Daily ETF Roundup: UNG Slides, XLE Rises

Although equity markets started the day sharply lower, stocks managed to rally in midday trading to post solid gains by the end of Wednesday’s session. The Dow finished up by 0.1% while the S&P 500 and the Nasdaq posted more robust gains of 0.4% and 0.7%, respectively. Currency markets stayed relatively flat as the U.S. dollar index gained 0.3% on the day thanks to greenback gains against the yen, which helped to balance out the losses the currency experienced against the British pound. Oil continued its surge, finishing the day up 1.6%, just above the $88/bbl. level. While this wasn’t a huge gain by any means, it bucks the trend that investors saw over in the metals markets, as copper and gold both declined modestly while silver fell by over $1.6/oz. on the day, a 5.5% decline. The big news today came from Boeing, which reported that its flagship product, the [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: UNG Slides, IYT Rises Daily ETF Roundup: UNG Slides, GDX Rises Daily ETF Roundup: UNG Slides, VNQ Rises