Monday, July 17, 2017

Summer Time Highs

Monday, July 17, 2017 - Last week was again another good week for the market - the S&P 500 and Dow Jones Industrial Average both reached record highs this week. The Dow Jones ended up gaining 1%, S&P 500 gained 1.4%, and NASDAQ did the best with a 2.6% increase. This week every sector posted gains except financials which was down by .52%.  Technology, Energy, and Materials lead the way with 3.36%, 2.17%, and 2.05%.

Janet Yellen made her semiannual testimony in front of Congress on Wednesday reiterating that the Fed was not going to tighten monetary policy. She expects a tightening labor market to lead to increased inflation. This was despite the inflation data released on Friday which reflected that inflation remained flat in June.

Trading volume on Thursday slowed down in anticipation of Friday, the start of the second quarter's earnings season. Several major banks released their 2Q earnings of which one was JP Morgan Chase - we'll skip the already well-publicized CEO rant. Their 2nd quarter earnings rose by 13% on Net Income of $7 billion. EPS were $1.82, outperforming the $1.59 estimated by analysts. The ETF Global exposure report shows that the biggest holders of JPM are  IYG, iShares U.S Financial Services ETF, XLF, Financial Select Sector SPDR Fund, and FNCL, Fidelity MSCI Financials Index ETF.  These products hold 12.01%, 10.79%, and 8.98% respectively. All 3 funds had roughly the same performance of .3% for the week.

ETFG Weekly Select List features the 5 most highly-rated ETFs by Sector, Geographic Region and Strategy as ranked by the ETFG Quant model. This week we had one ETF, JHMA John Hancock Multifactor Materials ETF, in the Basic Materials category move from being unranked last week to the top spot this week.  JETS U.S. Global Jets ETF was another big mover in the industrial category moving from 4th to 1st this week.

ETFG Quant Movers - the biggest movers this week were HAHA, CSOP China 300 A-H Dynamic ETF which had a  score increase by  19.15%, EPOL iShares, MSCI Poland Capped ETF which increased by  18.73%, and VXUS, Vanguard Total International Stock ETF which increased by 18.37%. On the other side of the spectrum, we had SEA, Guggenheim Shipping ETF, have the score dropped by 30.28%. XAR, SPDR S&P Aerospace & Defense ETF, lose 17.34%, and ACTX Global X Guru Activist Index 16.25%.

Thank you for reading ETF Global Perspectives.

ETFG 21 Day Free Trial:  https://www.etfg.com/signup/quick

_____________________________________________________________
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice.  ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.  In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.

ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision.  ETFG’s opinions and analyses do not address the suitability of any security.  ETFG does not act as a fiduciary or an investment advisor.  While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.


This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors.  Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue.  Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested.  Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate.  Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income of or from that investment to the investor.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.