Best & Worst ETF Areas Of Last Week
Zacks Investment Research | Dec 08, 2019 08:00PM ET
Last week was a volatile one for the stock market as Wall Street was caught between trade tensions and upbeat jobs data as well as solid holiday season buying. The S&P 500 lost 0.7%, the Nasdaq shed about 1.1% and the Dow Jones retreated about 1.3% in the week.
Best ETF Areas
Chile
iShares MSCI Chile Capped ETF (WA:ECH) added 8.1% last weekas Chile’s stock exchange logged its highest one-day gain in 11 years after lawmakers agreed on Dec 6 to hold a referendum on changing the country’s dictatorship-era constitution, giving in to protesters agitation over inequality and social injustice, per Reuters .
Oil & Energy
Crude oil prices gained last week as top producers at the OPEC meeting came up with much deeper output cuts Why These ETFs Under $20 Seem Solid Picks for 2020 ).
SPDR S&P Oil & Gas Equipment & Services (NYSE:XES) ETF USO (up 5.5%),Invesco DB Oil Fund (TSX:DBO) (up 5.3%), iPath Series B S&P GSCI Crude Oil Total Return Index ETN (ASX:OIL) (up 5.8%) and UBS ETRACS S&P GSCI Crude Oil Total Return Index ETN (ASX:OIL) (up 4.8%) are winners from last week.
Brazil
Analysts are betting big on Brazil now. The director of DoubleLine Capital's International Fixed Income team, “EWZ added 3.8% last week.
Worst ETF Areas
Cannabis
Marijuana stocks have been under pressure of late owing to downbeat earnings from sector behemoths. However, shares of marijuana companies rose on Nov 21 after a sponsors of the bill warned that the Senate was unlikely to approve it any time soon.
CNBC’s Jim Cramer believes that “companies need to close, funding needs to dry up, mergers must occur. Until then, Marijuana ETFs Bounce Back: Can the Rally Last? ).
Amplify Seymour Cannabis ETF TOKE (down 3.9%) were among the ones that lost ground.
Greece
Global X MSCI Greece ETF per xtf.com ), probably due to overvaluation concerns. The fund added 41% this year versus 24.2% of the S&P 500.
Cloud Computing
WisdomTree Cloud Computing Fund WCLD retreated 3.4% last week. The underlying BVP Nasdaq Emerging Cloud Index is an equally weighted Index, designed to measure the performance of emerging public companies focused on delivering cloud-based software to customers.
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