Monday, July 30, 2018

Tech Crunch?

Monday, July 30, 2018 – Last week saw a bumpy ride for the equity markets that featured a divergence within the Tech Sector countered by continued strong earnings across most other earnings reports. While Amazon and Alphabet beat earnings estimates and moved higher, on Thursday, Facebook experienced the largest one-day loss ever in market capitalization after warning the Street that growth was slowing. Also pressuring the Tech sector were Intel and Twitter with disappointing earnings reports.  For the week, the DJIA added 1.6%, the S&P 500 climbed .6% and the Nasdaq rose 1.1%.

ETFG Quant Movers – those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings: 

·    ETFG Quant Winners: PEZ (Invesco DWA Consumer Cyclicals Momentum ETF) jumped 13.58 points to 45.85, EELV (Invesco S&P Emerging Markets Low Volatility ETF) rose 11.67 to 55.97 and PIN (Invesco India ETF) improved to 44.17 with an increase of 10.54 points in its ETFG Quant Rating.

·    ETFG Quant Losers: BTAL (AGFiQ US Market Neutral Anti-Beta Fund) dropped 9.75 points to 26.93, IAI  (iShares U.S. Broker-Dealers & Securities Exchanges ETF) lost 9.10 to 37.89 and FIEG (FI Enhanced Global High Yield Exchange Traded Notes) oved lower by 8.28 points to  46.79.

ETFG Weekly Select List - the 5 most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model. We’d like to highlight some substantial movement in the Sector and Strategy portion when comparing this week’s Select List to last. We saw 4 new funds that were unranked last week claim a spot in the top 2 through 5 positions the Broad Equity category. First Trust Chindia ETF (FNI), AdvisorShares Dorsey Wright ADR ETF (AADR), iShares MSCI Brazil ETF (EWZ) and iShares MSCI Mexico ETF (EWW) made an appearance respectively.

We saw similar movements in the Technology Sector. BlueStar Israel Technology ETF (ITEQ), iShares Edge MSCI Multifactor Technology ETF (TCHF), First Trust Nasdaq Semiconductor ETF (FTXL) and First Trust Nasdaq Cybersecurity ETF (CIBR) secured 2nd through 5th respectively. These four funds have seen a steady returns but this sector will become extremely interesting in the months to come with the impending Global Industry Classification Standards (GICS) reorganization.

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