Sun, Sep. 27, 8:59 AM
- The $8B iShares Nasdaq Biotechnology ETF (NASDAQ:IBB) fell 4.9% on Friday and 13% for the week - its worst weekly performance since the height of the financial panic seven years ago. Many biotech ETFs eat the same cooking - Gilead (NASDAQ:GILD), Amgen (NASDAQ:AMGN), Biogen (NASDAQ:BIIB), and Regeneron (NASDAQ:REGN) among the popular names - and FBT, XBI, and BBP fell in amounts similar to IBB.
- The news flow was relatively quiet late in the week, but Hilary Clinton's promise Monday to clamp down on drug prices set things in negative motion for the momo sector.
- Barron's Chris Dieterich reminds that a flood of biotech IPOs in recent years has filled the small cap universe with these highly speculative names, and biotech now makes up 7% of the iShares Russell 2000 Index (NYSEARCA:IWM). Indeed. The IWM fell 3.7% for the week, nearly tripling the decline of the S&P 500.
- ETFs: IWM, TZA, TNA, UWM, VB, VBK, URTY, SCHA, TWM, IWO, RWM, SRTY, VTWO, RCG, JKJ, VTWG, TWOK, FYX, JKK, EWRS, ZSML, FYC, SMLL, RYRSX
Wed, Jul. 8, 7:19 AM
- Despite the best efforts of Beijing to prop up share prices, the Shanghai Composite fell another 5.9% overnight, pulling down Hong Kong and Japan by similar amounts.
- Europe is enjoying about a 1% bounce after two days of sharp losses.
- U.S. stock index futures are mostly lower by about 0.65%, but the Russell 2000 (NYSEARCA:IWM) is down 0.9%
- Gold and crude oil are also seeing small bounces after a rough few sessions, and the 10-year Treasury yield is down four basis points to 2.22%.
- ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, IVV, UPRO, PSQ, SPXU, TQQQ, SPXL, RSP, QID, SQQQ, QLD, DOG, DXD, RWL, UDOW, EPS, SDOW, DDM, VFINX, BXUB, QQEW, QQQE, SPLX, SFLA, BXUC, QQXT, SPUU, UDPIX, OTPIX, RYARX
Tue, May 12, 11:28 AM
- Touching as high as 2.36% earlier in the session, the 10-year Treasury yield - perhaps spooked by an early dive the stock market averages - has tumbled all the way back to 2.26%, down two basis points on the session.
- The Dow (DIA -0.3%), S&P 500 (SPY -0.3%), Nasdaq 100 (QQQ -0.4%), and Russell 2000 (IWM -0.4%) have all rebounded alongside.
- Europe remains lower by about 1% as yields there - while off their highest levels - remain up on the day.
- TLT +0.4%, TBT -0.8%
- ETFs: TBT, TLT, TMV, TBF, EDV, TMF, TTT, ZROZ, TLH, SBND, VGLT, UBT, DLBS, TLO, TENZ, LBND, DLBL, TYBS, VUSTX
Fri, May 1, 4:12 PM
Mon, Apr. 6, 7:07 AM
- DJIA, S&P 500, and Nasdaq 100 futures are all lower by about 0.75% - roughly the spot we left them on Friday morning after the big jobs miss. Russell 2000 (NYSEARCA:IWM) futures are down 1%.
- The 10-year Treasury yield is down to 1.83% vs 1.90% ahead of the jobs number on Friday.
- Meanwhile, commodities are on the move higher, led by gold's 1.5% gain to $1,219 on ounce and oil's 3% advance to $50.61 per barrel.
- Previously: Job gain of just 126K in March (April 3)
- ETFs: SPY, QQQ, DIA, SH, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, SPXL, RSP, QID, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, SPLX, BXUC, SFLA, QQXT, SPUU
Oct. 31, 2014, 4:17 PM
Oct. 17, 2014, 4:20 PM
Oct. 15, 2014, 3:08 PM
- Way out in front on the way down, might the Russell 2000 (IWM -0.4%) lead the path back up? An afternoon move higher has the small-cap index down just 0.25% after being off nearly 2%.
- The Dow (NYSEARCA:DIA) has moved 170 points off of its low, now down 1.6%, and the Nasdaq 100 (NASDAQ:QQQ) - lower by nearly 3% at one point - is off just 1.25%.
- Small-cap ETFs: IWM, TZA, TNA, IWC, UWM, VB, IJR, SLY, RWJ, URTY, SCHA, TWM, RWM, SRTY, SAA, DWAS, VTWO, VIOO, SDD, PZI, SBB, FDM, RSCO, JKJ, WMCR, FYX, EWRS, XSLV, TWOK, SMLV, PXSC, CSF
Oct. 12, 2014, 7:57 PM
- There's no bounce yet from last week's steep decline as S&P 500, Nasdaq 100 and DJIA futures are all lower by 0.5% and the Russell 2000 by 0.9%.
- Money continues to flow into fixed income, with the 10-year Treasury yield down three basis points to 2.28%, and gold is higher by $10 per ounce to $1,232.
- Speaking at the IMF's annual meeting over the weekend, new Federal Reserve Vice Chairman Stanley Fischer warned of "further bouts of volatility" as markets come to grips with the idea of the Fed's first rate hike since 2006, but he doesn't expect tighter monetary policy in the States to damage the international economy.
- ETFs: SPY, QQQ, SH, DIA, IWM, TZA, TNA, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, UWM, TQQQ, SPXL, RSP, QID, SQQQ, DOG, QLD, DXD, RWL, EPS, URTY, UDOW, TWM, SDOW, DDM, RWM, SRTY, BXUB, VTWO, QQEW, QQQE, SPLX, SFLA, BXUC, QQXT, EWRS, TWOK, SPUU
Oct. 10, 2014, 7:16 AM
- S&P 500 (NYSEARCA:SPY) and DJIA (NYSEARCA:DIA) futures are lower by 0.5%, Nasdaq 100 (NASDAQ:QQQ) by 0.9%, and Russell 2000 (NYSEARCA:IWM) by 0.8%, as yesterday's tumble rolls worldwide.
- Europe's Stoxx 50 (NYSEARCA:FEZ) is down 1.6%, led by a 2% plunge in Germany (NYSEARCA:EWG), and the Hang Seng's (NYSEARCA:EWH) 1.9% fall was the largest in Asia overnight.
- The 10-year Treasury yield is off one basis point at 2.30% and gold is up $17 per ounce to $1,223.
- ETFs: SPY, QQQ, SH, DIA, SSO, SDS, VOO, PSQ, IVV, SPXU, UPRO, TQQQ, SPXL, RSP, QID, SPXS, SQQQ, DOG, QLD, DXD, RWL, EPS, UDOW, SDOW, DDM, IWB, BXUB, QQEW, QQQE, VONE, SPLX, SFLA, BXUC, QQXT, ROLA, ONEK, SPUU, EWRI
Oct. 9, 2014, 4:13 PM
- Today's 2.6% decline in the Russell 2000 (NYSEARCA:IWM) stands against 2% drops in the S&P 500 and Nasdaq; the small-cap index is now off 8.1% YTD, and lagging the S&P 500 by 1,230 basis points.
- The Russell has now also moved into negative territory on a year-over-year basis.
- ETFs: IWM, TZA, TNA, UWM, URTY, TWM, IWN, IWO, RWM, SRTY, VTWO, UKK, VTWG, EWRS, TWOK, VTWV, SKK, UVT, SJH
Sep. 22, 2014, 2:55 PM
- As income favorites, business development companies often catch a bid during broader market selloffs (and bond market rallies), but the small caps (IWM -1.3%) are bearing the brunt of today's selling and the BDCs tend to fall into the that sector (though excluded from Russell indices).
- Fifth Street Finance (FSC -1.1%) has a market cap of $1.3B; Main Street Capital (MAIN -2.6%) - market cap of $1.4B; Apollo Investment (AINV -2%) - $2B; Triangle Capital (TCAP -1.3%) - $730M; Ares Capital (ARCC -0.4%) - $5.1B. Hanging in there better than the rest is Prospect Capital (PSEC -0.1%), with a $3.45B market cap.
- ETFs: BDCL, BDCS, BIZD
Sep. 19, 2014, 2:41 PM
- There's not a lot of action in the large cap averages this session, but the Russell 2000 (IWM -1.1%) continues to shed ground both absolutely and relative to the S&P 500, and has now turned negative for the year - it's lower by 1.1% YTD, ceding about 1000 basis points to the S&P,
- Maybe bearish, but probably bullish for those with a contrarian streak, technicians are starting to warn about the dreaded "Death Cross" - the 50-day moving average moving below the 200-day moving average. Ryan Detrick points out 19 instances since 1988 where the Russell 2000 has completed a Death Cross - it's tended to be bearish in the very short-term, but bullish over longer periods.
- ETFs: IWM, TZA, TNA, IWC, UWM, VB, IJR, SLY, RWJ, URTY, SCHA, TWM, RWM, SRTY, SAA, DWAS, VTWO, VIOO, SDD, SBB, PZI, FDM, JKJ, RSCO, WMCR, XSLV, FYX, EWRS, TWOK, SMLV, PXSC, CSF
Sep. 9, 2014, 3:11 PM
Jul. 10, 2014, 7:12 AM
- S&P 500 (SPY), Nasdaq 100 (QQQ), and DJIA (DIA) futures are all off about 0.9% and Russell 2000 (IWM) down 2% as trouble brews in the EU periphery.
- Banco Espirito Santo - Portugal's largest listed bank - is off another 16% as its parent reportedly considers bankruptcy protection unless a deal can be worked out with creditors. Portugal broad market is down another 4.1%, bringing its 7-session slump to 11%.
- Previously: Portugal tumbles on bank worry
- Europe's Stoxx 50 (FEZ) is down 2%, led by Italy (EWI) -2.5% and Spain (EWP) -2.6%.
- The 10-year U.S. Treasury yield is down four basis points to 2.51% and gold catches a serious bid, up $20 per ounce to $1,344.
- ETFs: SPY, QQQ, SH, DIA, IWM, TZA, TNA, SSO, SDS, PSQ, VOO, IVV, SPXU, UPRO, IWC, UWM, TQQQ, VB, SPXL, QID, RSP, IJR, SQQQ, DOG, SLY, QLD, DXD, RWJ, RWL, URTY, EPS, UDOW, SCHA, TWM, SDOW, DDM, RWM, SRTY, SAA, BXUB, DWAS, VTWO, QQEW, QQQE, VIOO, SDD, SFLA, PZI, FDM, SPLX, QQXT, SBB, BXUC, WMCR, RSCO, JKJ, FYX, XSLV, EWRS, TWOK, SMLV, SPUU, PXSC
Jun. 27, 2014, 2:45 AM
- Russell Investments is planning its annual index realignment today, affecting more than $5T in assets. Credit Suisse estimates $42B will trade as a result of the adjustment, resulting in one of the biggest trading days of the year in terms of dollar volume.
- Asset managers and investors will have to realign their portfolios to match up with the new shifts in indices such as the Russell 2000 and the Russell 3000.
- Due to the expected surge in volume, exchanges are now busy preparing for possible technical issues occurring over the course of the day.
- Yesterday, the London Stock Exchange said it will acquire Frank Russell for $2.7B.
- Russell ETFs: IWM, TZA, TNA, UWM, SPXS, IWF, SKF, URTY, IWD, TWM, IWO, IWN, RWM, SRTY, IWV, IWB, VTWO, VONE, IWW, IWZ, VTWG, UKK, ROLA, RTLA, FBG, THRK, UKF, SKK, EWRS, ONEK, TWOK, VTHR, VONG, VTWV, SMLV, UVT, VONV, UVG, EWRI, SJH, UWC, LGLV, TWQ, SJF, FIBG
IWM vs. ETF Alternatives
The iShares Russell 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2,000 smallest companies in the Russell 3000 Index.
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