April 11, 2013 at 18:35 PM EDT
Retail ETFs Rise On March Sales But Facts Can Deceive
Investors went on a shopping spree in retail stocks and ETFs Thursday after March same-store sales met expectations and the number of people filing for unemployment benefits dropped sharply, reversing last week's jump. But the numbers should be put in perspective, a contrarian economist says. SPDR S&P Retail ETF (XRT) surged 2% to an all-time high of 72.95 in heavy volume. The fund holds nearly 100 equal-weighted companies -- both online and
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