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Consumer stocks fell as oil futures rebounded and fresh economic data pointed to softness, adding to pressure from signs of a troubled housing market and cautious shoppers. Yeti lowered its annual sales outlook, while new weekly jobless claims rose more than expected.
U.S. existing-home sales in October dropped to their lowest level since 2010. The SPDR S&P Home Builder exchange-traded fund declined 1.7% and is down about 3% year to date.
Yeti, which makes heavy-duty drink coolers and other outdoor gear, cut its sales projection for the year, citing consumer caution. Weekly initial jobless claims also increased by more than anticipated.
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