For the week, the Dow Jones Industrial Average rose about 322 points up 1.21% closing at 26,922. The S&P 500 gained 1.7% to 2990 and the Nasdaq Composite gained 1.9% finishing at 8161 for the week. This all on news of more dovish signal from the federal reserve and continued hope of an agreement in the trade negotiations between the US and China.
In ETFs, we saw inflows into some of the largest products on the market place. LQD, iShares iBoxx USD Investment Grade Corporate Bond ETF, gained about $4B in assets for the month of July. That was followed by SPY, the SPDRS S&P 500 ETF, which gained over $3.07B in assets. In outflows, and to somewhat of a surprise, we saw money leave IVV, iShares S&P 500 ETF, which lost over $4B in the four trading days of July. That was followed by SHY, iShares 1-3 year treasury bond ETF, which lost over $2.69B, all according to our ETFG Fund Flow Summary.
In the ETFG Quant Movers, we saw international based ETFs gain the most points to their overall scores. The Franklin FTSE Italy ETF, FLIY, and the WisdomTree Japan Multifactor ETF, JAMF, added 14.68 and 14.57 to their overall Quant scores respectively.
On the loser’s side, we saw technology-based ETFs drop points in their overall scores. The ETFMG Drone Economy Strategy, IFLY and the 3D Printing ETF PRNT lost 4.65 and 4.23 to their overall scores respectively.
There was also some great news for the ETF Industry coming at the beginning of the week. Fixed Income based ETFs now have over $1 Trillion in assets, a sign of the industries strength. Many experts believe that this growth in the fixed income space will continue upward as the products become more popular within the insurance space.
We will see if the markets can continue their hot streak throughout the summer, but it will depend on a number of factors. One of the most prevalent is seeing how the trade deal with China continues to move forward. Another is the continued rise in tensions between the US and Iran over the stricter nuclear sanctions that President Trump has imposed on the nation.
From all of us at ETF Global, we hope you had a happy and healthy 4th of July. Thanks 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.