Monday, August 27, 2018

Hazy, Hot and Humid

Monday. August 27. 2018 – Equity markets powered their way to gains last week as optimism over still-solid fundamentals outweighed the headline risks surrounding the latest political turmoil in Washington. The current bull market passed the 1990’s rally to become the longest on record, stretching more than 3,450 days. The broad market has more than quadrupled since the depths of the global financial crisis in March 2009. In related market news, Fed Chairman Powell’s comments from Jackson Hole last week supported the view that the U.S. Central Bank will continue to raise rates at a gradual pace, helping to extend the bull market. For the week, the DJIA was up 121.03 points, the S&P 500 climbed 24.56 points, while the NASDAQ Composite rose 129.65.

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

ETFG Quant Winners: PIN (Invesco India ETF) jumped 11.13 points to 48.48, IEUR (iShares Cores MSCI Europe) rose 10.07 points to 63.35, NFTY (First Trust India NIFTY 50) climbed 9.91 points to 56.98, EWI (iShares MSCI Italy ETF) increased 9.45 points to 64.04, while SLX (VanEck Vectors Steel Index Fund) rounds out the top five with an 8.96 point increase moving to 51.34.

ETFG Quant Losers:  DLN (WisdomTree U.S. LargeCap Dividend Fund) dropped 9.34 points to 36.34, VBK (Vanguard Small-Cap Growth ETF) fell 8.58 points to 35.53, IWB (iShares Russell 1000 ETF) lost 7.76 points to move to 38.80, IPOS (Renaissance International IPO ETF) fell 6.95 points to 51.65, and ONEO (SPDR Russell 1000 Momentum Focus ETF) rounds out the largest five drops with a 6.85 point hit at 52.43.

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 Financials Sector portion when comparing this week’s Select List to last. KIE (SPDR S&P Insurance ETF) remains in the top spot in this week’s Select List while FTXO (First Trust Nasdaq Bank ETF) rose from the #3 spot to the #2 spot for this week. As we continue to keep an eye on this record-breaking bull run financially focused ETFs will continue to be an important indicator of the current state of the markets both domestically and abroad.

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