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Housing-related exchange-traded funds were the best performers of week, after unexpectedly strong new-home sales data hinted that the sector may be close to bottoming.
Shortly after Thursday's session began, a Commerce Department report said that new-home sales rose 16.2% last month to an annual rate of 981,000 units. Economists were looking for only an 860,000 pace.
Housing ETFs managed to avoid pitfalls during the week, including Friday's weak report on existing-home sales, as well as a disappointing fiscal second-quarter earnings report from Toll Brothers (TOL Quote) on Thursday. ...
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