Monday, July 10, 2017

Summer Time

Monday, July 10, 2017 - With a half day last Monday and Fourth of July on Tuesday, trading volumes were significantly lower this past week perhaps exacerbating a rough day on Thursday for the S&P as it recorded its worst loss since May.  On Friday, the Department of Labor reported that in June the US had added 220,000 jobs which was higher than expected, average hourly earnings had increased and that US manufacturing activity had hit its highest level in 3 years. On the back of this news, the S&P rebounded to end the week with a small gain of .1% - the Dow Jones Industrial rose .3% and the NASDAQ gained .2%.  Financials and Industrials were the best performing sectors with gains of 1.54% and .81% respectively.  Energy and Real Estate were the 2 worst performing sectors losing 1.4% and 1.52%.

This week it was announced that Bankrate (RATE) agreed to be acquired for $1.4 billion by Red Ventures, a privately held company. Using the ETF Global exposure report we can see the biggest holders of RATE. The top 3 holders of (RATE) are PBS, Powershares Dynamic Media Portfolio, which holds 3.7%, Global X Fintech Thematic ETF, which holds 1.55%, and XITK, SPDR Factset Innovative Tech ETF, which holds 1.2%.

The ETFG Select List had 3 new top ETFs in their respective categories that weren’t in the top 3 last week. PEJ, Powershares Dynamic Leisure & Entertainment Portfolio, in the Consumer Discretionary category moved from 4th last week to first this week, INDF, iShares Edge MSCI Multifactor Industrials ETF in the Industrials category went from 5th to first, and  EEM, iShares MSCI Emerging Markets ETF, in the Emerging Markets category moving up from fourth last week.

The ETFG Quant Movers section on the biggest winners side, we have FITS, Health and Fitness ETF, which has a 24.64% score increase, RTH, Van Eck Vectors Retail ETF, a 21.71% increase, and LIT, Global X  Lithium ETF, which gained 20.42%. The biggest losers this week were OLD, The Long-Term Care ETF, which lost 18.18%, GREK, Global X MSCI Greece ETF, which lost 16.61%, and GRES, IQ Global Resources ETF, which lost 15.58%.

ETFG Fund Flows - In our Fund Flow section we can get an idea of which ETFs are getting the most inflows and outflows for the month. This month the top 3 ETFs with the most inflow IVV, IEFA, and AGG which added $3B, $3B and $2.3B respectively. The greatest outflows for last month were from QQQ, IWD, and GDX which had outflows of $2.8B, $740M and $660M.

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