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Daily ETF Roundup: MOO Surges, VXX Tumbles

By: ETFdb
U.S. equity markets started the week on a high note as hope for Federal Reserve action overshadowed weakness in the financial sector and continuing fears of inflation. The broad S&P 500 gained just 0.2% on the day while the Dow jumped by 0.3% and the Nasdaq surged by 0.5%. Commodity markets jumped back higher as well, with gold and oil finishing the day up 1.1% and 0.7%, respectively, thanks to an increasingly weak dollar which continued its slump against the world’s major currencies and nearly broke below the 80 yen mark on the day. Today’s gains were the result of higher than expected home sales and hopes by investors that the Federal Reserve would step in with a massive bond buying campaign to help boost the markets. “The promise of QE2 has put downward pressure on the dollar and put downward pressure on interest rates,” said Hugh Johnson, chief investment officer [...] Click here to read the original article on Related Stories: Daily ETF Roundup: VXX Surges, VGK Tumbles Daily ETF Roundup: VXX Tumbles, VNQ Surges Daily ETF Roundup: VXX Tumbles, MOO Soars
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