ETFs Soaring on the Higher Dow
Thursday, March 25th, 2010Tom Lydon submits:
The number of unemployed workers seeking benefits this week dropped, and exchange traded funds like it. It’s the fourth straight drop in such claims and it’s a sign that the job market is slowly marching toward some semblance of health.
High unemployment has been a thorn in the economy’s side, but if the number of jobless claims continues to decline, we could soon be looking at job creation. Many economists expect this to happen as soon as March. Once the job market recovers, it’s natural to believe that other areas will begin to show signs of strong improvement, as well. Namely, consumer spending. Once we stop being so afraid of losing our jobs, we should begin to spend more freely. Vanguard Consumer Discretionary (VCR) was up 1.2% this morning. [5 ETFs to Play the New Retail Climate.]
