Housing-related exchange-traded funds were among the best performers Friday, despite warnings of a revenue drop from
Meritage said it expects second-quarter revenue to drop 37% from a year ago due to a decline in the housing market. Still, the stock was up 2.4%.
Among other housing concerns,
was adding 4.8%,
was higher by 3.8%, and
was up 2.1%.
ETF was up 84 cents, or 2.8%, to $30.86. The
iShares Dow Jones U.S. Home Construction
ETF was recently climbing 87 cents, or 2.8%, at $31.70.
ETFs tracking silver and gold were also among the winners of the session. Silver futures gained 24 cents to $12.82 an ounce. Gold futures were adding $4.70 to $655.30 an ounce.
Market Vectors Gold Miners
rose 96 cents, or 2.4%, to $40.20. The
PowerShares DB Silver
ETF was up 52 cents, or 2.1%, to $25.12. The
iShares Silver Trust
was higher by $2.24, or 1.8%, to $126.89. The
PowerShares DB Gold
gained 20 cents, or 0.8%, to $25.87.
On the losing side, the
United States Natural Gas
ETF was slumping due to a larger-than-expected build in natural gas inventories. Earlier, the Energy Department said that natural gas supplies rose by 78 billion cubic feet last week, sending natural gas lower by 2.1% to $6.48, the lowest level in more than two years. The ETF was losing 70 cents, or 1.7%, to $41.76.
Real estate ETFs gave back some of the gains from Thursday, a day after
bid $26 billion for
Several hotel stocks jumped during the prior session on speculation of future buyouts, but were retreating Friday as enthusiasm wore down.
Host Hotels & Resorts
slid 1.6%, and
Intercontinental Hotels Group
iShares FTSE NAREIT Retail
ETF was losing 73 cents, or 1.6%, to $43.77. The
iShares FTSE NAREIT Real Estate
ETF was down 36 cents, or 0.8%, to $46.21. The
Ultra Real Estate ProShares
was off 31 cents, or 0.6%, to $53.52.