Thursday afternoon’s release of the FOMC minutes from the December meeting spooked investors about the future of quantitative easing. Thursday’s trading session took an abrupt turn southbound after the 2:00 release of the FOMC minutes , which provided investors with an inside look at the December 11-12 meeting of the Federal Reserve’s Federal Open Market Committee. Stocks advanced slowly on Thursday morning, as investors were busy taking profits from Wednesday’s huge gains.  The ADP National Employment Report for December beat expectations with 215,000 new jobs added during the month (compared with the anticipated 150,000).  Unfortunately, the Department of Labor’s  weekly report on initial unemployment claims indicated an upsurge of 372,000 new claims – which was 9,000 higher than the 363,000 claims which were expected. Stocks slowly climbed into positive territory by mid-day, although the 2:00 release of the FOMC minutes scared investors off to the sidelines out of fear that the Fed’s bond buying (i.e. quantitative easing) program would come to an end.  The FOMC minutes revealed that several members “thought that it would probably be appropriate to slow or to stop purchases well before the end of 2013, citing concerns about financial stability or the size of the balance sheet.”  Nevertheless, the Fed went ahead with QE 4 and as the minutes indicated, current financial conditions have not improved to the degree that Fed accommodation is no longer necessary.  Beyond that, the Fed noted that the fiscal situation would likely tighten during 2013. As of 1:58 EST, the Dow Jones Industrial Average advanced 14 points (0.11 percent) to 13,427.  The S&P 500 Index rose 0.18 percent to 1,465 (NYSEARCA:SPY) before later falling back to 1,460.  As the chart (at left) indicates, the S&P 500 briefly reached its previous resistance level – its September 14 high of 1,465.  Its Relative Strength Index has bounced back up to 63  (Chart courtesy of  Stockcharts.com ).  The Nasdaq Composite crept upward by 0.03 percent to 3,113 (NASDAQ:QQQ).  The Russell 2000 Index advanced 0.51 percent to 877 (NYSEARCA:IWM).   Thrilling Thursday- What Does the Russell 2000 at An All-Time High Tell Us? The “Dollar Bull” Index ETF (NYSEARCA:UUP) advanced 10 cents (0.46 percent) to 21.91 as of 1:52 EST. As of 1:38 EST, the S&P 500 Volatility Index – or VIX – dropped 2.86 percent to 14.26 and the VIX Short-Term Futures ETN declined 1.42 percent to 27.65 (NYSEARCA:VXX). The Euro STOXX 50 Index finished Thursday’s session with a 0.37 percent decline to 2,701.  The STOXX 50 is staying well above its 50-day moving average of 2,559 and holding above its March 19 high of 2,608.  Its Relative Strength Index is now 72.76 – which is considered by many as a signal that the market is overbought (NYSEARCA:FEZ).  The FTSE 100 Index advanced 0.33 percent to 6,047 (NYSEARCA:EWU).  The German DAX Index declined 0.29 percent to 7,756 (NYSEARCA:EWG).  France’s CAC 40 Index fell 0.34 percent to 3,721 (NYSEARCA:EWQ).  Spain’s IBEX 35 Index dropped 0.52 percent to 8,403 (NYSEARCA:EWP).  Italy’s FTSE MIB Index advanced 0.10 percent to 16,909 (NYSEARCA:EWI).   Global ETFs for the January Effect As of 1:41 EST, the euro declined 0.59 percent against the dollar, trading at $1.3109 (NYSEARCA:FXE). On London’s ICE Futures Europe Exchange, February futures for Brent crude oil declined by 13 cents (0.12 percent) to $112.346/bbl. (NYSEARCA:BNO, NYSEARCA:USO). February Gold futures declined by $14.40 (0.85 percent) to $1,674.4 per ounce (NYSEARCA:GLD).   Gold ETFs Make 2012 Another Positive Year ETF Summary:  SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA)  -0.07%   as investors take profits after Wednesday’s big gains out of fear that the December FOMC minutes signal an end to the Fed’s bond-buying. SPDR EURO STOXX 50 ETF (NYSEARCA: FEZ )  -1.26%  making a more exaggerated decline than the Euro STOXX 50 Index (which fell 0.37 percent). Market Vectors Retail ETF (NYSEARCA:RTH)  +0.18%  following the upbeat ADP National Employment Report for December. iShares Barclays 20+ Year Treasury Bond Fund (NYSEARCA:TLT)  -0.89%  after the FOMC minutes raised fears about an end to the Fed’s bond-buying.  Learn More About iShares ETFs . SPDR S&P 500 INDEX ETF (NYSEARCA:SPY)  -0.18%  retreating from the day’s earlier gains as investors react to the FOMC minutes. Bottom line:  After a morning of profit-taking and some modest mid-day gains, the FOMC minutes sent investors running for the exits out of fear that the Fed’s bond-buying days might be reaching an end. Sign up for Wall Street Sector Selector’s FREE Stock Market Timing Indicator!    Disclaimer: The content included herein is for educational and informational purposes only, and readers agree to Wall Street Sector Selector’s Disclaimer , Terms of Service , and Privacy Policy before accessing or using this or any other publication by Wall Street Sector Selector or Ridgeline Media Group, LLC.