Housing-related exchange-traded funds were among the worst decliners of Wednesday's session, after more bad news about the housing market.
The National Association of Realtors said its pending home sales index dropped 12.2% in July to a reading of 89.9, providing the latest evidence that the slowdown in housing is continuing. Over the last year, the index has fallen 16.1%.
Following the release, the Philadelphia Housing Sector Index slid 1.7%.
(PHM) were all down 3.1% or more.
iShares Dow Jones U.S. Home Construction
(ITB) was losing 87 cents, or 3.6%, to $23.28. The
SPDR S&P Homebuilders
(XHB) was down 93 cents, or 3.7%, to $24.38.
Bundled securities tracking real estate were also losing ground following the report on pending home sales.
Vornado Realty Trust
(VNO - Get Report)
Simon Property Group
were all lower by 2% or more.
Ultra Real Estate ProShares
was falling $2.19, or 4.8%, to $43.50. The
SPDR Dow Jones Wilshire International Real Estate
was down $1.54, or 2.5%, to $61.04. The
WisdomTree International Real Estate
ETF was off by $1, or 2%, to $48.70.
Retail ETFs also were tumbling on the backs of several holdings.
, which missed analysts expectations for August same-store sales, dropped 5%.
were all down 2% or more.
PowerShares Dynamic Retail
was shedding 42 cents, or 2.3%, to $17.84. The
was lower by $2.11, or 2.1%, to $98.84. The
SPDR S&P Retail
was down 89 cents, or 2.3%, to $38.73.
On the other hand, Treasury-related ETFs were among few winners of the day. Recently, the 10-year note was up 16/32 in price, cutting the yield to 4.48%. The 30-year bond was adding 26/32 in price, yielding 4.78%.
Vanguard Long-Term Bond
was up 59 cents, or 0.8%, to $74.93. The
iShares Lehman 20+ Year Treasury Bond
was gaining 62 cents, or 0.7%, to $89.18. The
iShares Lehman 10-20 Year Treasury Bond
was adding 63 cents, or 0.6%, to $101.46.