Exchange traded funds (ETFs) that invest in the U.S. retail sector have paused after a run as investors digest March sales figures.
Retail ETFs are going against the grain with the rising costs of apparel, food and gasoline. The category includes funds such as SPDR S&P Retail (NYSEArca: XRT), which rose last week. [Jobless Claims, Retail Sales Boost ETFs.]
Investors are anticipating reports on retail sales and the jobs market to help direct their next moves. Major retailers reported March revenue that topped analyst expectations, reports Andria Cheng for MarketWatch.
The later Easter holiday has also anchored any extra consumer spending for this quarter, as consumers have held off until later. As food prices and gasoline prices rise, consumers may scale back, but these factors have not reflected significantly yet.
SPDR S&P Retail
Tisha Guerrero contributed to this article.
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