ETFs Start Higher as Consumers Spend More

Mon, 03/28/2011 - 16:59 EDT - Seeking Alpha

Exchange traded funds (ETFs) are pointing to a slightly higher start for Wall Street Monday, as investors turned their attention to a heavy week of economic data and to crude prices after Libyan rebels took control of key oil towns over the weekend.

Consumer spending rose in February at the fastest pace in four months, but a big part of the increase went to cover higher gas prices. The Commerce Department said Monday that consumer spending jumped 0.7% in February. Personal incomes rose 0.3%. That was after a 1.2% January income increase — the biggest in nearly two years. Both gains reflected a Social Security tax cut, which boosted take-home pay. Still, high gas prices were a big reason for the spending gains. Economists are concerned that if energy costs keep going up, it will cut into household budgets and leave consumers with less money to spend on other items.

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U.S. Retail Sales Up Solid 1.1% in February
(WASHINGTON) — Americans spent at the fastest pace in five months in February, boosting retail spending 1.1 percent compared with January. About half the jump reflected higher gas prices, but even excluding gas purchases, retail sales rose 0.6 percent. The report Wednesday from the Commerce Department showed that Americans kept spending last month despite higher Social Security taxes that took effect this year. The retail sales report is the government’s first look each month at consumer spending, which drives about 70 percent of economic activity.
U.S. Retail Sales Up Solid 1.1% in February
(WASHINGTON) — Americans spent at the fastest pace in five months in February, boosting retail spending 1.1 percent compared with January. About half the jump reflected higher gas prices, but even excluding gas purchases, retail sales rose 0.6 percent. The report Wednesday from the Commerce Department showed that Americans kept spending last month despite higher Social Security taxes that took effect this year. The retail sales report is the government’s first look each month at consumer spending, which drives about 70 percent of economic activity.
Higher Gas Costs Drive Up Spending In February
Consumers spending rose 0.7 percent, the fastest pace in four months, while incomes went up 0.3 percent. But a big part of the spending increase went to cover higher gasoline costs, and economists worry that further rises at the pump will leave consumers with less money to spend on other items.» E-Mail This » Add to Del.icio.us
US consumer spending makes biggest gain in five months as incomes rise
We Still Haven't Figured Out What Caused That Huge Spike In Personal Incomes
The drop in personal income last week got some media attention, particularly given that it was the largest one-month drop in 20 years.
Consumer spending rose in February
U.S. consumers' spending rose in February at the fastest pace in four months, but a big part of the increase went to cover higher gas prices.
Consumer spending rose 0.7 percent in February
[AP] - Consumers spending rose in February at the fastest pace in four months, but a big part of the increase went to cover higher gas prices.
Consumer spending rose 0.7 percent in February
[AP] - Consumers spending rose in February at the fastest pace in four months, but a big part of the increase went to cover higher gas prices.
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ETFs Start Higher as Consumers Spend More

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