Daily ETF Roundup: UNG Surges On Weather, IYZ Tumbles On Increased Competition

After a weak session in Monday trading, American equity markets managed to march higher today as investors scooped up shares on solid earnings in the industrial sector and hope for a resolution in the European debt crisis. Both the Dow and Nasdaq rose by 0.3% on the day while the S&P 500 managed to edge higher by 0.4%. It was also another solid day for commodities as softs continued to outperform and oil-based commodities surged thanks to the release of a report that suggested increased government involvement in offshore drilling in the near future. Despite this commodity move to the upside, the U.S. dollar remained relatively steady, although a reduction in demand for U.S. Treasury securities was apparent thanks to rising yields across most maturities. Markets were encouraged today by news out of Asia, where Japan joined in with China to buy up European sovereign debt, thereby taking pressure off [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: UNG Sinks, IYZ Surges Higher Daily ETF Roundup: UNG Tumbles, MOO Jumps Higher Best ETF Performers Of 2010: Winners For Every ETFdb Category Daily ETF Roundup: GDX Tumbles, UNG Surges Higher Daily ETF Roundup: UNG, GLD Lead Commodity ETF Surge