ETF Scorecard: August 10 Edition

• As vacation season is in full swing, the markets could not be more rattled.

• An ongoing diplomatic rift between the U.S. and Turkey regarding several matters, including the detention in Turkey of a U.S. evangelical pastor, has contributed to a plunge of the lira against the dollar. As some of Europe’s banks have heavy exposure to the region, the euro suffered a blow.

• In the U.S., the employment figures for July slightly disappointed, with the economy adding 157,000 jobs compared to a revised 248,000 in the prior month. Pundits had expected 191,000. The unemployment rate dropped to 3.9% from 4% previously, in line with expectations.

• Average hourly earnings increased by 0.3% month-over-month, compared with a rise of 0.1% in June. Year-over-year, wages are up 2.7% on average, same as in the prior month.

• U.S. non-manufacturing PMI unexpectedly dropped from 59.1 to 55.7 in July, reaching a one-year low.

• China’s trade surplus narrowed dramatically in July due to an increase in imports and an ongoing trade war with the U.S. China’s surplus was $28 billion compared to $41 billion in the prior month. Analysts had expected a surplus of $39 billion.

• Crude oil inventories have whipsawed this summer. For the week ended August 3, stockpiles dropped by 1.4 million barrels, less than analysts had expected. The drop comes after a gain of 3.8 million barrels in the prior week.

• U.S. unemployment claims came in at 213,000 for the week ended August 4, 6,000 lower compared to the prior week.

• The stock market reversed to gains this week, although they were not uniform as rising geopolitical tensions hit some regions harder than others.

• The broad market (SPY A) was the best performer for the week with an advance of 0.90%.

• High Beta (SPHB B-) reported gains of 0.45%, the lowest from the pack.

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• Major indexes were all up.

• Technology equities (QQQ B+) are again in front of the performance table, edging up 1.17% for the week.

• Emerging markets (EEM A-), meanwhile, posted the smallest gains, up 0.25%, as a diplomatic spat between Turkey and the U.S. and trade tensions between the U.S. and China weighed on investor sentiment.

• For the rolling month, Dow Jones (DIA B+) is the best performer with a rise of 2.67%, as it benefited from a string of solid financial results for the second quarter.

• The small-cap index (IWM A-) was the worst performer for the past 30 days, dropping by 0.93%.

To see how these indices performed a week before last, check out ETF Scorecard: August 3 Edition

• Sectors posted mixed performance.

• Hit by falling oil prices, the energy sector (XLE A) is the worst performer for the week with a drop of 0.87%. (XLE A) is also by far the worst performer for the rolling month with a decline of 3.16%.

• Consumer discretionary (XLY A) marginally clinched the status of best performer from the telecom sector (XTL A), gaining 1.76%. Both sectors were in recovery mode after suffering from tough environments.

• Utilities (XLU A) are surprisingly the best performers for the rolling month, up 4.27%.

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• Foreign equities were mixed.

• Russian equities (RSX B) have finally tumbled after weeks of resilience. The U.S. has imposed a new set of sanctions on Russia, in a surprise move that came shortly after President Donald Trump met with his Russian counterpart Vladimir Putin. Further hitting the Russian stock market, oil prices took a dive this week. (RSX B) is the worst performer both for the week and the rolling month, down 4.52% and 8.57%, respectively.

• Chinese stocks (FXI A) have advanced more than 3% this week, as investors cheered Beijing’s stimulus measures in the face of a trade war with the U.S.

• Despite dropping this week consistently, the Brazilian stock market (EWZ A-) remains the best performer for the rolling month, up 5.36%.

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• Commodities were mixed.

• Crude oil (USO B) has fallen 3% this week as investors expect demand to take a hit from the trade war between the U.S. and China. (USO B) is also the worst performer for the rolling month with a decline of more than 8%.

• Natural gas (UNG B-), meanwhile, is the best performer both for the week and the rolling month, up 3.77% and 5.72%, respectively.

• Currencies posted mixed results.

• The U.S. dollar (UUP B) has appreciated 0.44% this week, extending monthly gains to 1.61%. The best performer both for the week and the rolling month, the greenback benefited from a strong domestic economy and relative weakness in other currencies, including the euro and the British pound.

• The British pound (FXB B) is the worst performer both for the week and the rolling month, down 1.28% and 3.33%, respectively, as fears of a no-Brexit deal are intensifying.

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Disclosure: No positions at time of writing.