Jewelry purveyor Tiffany & Co. (TIF) put up strong results on Monday, delivering a dose of positivity to retail exchange traded funds (ETFs) and the overall sector. It’s was sitting at 7-week highs this morning.
While Tiffany isn’t a major holding of any of the retail ETFs, the fact that the company is forecasting earnings to beat analysts’ predictions is good news for the sector – diamonds are hardly a consumer staple, despite what the woman in your life tells you.
Tiffany also reported that its fourth-quarter fiscal earnings beat the mean estimate by analysts, says Tomi Kilgore for Thomson Financial.
Retail ETFs that were in green territory intraday:
- Claymore/Robb Report Global Luxury (ROB)
- Retail HOLDRs (RTH)
- SPDR S&P Retail (XRT)
- Consumer Discretionary SPDR (XLY)
- iShares Dow Jones US Consumer Goods (IYK)
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.