The S&P 500 was little changed this week as the U.S. blue-chip index eyes a breakout to the highest levels since 2007. Meanwhile, Treasury ETFs bounced somewhat following the steep pullback this summer, and oil dropped sharply.
In afternoon trading Friday, the S&P 500 was on track for a weekly decline of 0.1%, the Dow gained 0.2% and the Nasdaq Composite added 0.2%.
ETFs pegged to the major indices were flat for the week following big rallies the past two weeks on easing measures from the Federal Reserve and European Central Bank.
It was also a quiet week for economic data, although homebuilder ETFs gained ground on upbeat housing data – iShares US Home Construction Index (NYSEArca: ITB) was poised for a nearly 3% weekly gain. The builder ETF is up 36% the past three months.
The big losers this week were oil ETFs, which fell sharply with crude prices. [Oil ETFs Plummet 7% on Week as Volume Spikes]