Daily ETF Roundup: Bargain Shopping Euphoria Sparks Rally

Bargain shoppers finally stepped in after a long week of profit-taking pressures on Wall Street. Major equity indexes soared into green territory as investors rejoiced over renewed optimism that a deal in Congress would be reached before the much-feared fiscal cliff. Encouraging economic data also found its way into the headlines as existing home sales blew past estimates; October sales data came in at 4.79 million, jumping right past the 4.70 million estimate, as well as last month's reading of 4.69 million .

Global Market Overview: Bargain Shopping Euphoria Sparks Rally

After taking a nasty beating last week, the tech sector bounced back with full force today, and the Nasdaq ETF led the way higher with asizable2.38% gain. As risk appetites surged, the S&P 500 ETF charged ahead of the Dow Jones Industrial Average ETF . Overseas, markets also enjoyed a very positive start to the trading week.

Bond ETF Roundup

Considering the massive rally on the equity front, bonds performed quite well across the board. Prevailing risk on sentiment carried junk bonds to the top of the list in terms ofperformance, while notsurprisingly, safe haven U.S. Treasuries sank into red territory.

Commodity ETF Roundup

A weakening U.S. dollar paved the way higher for commodity prices across the board, with natural gas being the only loser on the day. Gold futures prices popped and managed to settled just above $1,730 an ounce, while crude oil finished the session just shy of the $90 a barrel mark.

ETF Chart Of The Day #1: XHB

The State Street SPDR Homebuilders ETF was one of the best performers, gaining a solid 2.01% on the day. Homebuilder stocks rallied into green territory as positive housing data served as a fundamental catalyst on the day. In addition to better-than-expected existing home sales, investors also cheered on an improving home builders' index; this figure came in at 46, marking a noteworthy improvement in builders' sentiment after coming in at 41 last month.

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ETF Chart Of The Day #2: VXX

The Barclays iPath S&P 500 VIX Short-Term Futures ETN was one of the worst performers amid the broad rally on Wall Street, shedding adismal8.59% on the day. Uncertainty seemingly evaporated from the stock market as growing optimism over the fiscal cliff resolution restored confidence. The Volatility Index (VIX) opened below the 16 mark and settled just above the 15 level as the closing bell rang.

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ETF Fun Fact Of The Day

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Disclosure: No positions at time of writing.