Sector & Region Outlook: July 2011
|Ticker||Sector||Forward P/E||Div. Yield|
|*Source: spdrs.com as of 6/30/11|
For investors looking to identify sectors of the U.S. economy that may be poised for relative outperformance, we present the ETF Database sector grid, highlighting the forward-looking price-to-earnings ratios of each of the nine sector SPDRs.
Last month, sector multiples broadly declined as weakness across equity markets sent investors to more risk-averse corners of the market, at least for the first half of the month. Multiples rose modestly in the second half of June, especially in the final week as the markets went on a four day winning streak thanks to declining Greek tensions and more confidence in the American economy. However, the gains in the final days weren’t enough to put the forward P/E levels above last month’s readings, suggesting that stocks are cheaper now than they were at the beginning of the period.
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