Equity exchange traded funds were lower on Tuesday, pressured by a negative outlook from Hewlett-Packard (NYSE: HPQ) and weak U.S. housing data.

Technology ETFs felt a headwind Tuesday from Hewlett-Packard, which saw its shares fall 8% as the company lowered its full-year outlook partly due to the earthquake and tsunami in Japan. Late Monday there were reports of a leaked memo to top Hewlett-Packard executives from CEO Leo Apotheker warning of “another tough quarter” and telling them to focus more on hiring and expenses. [Tech ETFs Hit by Hewlett-Packer Outlook, Leaked Memo]

ETFs that invest in homebuilder stocks fell Tuesday after a report estimated U.S. housing starts declined nearly 11% in April. SPDR S&P Homebuilders ETF (NYSEArca: XHB) is flat in early trading after the weaker-than-expected housing report. Builder ETFs fell Monday after disappointing first-quarter sales numbers from Lowe’s (NYSE: LOW). Also, builder confidence in the market for newly built, single-family homes held unchanged at the low level of 16 in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index. [Homebuilder ETF Slip on Weak Housing Starts]

Financial and bank exchange traded funds rose Tuesday morning despite a report that New York Attorney General Eric Schneiderman is investigating mortgage securities packaged by big banks such as Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS) and Goldman Sachs (NYSE: GS). [Bank ETFs Shake Off Mortgage-Securities Probe]

Retail and consumer ETFs were flat on Tuesday following mixed quarterly results from Wal-Mart (NYSE: WMT) and Home Depot (NYSE: HD). Home Depot shares gained ground on Tuesday. Jefferies analysts said company’s earnings were better than expected on improved expense control, despite softer sales while the sales forecast for the year was unchanged. [Retail ETFs in Focus on Wal-Mart, Home Depot Earnings]

First Trust is the first fund provider to offer an ETF focusing on the automobile industry. [First Trust Launches Worlds First Automobile ETF]

Gregory A. Clay contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. 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.