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Consumer Spending, Home Sales Lead ETFs South

Exchange traded funds (ETFs) are pausing for breath early this morning after several days of gains in the wake of a spate of gloomy numbers about the broader American economy.

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Claymore Robb Global Luxury (NYSEArca: Consumer ETFs: Going Global to Find Strength.]

In yet more discouraging news, factory orders also fell in June by 1.2%. It was the second straight drop on the heels of nine months of gain. Cited in the report was lower demand for steel, construction equipment and aircraft. Market Vectors Steel (NYSEArca: Steel ETFs Facing Headwinds?]

More weakness in real estate, too: in June, pending home sales fell 2.6%. The numbers are a measure of the number of buyers who signed contracts to purchase homes. Sales are now at the lowest on record and down 19% from a year ago. Inventory is up, too: at this rate, it will take nine months to sell all the homes on the market, the highest level since last year. SPDR S&P Homebuilders (NYSEArca: Homebuilder ETFs: Behind the Numbers.]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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