Mid-Day Update: Mixed Economic Reports Have ETFs All Mixed Up
Thursday, June 3rd, 2010Tom Lydon submits:
ETFs are wavering this morning on the heels of yesterday’s late-day surge that sent the markets higher by more than 200 points. The cause could be a set of mixed economic reports that left Wall Street wanting more.
While the jobless claims report released early Thursday showed improvement, the number failed to meet expectations. Initial jobless claims came in at 453,000, with the four-week trend up slightly for a third week straight settling at 459,000. Economists had forecast 450,000 claims for the week of May 29. The private sector added 55,000 jobs last month, but like the weekly report, it also fell short of expectations.
