The ung stock price is finding support amid speculative buying tied to the rising price of Henry Hub gas futures. Liquidity remains strong, with average daily volume above 8 million shares, signaling sustained investor interest. The U.S. stock market was off to a strong start in 2024. The S&P 500 rose 0.3% while the Nasdaq Composite Index and Dow Jones declined 0.3% each in the initial two weeks of 2024. Overstretched valuations and uncertainty about the timing of Fed rate cuts have dampened investors’ optimism (read: Nasdaq Surges on Big Tech: ETFs in Focus). Still, a few corners of the stock market are outperforming. United States Natural Gas Fund UNG, Sprott Junior Uranium Miners ETF URNJ, AdvisorShares Pure US Cannabis ETF MSOS and Grayscale Bitcoin Trust ETF GBTC have gained in double digits in the first couple of weeks of the New Year. The latest data on wholesale prices, which unexpectedly declined 0.1% in December, has moved the market sentiment up. Consumer prices data came in modestly hotter than expected, with prices up 0.3% from the last month and 3.4% from the year-ago month. This has dampened market expectations about an interest rate cut as soon as March. Though the job data report for December came in stronger than expected, it also casts doubt on the expectations of March rate cuts. The disappointing manufacturing and service data also added to the chaos. The U.S. manufacturing sector slipped further into contraction during December, according to the latest PMI data from S&P Global, as output declined and the downturn in new orders gathered pace. Services activity also slowed in December. Additionally, the latest Fed minutes show that the central bank wouldn’t cut rates as aggressively as expected for this year. This suggests an uncertain path toward interest rate cuts and reflects a growing sense that inflation is under control. Investors bullish on natural gas in the coming months and quarters have a few ways to gain exposure to this resource. First, investors can target the energy source as directly as possible by investing in future contracts. Second, they can explore shares of companies dealing in the natural gas business . Third, and most commonly, they can invest in exchange-traded funds (ETFs) and related products that provide access to natural gas futures or baskets of related stocks accordingly. As of midday trading, the ung stock price reflects underlying Henry Hub natural gas contracts nearing $2.85/MMBtu. Traders are watching inventory data closely, as warmer weather forecasts could pressure near-term gains and keep the ETF in a narrow trading band.