ETFs traded mostly higher all day Tuesday but finished in the red as the “fiscal cliff” sends shudders through global markets.
U.S. ETFs and stocks spent most of the day in the green as Home Depot (HD) beat expectations and climbed 3.63% for the day, however, the good news couldn’t offset a 3% plunge in Microsoft as its head of Windows headed for the door. Home Depot Gives Stock Market A Boost
All major U.S. indexes and index ETFs finished in the red today with the Nasdaq 100 (NYSEARCA:QQQ) taking the largest hit on the news from Microsoft regarding the President of Window, Steven Sinofsky, leaving the company.
The tech sector (NYSEARCA:XLK) declined 0.48% during the day and continued making news after hours as Cisco climbed 7% and AMD declined 2.4% on earnings news.
In Europe, nerves remain on edge as the Union continues to delay releasing the next round of bailout money to Greece. Germany Demonstrates Vulnerability Of European Core
But the dominant issue remains the fiscal cliff and meetings are scheduled to get underway this week at the White House in hope of finding some resolution to this problem. While no one believes the dive off the cliff will happen, Congressional leaders and the President seem to remain at odds and digging into incompatible positions.
U.S. Index ETFs
Dow Jones Industrial Average (NYSEARCA:DIA) -0.46%
S&P 500 (NYSEARCA:SPY) -0.40%
Nasdaq 100 (NYSEARCA:QQQ) -0.80%