Waning Confidence Weighs on ETFs

Receding consumer confidence took a toll on stocks Tuesday. The Conference Board said its index of consumer confidence for June fell to 49.3 from a revised 54.8 in May, which was revised down slightly from its originally reported 54.9. Weak numbers from key retailers such as Wal-Mart (WMT) and Abercrombie & Fitch (ANF) also weighed on indexes. Oil prices dropped sharply, but managed to stay above $70 a barrel, minimizing the slide in energy stocks. The Dow Jones Industrial Index lost 82 points to finish at 8448. For a complete rundown of Tuesday’s trading session see our market story. 

The iPath S&P 500 VIX Short-Term Futures Index fund (VXX) was up 1.5%, reflecting the actual 6.1% lift in the Chicago Board Options Exchange's Volatility Index, which rose to 21.88 (above the 25.66 level it reached right before the September collapse of Lehman Brothers). The iShares Cohen & Steers Realty Majors Index fund (ICF) bounced back a bit Tuesday, climbing 1.1% after a big selloff last week.

Gold prices slipped to $928, knocking back the Market Vectors Gold Miners (GDX) 3.4%. Lower shipping activity dragged the Claymore/Delta Global Shipping fund (SEA) 2.9% lower.

Launching Pad
MacroMarkets received final Securities and Exchange Commission approval to launch the MacroShares Major Metro Up (UMM) and the MacroShares Major Metro Down (DMM) funds, which started trading Tuesday. The funds are designed to deliver 300% and -300% of the return of the S&P/Case-Shiller Home Price 10 Index, the leading benchmark of residential home prices in the U.S.

Earnings and Conference Calls
Constellation Brands, General Mills, Lindsay Corporation, UniFirst

Economic Data
7:00 a.m. June 26 Mortgage Refinance Application Survey
8:15 a.m. June ADP National Employment Report
10:00 a.m. June ISM Mfg Index
10:00 a.m. June Construction Spending
10:00 a.m. May Pending Home Sales
10:30 a.m. Jun 26 U.S. Energy Dept. Oil Inventories

A look at how the industry's most popular ETFs did on Tuesday: