) lost .27%, the NASDAQ ETF (NYSEARCA:QQQ) lost .95%, and the iShares Russell 2000 Index ETF (NYSEARCA:IWM) lost .06%.

Index ETFs likely lost more today because of stalled fiscal cliff negotiations. With Congress planning to work overtime over the weekend, 17 days remain until the US falls off the cliff come January.  The NASDAQ also likely declined 1% today because of Apple’s (NASDAQ:AAPL) 4.3% decline and correction.

Industrial production jumped in November, and China’s PMI for December showed improvements.

Bottom Line: With the Holidays and Fiscal Cliff rapidly approaching, many are wondering if the Santa Claus rally will fly this year or not.

Click here to learn more about John’s book and for a free membership to Wall Street Sector Selector

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