Monday, March 1, 2021 - In big news over the weekend, the Johnson & Johnson Covid-19, one-dose vaccine received approval and is expected to begin distribution later this week. This may prove supportive for the markets which experienced a volatile last week, ending with weekly losses in all of the major U.S. equity indices.
Despite optimism in recent weeks stemming from the potential for new fiscal stimulus, the Fed’s easy-money policies and the vaccine rollout, equities appeared reactive to the recent, sharp rise in bond yields as the 10-year Treasury broke through 1.50% on Thursday. Investors now seem concerned that the Federal Reserve may raise interest rates earlier than previously expected due to concerns around inflation and its impact on future economic growth.
For the week, the DJIA lost 561.95 points to close at 30,932.37, the S&P 500 dropped 95.56 to 3,811.15 and the Nasdaq closed at 13,192.35 shaving 682.12 points for the week.
ETFG Quant Movers - Those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings.
ETFG Weekly Quant Winners: The three biggest gainers in their ETFG Total Quant Scores were found in the Fidelity MSCI Consumer Discretionary Index ETF (FDIS) up 10.98 points to 51.77, the SPDR MSCI EAFE StrategicFactors ETF (QEFA) up 10.44 points to 44.06 and the WBI Power Factor High Dividend ETF (WBIY) which gained 10.21 to a Total ETFG Quant Total Score of 47.11.
ETFG Weekly Quant Losers: The three biggest drops in their respective ETF Quant Total Scores were found in the Barclays Return on Disability ETN (RODI) which lost 16.06 points to 45.17, the iShares MSCI BRIC ETF (BKF) dropping 13.71 points to 26.81 and the iShares MSCI All Country Asia ex Japan ETF (AAXJ) which shaved 9.88 points to an ETFG Quant Total Score of 35.10.
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