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Rebound Abounds

Monday, November 5, 2018 - Stocks recorded solid gains for the week, helping the market regain ground lost over a period of prolonged weakness and bringing most of the major indexes back into positive territory for the year-to-date. The smaller-cap benchmarks performed best and broke a streak of six consecutive weekly losses. Within the S&P 500 Index, the materials sector posted the strongest returns, while utilities shares lagged. The technology sector also underperformed, held back by a sharp drop in Apple shares on Friday after investors appeared to react negatively to an announcement that the company would no longer break out sales reports for its smartphones, computers and tablets. Value stocks, which typically trade at relatively low valuations, outperformed higher-valuation growth shares. Overall, October was a tough month, with the S&P 500 declining the most since September of 2011. For the week, the DJIA was up 582.52 points, the S&P 500 rallied to end up 64.37 points, while the NASDAQ Composite rose to 189.78.

As we shift focus to Tuesday’s midterm elections, it is important to note that there are many economic implications contingent on the outcomes. If the Democrats do take the House, as the polls suggest, the knee-jerk reaction will probably be lower stock prices as further tax cuts would no longer be on the table. If an initial shock doesn't have a knock-on effect, markets may look at the longer-term implications including the global economy and the ongoing trade war.

ETFG Quant Movers – those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings:

ETFG Quant Winners: (PAGG) Invesco Global Agriculture ETF jumped 14.34 points to 53.19, (DBGR) X-trackers MSCI Germany Hedged Equity Fund rose 10.55 points to 53.09, (CEZ) VictoryShares Emerging Market Volatility Wtd ETF made solid gains up 10.32 points to 51.23, (IDOG) ALPS International Sector Dividend Dogs ETF increased 9.33 to 52.69, and (ICOW) rounds out this week’s top five posting a gain of 9.18 moving the fund to 57.36.

ETFG Quant Losers: (HJPX) iShares Currency Hedged JPX-Nikkei 400 ETF was the biggest loser of the last week falling 10.05 to 33.73, (VGFO) Virtus WMC Global Factor Opportunities ETF dropped 8.9 points to 40.58, (LVIN) Hartford Multifactor Low Volatility International Equity ETF fell 8.18 to 42.82, (IYZ) iShares US Telecommunications ETF fell 7.73 points to 52.45 and (VPL) Vanguard FTSE Pacific ETF rounds out the bottom five posting a loss of 7.26 to end the week at 48.89.

ETFG Weekly Select List - the 5 most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model.

Because of the sector’s popularity in market related news this week, we’d like to highlight some substantial movement in the Technology Sector portion when comparing this week’s Select List to last. First Trust Nasdaq Semiconductor ETF (FTXL) rose from the fifth spot up to number one this week, bumping iShares Exponential Technologies ETF (XT) and Global X FinTech Thematic ETF (FINX) down from first and second respectively last week to second and third this week. SPDR FactSet Innovative Technology ETF (XITK) remained in the four spot from last week and new to the Select List is the First Trust Nasdaq Cybersecurity ETF (CIBR). As technology stocks continue make waves in the news, keep an eye on the ETFG Weekly Select list to see what ETFs are riding the markets alongside them.

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

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