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.
Thanks for reading ETF Global Perspectives and have a great week!
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.
This publication has been prepared for general guidance on matters of interest only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this publication, and, to the extent permitted by law, ETF Global does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.