Consumer ETFs Fall on Jobs Data

Consumer-focused exchange traded funds decline on Friday after payroll numbers showed the U.S. economy shed 131,000 jobs.
Author:
Publish date:

NEW YORK (

TheStreet

) -- Markets recovered in the latter half of Friday's trading after dropping more than 1% following weak jobs data.

Consumer-focused exchange-traded funds came under selling pressure early in the day, soon after data showed that the U.S. economy shed 131,000 jobs, far more than the projected 87,000 decrease. On Thursday, retailers declared lower-than-expected same-store sales, which also worsened investor sentiment.

By the end of the Friday session, this particular batch of ETFs managed to recover some of their losses, though they still finished in the red.

The

SPDR S&P Retail ETF

(XRT) - Get Report

, which shed more than 2% in early trading, closed 0.5% lower. Its top holdings include

Aeropostale

(ARO)

, which lost close to 4% after an analyst at

Wells Fargo

(WF) - Get Report

downgraded the stock to market perform.

The

Consumer Discretionary Select SPDR

(XLY) - Get Report

gave up 0.7%, dragged lower by selling in

Amazon

(AMZN) - Get Report

, among other stocks.

Vanguard Consumer Discretionary

(VCR) - Get Report

and

First Trust Consumer Discretionary AlphaDEX

(FXD) - Get Report

, an actively-traded ETF, were other prominent losers.

Financial ETFs also lost ground, even as markets recovered. The

SPDR Financial Select Sector

(XLF) - Get Report

retreated 0.8%.

Weak economic data, however, helped drive investor appetite for gold and gold-mining ETFs. The

SPDR Gold Trust

(GLD) - Get Report

rose by 0.8%, and

Market Vectors Gold Miners ETF

(GDX) - Get Report

, rose by nearly 1%.

-- Reported by Shanthi Venkataraman in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.