Homebuilder, Consumer ETFs Rebound

Homebuilder ETFs are gaining strongly on Monday ahead of the Federal Reserve's meeting on Tuesday.
Author:
Publish date:

NEW YORK (

TheStreet

) -- Homebuilder ETFs were strong gainers through Monday, ahead of the Federal Reserve's meeting on Tuesday. The central bank is expected to maintain rates at record lows and may suggest more stimulus is needed to jump-start the slowing economy.

The

SPDR S&P Homebuilders

(XHB) - Get Report

rose 2.8% at $15.41. Its top holdings include

PulteGroup

(PHM) - Get Report

, up 2.1% and

Lennar

(LEN) - Get Report

, up 2.9%. The

iShares U.S. Dow Jones Home Construction

(ITB) - Get Report

also gained 2.9%.

Consumer ETFs rebounded from last week's losses. Consumer and retail stocks sold off last week after weak jobs data and lower-than-expected retail sales hurt sentiment. However, buying resumed on Monday on hopes that stimulus measures will be announced to improve hiring. Strong same-store sales from

McDonald's

(MCD) - Get Report

also improved confidence. The

SPDR S&P Retail

(XRT) - Get Report

jumped 1.5%. The

SPDR International Consumer Staples ETF

(IPS)

also rose 0.6%.

The

SPDR Regional Banking ETF

(KBE) - Get Report

was another notable gainer on Monday, up 1.7%. Financial ETF were in the red last week on weak economic data.

Prominent among losers is

Internet Architecture Holders

(IAH)

, which has a 23% exposure to

Hewlett-Packard

(HPQ) - Get Report

. Hewlett-Packard slumped 7.4% after its CEO Mark Hurd resigned following a probe into a sexual harassment claim. The ETF ended the day lower by 0.4%.

-- Reported by Shanthi Venkataraman in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.