5 Top-Ranked ETFs Looking Good After a Decent July
Zacks Investment Research | Aug 02, 2021 04:54AM ET
Wall Street witnessed a decent run on the bourses in July amid the delta-variant scares. The S&P 500 rose 2.3% in the last month seeing strength in utilities, health care, real estate and technology spaces. Notably, the Nasdaq Composite index and the Dow Jones Industrial Average also inched up 1.2% and 1.3% in the previous month.
The U.S. GDP grew at a 6.5% annualized rate in the second quarter of 2021, per the Commerce Department’s first estimate (as mentioned in a CNBC article). However, the metric lagged the Dow Jones estimate of 8.4%. Despite missing the estimate, in absolute term, U.S. GDP in second-quarter 2021 came in at $19.4 trillion, exceeding $19.2 trillion recorded in fourth-quarter 2019, the last quarter before the global outbreak of coronavirus.
Commenting on the market conditions, Brian Belski, chief investment strategist at BMO, has also said, “There has been quite a bit of volatility and price choppiness in the market in recent weeks. Increased concerns over the delta variant and its potential implications for reopening momentum seemed to play a key role in the price action, while peak themes related to economic growth, earnings, and policy support also remained an overhang on risk sentiment,” according to a CNBC article. However, the number of new delta-variant cases is being mostly observed among the unvaccinated population.
Studying the present market scenario, let’s take a look at some top-ranked ETFs that investors can consider adding to their portfolio:
Fidelity MSCI Consumer Discretionary Index ETF 5 Hot Equity ETFs of Last Week to Sizzle on Solid Earnings ).
5 Stocks Set to Double
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