Gains might have been even stronger if not for the week’s major headwind, concerns that new tariffs on steel and aluminum imports might lead to a broader trade war. Not to mention Chief Economic Advisor Gary Cohn announced his resignation early last week. Market watchers saw Cohn's departure as a bad omen for the White House's economic policy. However, stocks maintained the course Thursday afternoon following President Trump's proclamation that steel and aluminum tariffs would exclude imports from Canada and Mexico. Markets continued rising on Friday following February's Jobs report that showed strong gains, adding 313,000 jobs, much higher than the 205,000 expected. The Employment in Construction category rose by 61,000 in February, a key indicator in determining the health of our economy.
The technology-heavy Nasdaq Composite Index fared best and managed to set a new intraday high on Friday. The Small Cap Russell 2000 Index also performed especially well. Along with Information Technology shares, Financials, Industrials, Business Services and Materials led the S&P 500 Index’s gains, while Utilities lagged. Following last week's rally, the S&P 500 had gained 3.5%. Economically-sensitive groups like Financials (+4.4%), Technology (+4.3%), Industrials (+4.4%) and Materials (+4.1%) were the top-performing sectors, while sectors like Consumer Staples (+1.7%), Utilities (+0.8%), and Telecom Services (+1.8%) showed relative weakness. It seems only natural that top performer ETFs included iShares Edge MSCI Multifactor Technology ETF (TCHF), John Hancock Multifactor Industrials ETF (JHMI) and Fidelity MSCI Materials Index ETF (FMAT) up 4.7%, 4.78% and 3.62% for the week respectively.
As you would imagine, the ETF Global Quant Movers reflected these trends. Top gainers included WBI SMID Tactical Value Shares (WBIB), AlphaMark Actively Managed Small Cap ETF (SMCP) and IQ 50 Percent Hedged FTSE Europe ETF (HFXE) gaining an astounding 35.07%, 27.25%, and 23.69% respectively in their ETFG Quant Ratings. Losers for the week included SPDR S&P Semiconductor ETF (XSD), iShares U.S. Healthcare Providers ETF (IHF) and PowerShares NASDAQ Internet Portfolio (PNQI). These funds saw a percentage loss of 19.35%, 19.14%, and 16.45% respectively in their Quant Ratings.
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.
Post a Comment
Note: Only a member of this blog may post a comment.