ETF Trends
ETF Trends

Stock exchange traded funds basked in a more than 100-point rally in the Dow on Tuesday but after hours the focus shifted to the vote in Greece and disappointing earnings from Adobe (NasdaqGS: ADBE).

Adobe shares slipped in after hours trading Tuesday following the technology firm’s fiscal second-quarter earnings report. Quarterly profit rose from the year-ago period but missed Wall Street expectations after items.

Investors closely watched developments in Greece Tuesday evening as Prime Minister George Papandreou faces a vote of confidence. European leaders are putting pressure on the country to pass further austerity measures.

Adding to the drama this week is the Federal Reserve’s two-day meeting that wraps up with the Fed statement Wednesday afternoon and press conference with Ben Bernanke.

Volatility-linked ETFs pulled back Tuesday as stocks jumped, but some analysts say the CBOE Volatility Index, or VIX, may be lowballing market fear. [Are VIX ETFs Understating Market Risks?]

SPDR S&P 500 ETF (NYSEArca: SPY)

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.