Equity markets started off the new year in bright green territory as indexes across the board soared higher, bolstered by returning bulls from holiday break. The Nasdaq led the way higher, clinching gains of 1.67% on the day, while the Dow Jones Industrial Average lagged behind, gaining 1.47%. Basic materials stocks surged ahead alongside financials on Wall Street, while gains in the utilities sector were few and sparse as investors saw their appetite for risk increase [see 12 Rapid Fire ETF Ideas For 2012]. Confidence in the domestic economic recovery improved considerably after a string of positive economic data releases. The ISM Manufacturing Index came in better-than-expected at 53.9%, trumping analyst forecasts and cruising past last month’s reading of 52.7%. The U.S. housing market also saw glimmers of hope after construction spending data topped estimates, showing an increase of 1.2%, versus the previous reading of -0.2%. Overseas, the euro gained [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: GDX Shines On Strong Gold, VXX Sinks On Strong Equities Daily ETF Roundup: GDX Gains On Gold’s Glitter, VXX Recedes On Market Strength August ETF Stats: Keeping The Winning Streak Alive (Just Barely) Daily ETF Roundup: GDX Tumbles On Gold’s Weakness, VXX Soars On More European Worries Daily ETF Roundup: GDX Rises On Slumping Dollar, VXX Declines On Greek Optimism