3 Top Sector ETFs Of Last Week
Zacks Investment Research | Oct 28, 2019 08:00AM ET
Last week was a decent one for Wall Street with the S&P 500, the Dow Jones and the Nasdaq adding 0.3% to 0.6%. Notably, the S&P 500 and the Nasdaq are near their 52-week high levels. Investors should note that majority of last week’s market movement was based on Q3 earnings releases, U.S.-China trade optimism, oil price rally and chances of policy easing in the Fed’s October meeting.
Against this backdrop, we highlight a few winning sector ETFs.
Energy
U.S. West Texas Intermediate and international-benchmark Brent crude oil futures closed at their USO and United States Brent Oil Fund LP (ASX:BNO) advanced about 4.5% and 4.1%, respectively, in the past five days (as of Oct 25, 2019).
A IEO and VanEck Vectors Oil Services ETF (CA:OIH) . These funds added in the range of 6% to 7.2% last week (as of Oct 25, 2019).
Semiconductor
Last week has been a volatile one for the semiconductor space. At the start of the week, semiconductor stocks declined on Texas Instrument’s Time to Buy the Dip in Semiconductor ETFs? ).
Investors should note that the semiconductor space may gain from the 5G boom, smartphone market growth, greater consumer spending on technology, rebounding PC shipments, signs of an improvement to the U.S.-China trade relation. Last but not the least, the upcoming holiday season can also be instrumental in driving the semiconductor space higher as there is a tendency to buy tech devices in Black Friday and Cyber Monday deals.
Online Retail
The retail space started getting prepared for a shorter holiday shopping season this year.Investors should note that “2019 is the shortest possible holiday calendar scenario,” with online deals earlier than ever before .”
Investors must have noticed the trend of gradual rise in online shopping. Though online sales still occupy a less-significant portion of the total U.S. retail sales, the space is growing fast, courtesy of increased usage of smartphones and other mobile Internet devices.
The latest news is that the biggest U.S. mall owner, Simon Property Group (NYSE:SPG) , is Is the Retail Picture Truly Gloomy? ETFs in Focus ).
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