Top ETF Areas of Last Week
Zacks Investment Research | Mar 30, 2020 01:00AM ET
After huge selloffs over the past few days, the S&P 500, the Dow Jones and the Nasdaq rallied last week on the $2-trillion U.S. stimulus support and the Fed’s announcement of corporate bond buying. The three key U.S. equity gauges gained 10.3%, 12.8% and 9.1%, respectively, in the week. Several global markets followed suit.
Below we highlight a few investing areas that outperformed last week.
Marijuana
Pot stocks bounced back. It’s been a volatile journey for marijuana stocks in the past year. Earnings weakness, regulatory issues, “Are Marijuana Stocks & ETFs Coronavirus-Proof? ).
However, essential services ” along with other health facilities.
The Cannabis ETF Are Marijuana Stocks & ETFs Coronavirus-Proof? ).
Colombia
The U.S. dollar ETF Invesco DB US Dollar Index Bullish Fund ICOL each gained more than 30% in the week.
Palladium
Risk-on trade sentiments helped palladium prices week. Notably, South Africa noted that it will continue to process platinum group metals (PGMs) during its 21-day coronavirus lockdown, PALL added 34.2% last week.
Airlines
Airlines companies were among the most-battered zones or virus-hit areas. U.S. Global Jets ETF JETS recorded a monthly loss of about 43% compared with about 21% retreat in the S&P 500.
The news of U.S. airlines being eligible for a combined $62-billion in federal loans and direct cash assistance to meet their payrolls boosted the space last week. JETS were up more than 27% over the time frame (read: Airlines Stocks & ETF Fly Higher on Stimulus Package ).
Gold Miners
Gold saw the SGDJ gained 22.8% last week.
Aerospace & Defense
The space rallied on Boeingnews. Notably, Boeing (NYSE:BA) takes about 14% of the fund iShares U.S. Aerospace & Defense ETF (ITA). Per a Reuters report, Boeing plans to resume 737 MAX production by May, ending the prolonged halt following the deadly MAX jet crashes. The very news lifted investors’ sentiments.
The U.S. government stimulus deal “includes $17 billion in loans earmarked for US Stimulus Should Support These 7 ETFs ).
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