Consumer Confidence Drops; Retail ETFs in Focus Tuesday, September 28, 1:15 PM ET, by ETF Channel Staff The Conference Board released a disappointing consumer confidence report this morning, putting retailer and retail ...
By ETF Channel Staff, Tuesday, September 28, 1:15 PM ET
The Conference Board released a disappointing consumer confidence report this morning, putting retailer and retail ETFs in focus.
The index of consumer attitudes fell to 48.5 in September from 53.2 in August. The Conference Board cited the "pull back in confidence was due to less favorable business and labor market conditions, coupled with a more pessimistic short-term outlook."
The SPDR S&P Retail ETF (AMEX:XRT) is higher by seven tenths of a percent today. This particular fund tracks the S&P Retail Select Industry Index. Other retail ETFs include The Retail HOLDRS (AMEX:RTH), which is trading higher by nearly one and a quarter percent, and the Dynamic Retail Portfolio (AMEX:PMR), trading lower by over six tenths of a percent.
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