Daily ETF Roundup: UNG Continues Slide, IYT Soars

Equity markets rose modestly to start the week, with the Nasdaq leading the way on the upside by posting gains of nearly 0.8% on the day. Commodities were mixed, with gold maintaining its $1,200/oz. price level and oil surging higher to $81.50/bbl. as investors remained cautious ahead of the Federal Reserve policy meeting tomorrow afternoon. Volume on the NYSE was extremely light; only 380.1 million shares changed hands, one of the lowest levels of the year. Many will be looking for the Bank to inject more money into the economy in order to attempt to stop a slide into a double dip recession, which appears more likely than ever. This will put all eyes on Fed Chair Ben Bernanke, he could signal more intervention into the economy. It remains to be seen if such an initiative would take the form of buying Treasury bonds, mortgage-backed securities, or some other unconventional [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: UNG Continues Slide, GDX Rises Daily ETF Roundup: FXI Rises, VXX Continues Slide Daily ETF Roundup: UNG Rises, GDX Continues Slide