Stock exchange traded funds were little changed in early trading Wednesday as investors awaited the Federal Reserve’s statement on interest rates and the economy.
In earnings news, Adobe (NasdaqGS: ADBE) fell 5% while FedEx (NYSE: FDX) gained 3% after the companies released quarterly results.
European stock ETFs were lower Wednesday after Greek Prime Minister George Papandreou survived a vote of confidence. An ETF tracking Germany weakened as the vote shifts the focus back to Germany and the European Central Bank. [Germany ETF Falls]
U.S. small-cap ETFs were flat Wednesday along with the broader market. The sector ETFs recently bounced at a key technical level. [Will Small-Cap ETFs Hold at 200-Day Average?]
In currency markets, the euro was steady against the dollar as investors awaited the Fed and the press conference with Ben Bernanke. [Euro ETFs Quiet After Greek Vote]
In new product launches, Pimco has introduced an ETF that targets corporate “junk” bonds with shorter maturities. [New Pimco ETF]
Coal ETFs on Wednesday continued their strong performance this week in commodity-themed funds. [Coal ETF Rises After Goldman Sachs Sector Upgrade]
Market Vectors Coal (NYSEArca: KOL)
