Monday, April 12, 2021

Strong Market Performance Emanates From Continuing Themes

Monday, April 12, 2021 – U.S. equity markets continued their strong performances last week including another, all-time closing high for the S&P 500. Better than expected economic reports, most notably a firmer than expected Producer Price Index and a better-than-expected March, Non-Farm Payroll report, drove the positive equity markets’ activity, reinforcing investor expectations for a robust and comprehensive economic recovery.

The confluence of recent themes such as the accelerating distribution of Covid vaccinations, the potential positive impact of the Biden Administration’s economic relief policies and a supportive Fed remain constructive dynamics for U.S. equity prices. On the interest rate front, the yield on the closely watched 10 Year U.S. Treasury Note remained in a tight trading range that landed on 1.66% at the end of the week, slightly down from recent weeks’ yield.

For the week, the DJIA gained 647.39 to 33,800.60, the S&P 500 reached an all-time high gaining 108.93 points to close the week at 4,128.80 and the Nasdaq picked up 420.08 points to close the week at 13,900.19.

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 Fidelity NASDAQ Composite Index Tracking Stock ETF (ONEQ) which added 15.80 points to 52.92, the Barclays Return on Disability ETN (RODI) which gained 10.27 points to 62.42 and the Barclays ETN+ Shiller CAPETM ETN (CAPE) which picked up 8.02 points to close the week with an ETFG Quant Total Score of 62.29.

ETFG Weekly Quant Losers: The three biggest drops in their respective ETF Quant Total Scores were found in the Barclays Women in Leadership ETN (WIL) dropping 13.27 points to 51.03, the iShares MSCI Indonesia ETF (EIDO) which lost 12.90 points to 40.52 and the iShares MSCI Singapore ETF (EWS) which gave back 9.37 points to lose the week with an ETFG Quant Total Score of 50.09.

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

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