Monday, June 7, 2021 – With a holiday shortened week, the three major, U.S. equity indices managed minor gains last week. The DJIA was up 227 points (.7%) to 34,756, the S&P 500 gained 26 points (.6%) to 4,230 and the Nasdaq picked up 66 points (.5%) to close the week at 13,815.
With a quiet start to the week, the Energy sector lead the way as the price of oil rallied to its highest level since mid-October 2018. Sectors like technology, communication services, and consumer discretionary felt pressure as the market reacted to a weaker than expected Employment report for May. On the economic front, the G-7 neared an agreement on a 15% global minimum corporate tax as the Biden administration further negotiated an infrastructure spending package with Republicans.
ETFG Quant Movers - Those ETFs who have had the largest weekly change in their ETFG Quant Total Scores.
ETFG Weekly Quant Winners: The Invesco Dynamic Leisure and Entertainment ETF (PEJ) gained a whopping 41.71 points to 96.27, the ETRACS Alerian MLP Index ETN Series B (AMUB) gained 14.57 points to 58.21 and the Barclays ETN+ Select MLP ETNs (ATMP) added 14.51 points to an ETFG Total Quant Score of 55.93.
ETFG Weekly Quant Losers: The ARK Genomic Revolution Multi-Sector ETF (ARKG) dropped 11.09 points to 44.37, the Schwab US Small-Cap ETF (SCHA) dropped 9.44 points to 33.49 and the Oppenheimer S&P SmallCap 600 Revenue ETF (RWJ) lost 7.65 points to an ETFG Quant Total Score of 52.27.
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