Homebuilder ETFs Slide On Sentiment
NEW YORK (
) -- Despite market gains on Monday, ETFs tracking homebuilder companies remained under pressure following data that showed that homebuilder sentiment had touched a 15-month low.
The
iShares Dow Jones Home Construction
(ITB) - Get Report
slid 0.8% on Monday, while the
SPDR S&P Home Builders ETF
(XHB) - Get Report
declined 0.3%. The former's portfolio has a heavier weight in
Lennar
(LEN) - Get Report
,
Pulte
(PHM) - Get Report
and
Toll Brothers
(TOL) - Get Report
.
Gold prices sank on weak economic numbers, causing gold stocks, a riskier investment, to slide further. Market Vectors Gold Miners ETF
(GDX) - Get Report
shed 2.1%.
Global X Silver Miners ETF
(SIL) - Get Report
was down 2.6%. The
SPDR Gold Trust
(GLD) - Get Report
which tracks the physical commodity declined by a lower 0.8%.
ETFs tracking oil equipment and services majors rose following
Halliburton
's
(HAL) - Get Report
earnings beat. The
Oil Service HOLDRS
(OIH) - Get Report
rose 2.2%. The
iShares Dow Jones US Oil Equipment Index
(IEZ) - Get Report
surged 2.6% as investors turned bullish on its top holdings.
Schlumberger
(SLB) - Get Report
, which accounts for 22% of its portfolio spiked 4.3% on Monday and Halliburton, which holds a 10% weight, ended up 6%.
The United States Oil Fund
(USO) - Get Report
rose 0.9% as oil prices climbed higher.
Financial ETFs pared losses as stocks rose higher towards the market close. The
SPDR KBW Bank Index
(KBE) - Get Report
closed 0.3% lower, while the
SPDR Financial Select Sector
(XLF) - Get Report
fell 0.1%.
-- Reported by Shanthi Venkataraman in New York.
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