The First Trust Low Duration Strategic Focus ETF is seeing unusually high volume in afternoon trading Monday, with over 298,000 shares traded versus three month average volume of about 68,000. Shares of LDSF were up about 0.1% on the day.
In trading on Monday, the First Trust Materials AlphaDEX Fund ETF is outperforming other ETFs, up about 1.4% on the day. Components of that ETF showing particular strength include shares of Cleveland-cliffs, up about 3.7% and shares of Reliance Steel & Aluminum, up about 3
Fixed income markets have been through a massively turbulent period so far this year. The Bloomberg Global Aggregate and Bloomberg U.S. Treasury indexes have both hit historical lows. As investors are selling off high-risk assets, they’re also questioning the role of fixed income in their portfolios. While things seem dire for fixed income, investors can’t [...] Read more at ETFtrends.com.
Stock markets had opened higher Monday on signs of a U.S. slowdown pushing Treasury yields down all along the yield curve. The ISM's purchasing managers index fell by more than expected from 52.8 in August to 50.9 in September. Yet the early week rally did not last long. The Labor Department's closely watched employment report dampened investors’ enthusiasm three days later. Nonfarm payrolls increased by 263,000 jobs in September after rising 315,000 in August. The report also showed the jobless rate fell to 3.5% last month, below expectations of 3.7%. As a result, the Fed will likely continue with its monetary tightening plan until the economy loses momentum. New York President John Williams reiterated that more rate hikes were needed to tame sticky inflation.
Major equity indices wiped out most of the gains seen on Monday and Tuesday. The VIX index remained virtually unchanged over the week (31.36), a threshold indicating serious unease.
Despite the sudden drop in risk appetite, the main Wall Street indexes managed to snap a three-week losing streak. The Dow Jones Industrial Average gained 1.99% week-over-week, or 571 points (down 19.38% year-to-date). The Nasdaq was up 0.73% (down 31.91% YTD) and the S&P 500 rose 1.51% (down 23.64% YTD).
European stocks also ended a week of wild market gyrations in the green with the MSCI EMU up 1.34% (down 22.99% YTD) and the FTSE up 1.41% (down 5.33% YTD). In Asia, Japan’s Nikkei rose 4.55% (down 5.82% YTD) while the Hang Seng advanced about 3% (down 24.18% YTD) though a COVID-19 resurgence has raised concerns over more lockdowns in China.
Energy sector shines again
WTI crude oil prices jumped 16.54% over the week, offsetting the losses suffered since the beginning of September. Despite pressure from the U.S. to pump more, the OPEC+ alliance announced a 2 million barrels a day cut in oil production Wednesday (i.e. approximately 2% of global supply). Energy sector stocks skyrocketed on the news (+13.86%, best weekly performance since November 2020). The Energy Select Sector SPDR Fund (“XLE”) with $38.7bn under management was up 14.57%. Energy remains the sole S&P sector in positive territory this year (+48.82%).
Industrials (+2.86% week-over-week) and materials (+2.15%) fared well, but far behind energy. By contrast, most defensive sectors started the month on a weaker footing, falling for the fourth week in a row. Real estate was the worst performer (-4.15%), as higher interest rates continue to affect REITs. The same was true for utilities (-2.63%). Consumer staples edged down 0.40%.
Cannabis funds on the rise
Cannabis & Psychedelics were the best performers among the Trackinsight themes (+27.28% over the week). Though marijuana ETFs have been put through the wringer since the beginning of the year, they rebounded sharply this week amid rising demand in the U.S. (+33% expected from 2021) as evidenced by the performance posted by the AdvisorShares Pure US Cannabis ETF (“MSOS”, +32.92% with $664.5mio under management – best cannabis fund of the week).
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares TIPS Bond ETF (Symbol: TIP) where we have detected an approximate $168.8 million dollar outflow -- that's a 0.6% decrease week over week (fr
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the The Consumer Discretionary Select Sector SPDR Fund (Symbol: XLY) where we have detected an approximate $232.1 million dollar inflow -- that's a 1.6%
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares U.S. Home Construction ETF (Symbol: ITB) where we have detected an approximate $90.4 million dollar outflow -- that's a 7.0% decrease week o
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Core S&P 500 ETF (Symbol: IVV) where we have detected an approximate $637.4 million dollar inflow -- that's a 0.2% increase week over we
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares 3-7 Year Treasury Bond ETF (Symbol: IEI) where we have detected an approximate $193.4 million dollar inflow -- that's a 1.7% increase week o
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Bloomberg High Yield Bond ETF (Symbol: JNK) where we have detected an approximate $868.0 million dollar inflow -- that's a 17.9% increase week
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the iShares MSCI Emerging Markets ETF, where 15,750,000 units were destroyed, or a 2.7% decrease week over week. Among the largest underlying
Comparing units outstanding versus one week ago at the coverage universe of ETFs at ETF Channel, the biggest inflow was seen in the SPDR Portfolio Developed World ex-US ETF, which added 14,200,000 units, or a 3.6% increase week over week. Among the largest underlying component
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Gold Miners ETF (Symbol: GDX) where we have detected an approximate $164.8 million dollar inflow -- that's a 1.7% increase week over week in outstan
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 2000 Growth ETF (Symbol: IWO) where we have detected an approximate $105.6 million dollar inflow -- that's a 1.2% increase week over
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR Portfolio Intermediate Term Treasury ETF (Symbol: SPTI) where we have detected an approximate $106.3 million dollar inflow -- that's a 2.9% inc
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itsel
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itsel
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itsel
XP Inc., a leading technology-driven platform and trusted provider of low-fee financial products and services in Brazil, has sought to transform the Latin American market for local investors by providing greater access and transparency to innovative investment vehicles with a glo
Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itsel
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