Layoffs, arbitration, underperforming hedge funds and junk ETFs; and how I upgraded my smartphone. Financial Review by Sinclair Noe for 05-05-2016 DOW + 9 = 17,660 SPX – 0.49 = 2050 NAS – 8 = 4717 10 Y – .04 = 1.75 OIL + .34 = 44.32 GOLD – 1.40 = 1278.60 The number of Americans filing for unemployment benefits rose more than expected last week, posting the biggest gain in more than a year. Initial claims for state unemployment benefits increased 17,000 to a seasonally adjusted 274,000 for the week ended April 30. The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 2,000 to 258,000 last week.   Another report showed a 35 percent surge in planned layoffs by U.S.-based employers last month. Most of the announced job cuts were concentrated in the energy sector.  Challenger, Gray & Christmas said US-based companies announced 65,141 job cuts last month.   The jobs report for April due out tomorrow morning. Investors will be watching closely to see if it could have any impact on the Federal Reserve’s plans for raising interest rates at its next policy meeting in June. The report is expected to show jobs grew by 200,000 last month while the unemployment rate stayed at 5 percent.  A strong jobs report would be a possible indicator of Fed tightening. An early rally on Wall Street this morning faded into the close.   MetLife said it’s seeking to ...