Monday, April 5, 2021

2Q 2021 - Balanced Optimism

Monday, April 5, 2021 – For all who celebrate, we wish everyone a belated Happy Passover and Happy Easter! U.S. equity markets concluded the four-day trading week posting gains as a positive outlook drove growth stocks’ momentum into 2Q 2021. Continued optimism surrounding the economic reopening coupled with an acceleration in vaccinations, now reaching 4,000,000 per day, have lifted equity outlooks. While equity markets welcome the economic spending that accompanies the Biden Administration programs, they also seem to recognize the potential tempering effects of the continuing rise in bond yields.

Economic news last week was dominated by a very strong nonfarm payroll report released on Friday, which reflected an increase of 916 000 in March, and an unemployment rate drop from 6.2% to 6.0%. For the week, the DJIA gained 80.33 points to 33,153.21, the S&P 500 rose 45.33 points to break the 4,000 mark at 4,019.87 and the Nasdaq added 341.38 points to close at 13,480.11.

ETFG Quant Movers - Those ETFs who have had the largest weekly change in their ETFG Quant Total Scores.

ETFG Weekly Quant Winners: The three biggest gainers in their ETFG Total Quant Scores were found in the Barclays Women in Leadership ETN (WIL) which gained 11.12 points to 64.29, the Invesco Preferred ETF (PGX) that picked up 7.96 points to 55.86 and the SPDR Wells Fargo Preferred Stock ETF (PSK) which added 7.65 points to an ETFG Quant Total Score of 57.29 for the week.

ETFG Weekly Quant Losers: The three biggest drops in their respective ETF Quant Total Scores were found in the Invesco Financial Preferred ETF (PGF) which dropped 12.02 points to 42.86, the First Trust Mid Cap Core AlphaDEX Fund (FNX) which lost 11.62 points to 38.55 and the iShares U.S. Medical Devices ETF (IHI) which lost 11.20 points to close the week with an ETFG Total Quant Score of 31.84.

Thanks for reading ETF Global Perspectives and have a great week!

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