In case you missed it, here’s a summary of the ETF topics and market reviews I posted to my blog during the week ending on 12/23/2012.
Anxiety about the fiscal cliff outcome was overridden by continued hope that a compromise would be in the cards which lifted the S&P 500 by about 1%.
Friday’s sell off brought back the sobering reality that ‘compromise’ is a dirty word as nothing was accomplished on Thursday night with the result that the markets headed south but not as severely as it originally appeared. I happened to be watching the futures and saw a flash crash take the Dow briefly down by 350 points while the S&P 500 dropped about 40 points.
By Friday morning things had calmed down a bit and helping the indexes later on were well timed news reports that the warring parties were still engaged in conversations. So, hope is still on the agenda, and the drama will continue for the remainder of this year.
Over past week, we covered the following: