The broad materials industry will continue to face pressure as investors remain uncertain about the strength of the global economic recovery.
SPDR S&P Homebuilder ETF (XHB) -2.3%The market is still trying to come to terms with the fact that government-sponsored first-time homebuyer incentive program is no longer available to provide support to the real estate industry.
Investors looking to try their luck with XHB should remain prudent. The economic storms are still raging and real estate will remain a tricky sector to navigate.
At the time of publication, Dion Money Management owned GDX.