Major equity indexes quietly inched higher all week as a quiet scene on the economic data reporting front left the door open for the bulls following last week’s short-lived tumble. With no major developments taking place overseas, investors’ confidence returned as they were able to focus more on earnings season at home; upbeat earnings across the tech sector from Apple, Microsoft, and Facebook, spurred buying interest and the S&P 500 Index advanced closer and closer to the psychologically important 2,000 level [see also How Well Do Defensive ETFs Actually Work?].
To help investors keep up with markets, we present our ETF Scorecard, which takes a step back and looks at how various asset classes across the globe are performing. For most of the return comparisons below, we reference trailing 1-week and trailing 1-month returns; this offers a good insight into the prevailing sentiment in the markets by capturing the performances across short-term and longer-term time intervals [for more ETF news and analysis subscribe to our free newsletter].
Risk Appetite Review
The bulls returned to Wall Street after taking a bit of a breather during the previous week, and High Beta stocks charged ahead of the pack:
Major Index Review
The “Risk On” theme is further evidenced as emerging markets took the lead for the first time in a while; small caps also rebounded, although they still remain in negative territory from a longer-term perspective.
Domestic Sector Review
Health care stocks are in the lead over the trailing five-day period, although Technology stocks remain the biggest winners from a monthly perspective by far:
Sector P/Es were mixed over the last week; five of the sectors saw their pricing multiples inch higher, while the other four saw small declines:
Foreign Equity Review
China and Brazil equities took the lead over the past five days; Russia remains the worst performer from a monthly perspective following the steep sell-off seen overseas in the previous week:
Asia-Pacific and Latin America equities saw the biggest improvements in their valuations over the past week:
Emerging market bond yields saw the biggest depreciation as “Risk On” appetites spread across fixed-income assets amid a rebound on the equity front:
Copper and Ags were the only commodities to post positive returns over the past five-days; natural gas prices are the most beat down from a monthly perspective by far:
Emerging Markets currencies followed by the Aussie dollar were the biggest winners in the currency market over the past five-days:
*All data as of market close 7/24/2014.
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Disclosure: No positions at time of writing.