Daily ETF Roundup: UNG Sinks, MOO Soars

Equity markets finished the day flat after a disappointing report from the Labor Department sent equities lower at the start. Commodities finished the day flat while traders fled to the relative security of the Treasury market and drove yields down to the 2.9% mark on the 10 year bond and below 0.55% for the two year note. This weakness came as the Labor Department reported that initial claims for unemployment benefits jumped to 479,000 last week from 460,000 a week earlier. Economists polled by Thomson Reuters had forecast new claims would fall modestly. Although some cited the ending of the census as a reason for the possible jump and the relatively good reaction to the news by the stock markets, others remain cautious about the economic outlook and the prospects for a jobless recovery. “Without job creation, you can’t get consumer confidence up and spending up,” said Joe Gordon, founder [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: UNG Sinks, MOO Rises Daily ETF Roundup: VXX Sinks, EWZ Soars Daily ETF Roundup: VXX Sinks, GDX Soars