Daily ETF Roundup: XLY Surges, BLV Continues To Slide

Despite a rocky start, U.S. equity markets ended the day higher on Thursday ahead of tomorrow’s crucial jobs report. While the Dow only reported a modest gain of 0.5%, the S&P 500 and the Nasdaq soared higher by 0.9% and 1.0%, respectively. Today was also an eventful day for commodities, as gold continued its surge higher, pushing past the $1,250/oz. mark. Meanwhile oil jumped by 1.5% thanks to news of a fresh oil disaster in the Gulf, which spooked investors right before the end of trading. Today’s trading day featured relatively light volume as traders stood their ground and patiently waited for tomorrow’s report on August unemployment levels, which looks to set the tone for markets. Economists polled by Thomson Reuters predict that the unemployment rate will trend higher up to 9.6%, further demonstrating that the private sector is not yet confident in an economic recovery. “We’re treading water,” said Dan [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: UNG Continues Slide, EWZ Surges Ahead Daily ETF Roundup: UNG Continues Slide, GDX Rises Daily ETF Roundup: UNG Continues Slide, IYT Soars