Click Here to view today’s Global Momentum Guide WEEKLY SECTOR MOVERS The Russell 2000 Index advanced 1.09 percent last week and the MSCI EAFE 0.58 percent. The S&P 500 […]
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Month: June 2019
Market Perspective for June 28, 2019
The S&P 500 gained 6.86 percent in June and 3.76 percent for the second quarter. Year-to-date, the index has gained 17.32 percent.
SPDR Financials (XLF) gained 1.40 percent after the Federal Reserve said major banks passed their stress tests, clearing the way for billions in stock buybacks and dividends. SPDR S&P Regional Banking (KRE) advanced 2.77 percent.
Economic data was light this week. New home sales slipped to an annualized pace of 626,000 in May. Economists were looking for 669,000 in sales. The final estimate of first quarter GDP growth was 3.1 percent. Personal income growth was steady at 0.5 percent and beat expectations.
Bond yields were down on the week with the 10-year finishing at 2.00 percent. iShares 20+ Year Treasury (TLT) advanced 1.06 percent. iShares iBoxx Investment Grade Corporate Bond (LQD) and PIMCO Corporate Bond (CORP) rallied 0.61 percent and 0.45 percent. iShares iBoxx High Yield Corporate Bond (HYG) saw a small loss of 0.15 percent.
Crude oil failed to break to the $60 barrier. It finished the week with a small increase of 0.50 percent. SPDR Energy (XLE) advanced 0.27 percent on the week. SPDR S&P Oil & Gas Equipment & Services (XES) bounced 2.95 percent and SPDR Oil & Gas Exploration & Production (XOP) climbed 1.98 percent.
Earnings news was solid. Micron Technology (MU) beat estimate, boosting shares 16.06 percent on the week. VanEck Semiconductors (SMH) rallied 2.87 percent as most chipmakers rose along with Micron.
FedEx (FDX) beat earnings, but it gave weak guidance due to slowing trade. Shares lost 0.70 percent for the week.
The ETF Investor Guide for June 2019
The June Issue of the ETF Investor Guide is NOW AVAILABLE! Links to the June Data Files have been posted below Market Perspective: Low Volatility Funds Outperform Equities rallied to […]
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Market Perspective for June 24, 2019
Equities were mixed on Monday with the Dow Jones Industrial Average gaining 0.03 percent and the S&P 500 Index down 0.17 percent. Sector performance was mixed as well. SPDR Materials (XLB), SPDR Consumer Staples (XLP) and SPDR Technology (XLK) gained 0.42 percent, 0.24 percent and 0.18 percent, respectively. SPDR Energy (XLE), SPDR Consumer Discretionary (XLY) and SPDR Consumer Discretionary (XLY) declined 0.90 percent, 0.48 percent and 0.53 percent.
Consumer confidence for June is out on Tuesday and Friday, with the first from the Conference Board and then the University of Michigan. Durable goods and capex orders from May will be released, along with new home sales. Analysts predict an annualized pace of 669,000 for the latter.
The final GDP revision for the first quarter will be out on Thursday. Economists forecast it will hold steady at 3.1 percent growth.
FedEx (FDX) earnings will be closely evaluated after the close tomorrow, as will the ensuing conference call on Wednesday morning. FedEx has typically had its finger on the pulse of the global economy and their results could forecast expectations for the second half of 2019.
The G20 summit of world leaders will take place this week in Osaka, Japan. Meetings will be held on Friday and Saturday. The main event will be a sideline meeting between President Trump and President Xi.
Cal-Main (CALM), Aerovironment (AVAV), Lennar (LEN), KB Home (KBH), Rite Aid (RAD), General Mills (GIS), Walgreen Boots Alliance (WBA), Nike (NKE), Conagra (CAG) and Constellation Brands (STZ) also report earnings this week.
In ETF provider news, Invesco changed the underlying benchmark for some of its funds on Friday.
The funds began trading on Monday and shareholders were converted to the new shares. For example, Invesco Russell MidCap Pure Growth (PXMG) became Invesco S&P MidCap 400 Momentum (XMMO).
Global Momentum Guide for June 24, 2019
Click Here to view today’s Global Momentum Guide WEEKLY SECTOR MOVERS The Nasdaq increased 3.01 percent last week, the Dow Jones Industrial Average 2.41 percent, the S&P 500 Index […]
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