Jobs Report Boosts Stocks As Gold ETFs Weaken | ETF Trends

Friday’s better-than-expected March employment report provided a tailwind for U.S. stocks while gold exchange traded funds (ETFs) moved lower on the second quarter’s first day of trading.

Nonfarm payrolls rose by 216,000 in March, the Labor Department said.

SPDR S&P 500 ETF (NYSEArca: SPY) rose 0.6% in premarket action Friday after gaining about 6% in the first quarter.

Meanwhile, gold prices skidded Friday morning in the wake of the bullish jobs report. SPDR Gold Shares (NYSEArca: GLD) was down more than 1% before the opening bell.

For full disclosure, Tom Lydon’s clients own SPY and GLD.

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