NEW YORK ( TheStreet) -- Markets returned most of their gains on Tuesday, ending the day marginally positive. However, ETFs tracking commodities, including mining and materials, ended Tuesday on a relatively stronger note.
Following the Reserve Bank of Australia's comments that its economy's growth is on track and that China's expansion is stabilizing, the iShares Emerging Markets Materials Index (EMMT) rose 4.81% in early trading on Tuesday, before cooling off to settle at $20.67, up 1.45%. The SPDR S&P International Materials Fund (IRV) gained 3.43%, led by gains in two of its top holdings, BHP Billiton (BHP) and Rio Tinto (RTP).
The PowerShares DBB Base Metals Fund (DBB), an exchange-traded fund that tracks the price movement of base metals, rose 1.97%.
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