Trading volumes continued to fall on Tuesday, as those investors who hadn’t already checked out ahead of the Christmas holiday gave stocks a final push towards the 2009 finish line. Strong home sales data for November was reason for hope, while a downward revision of third quarter GDP growth kept asset prices in check. Elsewhere, a potential financial and political disaster began to develop in Indiana while troubles continued to mount in Greece.
The ETFdb 60 Index posted its third straight daily gain, adding 1.80 points, or 0.2%, to close at 1,022.73.
Leading the way higher was the United States Natural Gas Fund (UNG), which has staged a furious rally in recent weeks in an effort to recapture ground lost in the first 11 months of the year. Despite uncertainty over heating demand in coming weeks, UNG added almost 1.3%. The fund has now posted gains in 10 of its last 13 trading sessions, and has gained more than 23% over that period. Despite stellar returns as of late, UNG has been one of the biggest losers of 2009, shedding more than 50% year-to-date.
Losing ground on Tuesday was the iShares MSCI Brazil Index Fund (EWZ), which was off 1.8% after a Central Bank report forecast an increase in the country’s inflation rate. Brazil’s base interest rate is currently at 8.75%, and a survey of private economists indicated it could increase to 10.75% by the end of next year.
For more updates on the day’s biggest ETF winners and losers, sign up for our free ETF newsletter.
Disclosure: No positions at time of writing.