The ads are already infiltrating the newspapers and television commercials, and like Rodney Dangerfield, many U.S. families are gearing up to go back to school. Are retail exchange traded funds (ETFs) ready?
Retailers are awaiting a spree of spending from parents of school-age children to college-age students and the odd person who just gets a thrill from a new set of pens and a nice, clean notebook.
The retail ETFs had a performance rally and for the last two weeks have been turning in positive numbers.
Nicole Maestri for Reuters reports that U.S. parents with school-age children are going to spend more on back-to-school items this year, aided by the rebate checks.
It does beg the question: how much mileage will we continue to get out of those checks? We’re willing to bet that the majority of them are long since spent by now.