ETFs Flat as Investors Await Crucial Data

The absence of major economic data and the trailing off of earnings season kept trading light and subdued Monday afternoon. Stocks ended flat as investors kept a cautious eye on critical housing and employment data due out later this week.

The Dow Jones Industrial Average closed 3 points higher at 9509 while the Nasdaq shed 3 points to end at 2020. The S&P 500 was up less than 1 point to just above 1025. Following suit, most exchange-traded funds traded in a very tight range.

Investors had more time to parse Fed Chairman Ben Bernanke's speech Friday, in which he said recovery would be slow in coming, despite signs that the global economy was stabilizing.

Comments from prominent banking analyst Richard Bove that as many as 200 regional banks could fail did, however, prompt a selloff in the financial sector.

For a detailed rundown on Monday’s trading session see our market story.

The iShares Barclays 20+ Year Treasury Bond fund (TLT) served as a safe haven for investors ducking out of stocks, gaining 1.8%. A rise in Asian markets pushed up the iShares MSCI Pacific ex-Japan Index fund (EPP) by 1.6%.

The SPDR KBW Regional Banking fund (KRE) shed 2.5% on Bove's negative comments. The Regional Bank HOLDRS fund (RKH) dropped 1.9%.

Launching Pad
Bond firm PIMCO on Monday launched the PIMCO 1-5 Year U.S. TIPS Index Fund, an exchange-traded fund that is the first of three centered on Treasury Inflation-Protected Securities (TIPS). The first fund focuses on short-maturity TIPS and is managed by Vineer Bhansali. It seeks to replicate the Merrill Lynch 1-5 Year U.S. Inflation-Linked Treasury Index. The PIMCO 15+ Year U.S. TIPS Index Fund will focus on long-dated TIPS that are effective in hedging long-term spending needs against interest rate and inflation risks. The PIMCO Broad U.S. TIPS Index Fund will give investors the combined benefits of TIPS exposure across the maturity spectrum. Those funds are slated for September launches.

Earnings and Conference Calls
American Woodmark, Bank Of Montreal, Big Lots, Blue Coat Systems, Borders Group, Burger King, Burlington Coat Factory, Casual Male Retail Group, Chico's FAS, Dycom Industries, Hain Celestial Group, International Rectifier, Medtronic, Myriad Genetics, Sanderson Farms, Sbarro, Staples, TTI Telecom, Versant

Economic Data
7:45 a.m. ICSC-Goldman Store Sales
8:55 a.m. Redbook
9:00 a.m. S&P Case-Shiller Housing Price Index
10:00 a.m. Consumer Confidence
10:00 a.m. State Street Investor Confidence Index