ETF & Mutual Fund Watchlist for November 14, 2018

The Nasdaq led markets lower over the past week as Apple (AAPL) belatedly joined the technology sector sell-off.

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Healthcare beat tech by more than 5 percent. Technology remains the largest sector in many broad market indexes, thus its losses weighed heavily on the overall market.

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Tech-heavy communication services and energy underperformed. Materials, consumer staples and utilities are all up over the past two weeks.

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The energy market saw extreme volatility this week as crude oil set a new record with 12 consecutive down days. West Texas Intermediate crude briefly traded below $55 on Tuesday before rebounding on Wednesday. Crude lost 29 percent in the process. If crude doesn’t meaningfully rebound from here, energy inflation will take a major hit. October’s CPI climbed 0.3 percent, but one-third of that was gasoline prices.

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In contrast to crude oil, natural gas soared to its highest level since 2014. A cold blast across the U.S. powered the rise amid low inventory levels.

Natural gas equities are performing poorly relative to natural gas prices, however, indicating investors don’t believe the price increases will hold through the winter.

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The U.S. and developed markets outperformed emerging markets over the past week. The U.S. Dollar Index rallied more than 1 percent as politics weighed on the euro.

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The Canadian dollar and Mexican peso fell following challenges to NAFTA 2.0. iShares Canada (EWC) made a new 52-week low at the end of October. iShares Mexico (EWW) made one on Tuesday.

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