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02/02/02 No BS Investor Market Update & Rankings

|Includes:CZZ, HDV, iShares U.S. Home Construction ETF (ITB), PSCE, RRGB, SCS, SU, TLRD, XLP, XOP

This is David Cohne, Head Strategist for No BS Investor, with your weekly market update and ETF & Stock Rankings.

Through February 2nd, the S&P 500 is up 5.4% for the year, the Dow Jones Industrial Average is up 4.0%, the Nasdaq is up 9.8% and the EAFE index, which tracks the international markets is up 7.5% for the year. Our No BS ETF Trader model is up 10.4%.

The general market indices were up for the day with the exception of the Dow, which was slightly down. This was due to strong global economic data and the mention of a deal in the works for Greece and its private creditors. In international economic news, manufacturing activity increased heavily in countries such as China, France, Germany and the UK, while here in the U.S., The Institute for Supply Management reported that manufacturing expanded for the 30th consecutive month. The Purchasing Manager's Index grew to 54.1%. In addition, the ADP National Employment Report conveyed that 170,000 private jobs were added in January. All this news led to higher share prices for finance firms such as Bank of America, Wells Fargo and JPMorgan Chase.

In other corporate news, a number of firms did quite well with their earnings results. U.S. Steel grew 0.87% today after their bullish outlook on Tuesday. CommVault Systems, which reported yesterday that profit for the fourth quarter rose 23% (which was better than expected), increased 0.89%. IAC Interactive grew 0.98% after its fourth quarter profit grew 170% while sales grew 32%.

Our Free Weekly Rankings

These rankings reflect our top picks for next week.

For our weekly ETF Rankings, here are our top 5 ranked ETFs of the week.

  1. (NYSEARCA:ITB) iShares DJ US Home Construction
  2. (NASDAQ:PSCE) PowerShares S&P Small Cap Energy
  3. (NYSEARCA:XOP) SPDR Oil & Gas Exploration & Production
  4. (NYSEARCA:HDV) iShares High Dividend Equity
  5. (NYSEARCA:XLP) SPDR Consumer Staples

For our weekly Stock Rankings, here are our top 5 ranked stocks of the week:

  1. (NYSE:CZZ) Cosan Limited
  2. (NYSE:SU) Suncor Energy Inc
  3. (NASDAQ:RRGB) Red Robin Gourmet Burgers, Inc
  4. (MW) The Men's Wearhouse, Inc
  5. (NYSE:SCS) Steelcase Inc.
Please note these are rankings and not suggested portfolio holdings. For more information on model portfolios, please visit http://www.nobsinvestor.com

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: ITB, PSCE, XOP, HDV, XLP, CZZ, SU, RRGB, TLRD, SCS