Daily ETF Roundup: Stocks In Red With No Deal In Sight

The shortened holiday trading week proved to be quite unkind for many who had hoped that a fiscal cliff deal would be reached by now. Bearish pressures reigned supreme as gridlock in Washington D.C. encouraged profit taking ahead of the new year given the uncertain tax environment that 2013 holds in store. There is still lingering hope thatpolicymakerswill reach an agreement before the deadline, however, a Hail Mary resolution seems quite unlikely given the lack of negotiations seen thus far .

Global Market Overview: Stocks In Red With No Deal In Sight

Looming fiscal cliff drama took its toll on Wall Street, sinking major equity indexes into redterritoryahead of the weekend. The Dow Jones ETF led the way lower with a 1.17% loss on the day, while the Nasdaq ETF proved most resilient shedding just under one percentage point.

On the international front, China's market was the only one to end the week on a positive note; however, next week's manufacturing data could once again spoil optimisticsentimentbuilding overseas.

Bond ETF Roundup