Daily ETF Roundup: XLK Plunges, GDX Soars

Equity markets continued their slump in Thursday trading, as all the major indexes fell by roughly 0.6% on the day. Oil also fell as fears over global growth resumed and send the commodity down 2.8% on the day. Surprisingly, T-bills sold off a bit despite the exodus from equities as the 10-year and two-year notes both saw yields rise. Investors seemingly avoided the low yielding government securities for precious metals, which all had a banner day. Gold and platinum both rose by roughly 1.4% while silver gained by a more modest 0.9% as investors embraced the safe havens on worrying reports from Cisco and poor unemployment numbers. The weekly number of people filing for first time unemployment benefits rose by 2,000 to 484,000, disappointing analysts who had predicted a slight decrease. In terms of earnings reports, Cisco disappointed with its revenue and outlook numbers sending shares plunging by almost 10% [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: XLE Plunges, VXX Soars Daily ETF Roundup: VXX Sinks, EWZ Soars Daily ETF Roundup: GDX Soars, BLV Tumbles