Retail exchange traded funds move along in tepid trading before a key update to personal income levels in a weakened U.S. labor market.
The SPDR S&P Retail ETF (NYSEArca: XRT) gained 0.7% Tuesday and the Market Vectors Retail ETF (NYSEArca: RTH) was 0.1% higher. XRT increased 32.1% year-to-date while RTH rose 27.5%.
Economic data on personal income and consumer spending will be released Friday, Sept. 27.
Income was only 0.1% higher in July after a 0.3% gain in June. Wages and the salaries component declined 0.3% in July after a 0.4% rise in June. Analysts anticipate a 0.4% rise in personal income for August, according to Bloomberg. [Stock ETFs Dependent On Consumer Spending May Be In Trouble]
Headline inflation remains relatively flat, rising 0.1% in July, after a 0.4% increase in June. Observers expect a August inflation to be 0.1% higher.
Consumer spending dipped 0.1% in July after a 0.6% increase in June. Analysts expect a 0.3% rise in August. Spending is still moving along.