Daily ETF Roundup: VXX Tumbles, IYT Soars

U.S. equity markets jumped higher to start the week with the Dow surging higher by 100 points and the Nasdaq and S&P 500 both posting gains above 1.1%. In commodity markets, oil fell to start the day after reports that hurricane Bonnie was weakening and unlikely to impact Gulf production but the price of the important commodity rose back up to its starting price after some rosy economic data was reported. One of the key news items was a report that new home sales jumped higher by 23.6% in June to a seasonally adjusted annual rate of 330,000 compared to government estimates of 300,000 shares sold. Although this is a very low number, many analysts cheered the figure due to the fact that many had thought that the rate of homes sold would decline significantly once the tax credit expired in late May since would-be home-buyers no longer had a [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: VXX Tumbles, IWN Soars Daily ETF Roundup: VXX Soars, VNQ Tumbles Daily ETF Roundup: UNG Soars, FXI Tumbles