- All three major indices ended the week in positive territory.
- Optimism over the chances of another round of COVID-19 stimulus passing Congress drove market gains.
- Still, the weekly jobs report fell far below expectations.
Monday, December 7, 2020 – Last week, the major equity indices once again performed well, despite some economic data that would have suggested otherwise. The U.S. jobs report on Friday fell far short of expectations, as November only added 245,000 workers, well below the estimate of 440,000. The Dow Jones finished the week at 30,218.26, the S&P 500 closed at 3,699.12, and the Nasdaq closed at 12,464,23, which are weekly gains of 1.03%, 1.67%, and 2.12% respectively. Optimism of Congress stepping in and passing another stimulus bill has been brewing in the marketplace, which perhaps is one of the biggest drivers in the week’s gains despite the weak jobs report and Coronavirus cases continually rising in the country.
ETFG Quant Movers - Those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings.
ETFG Quant Winners: We highlight the top 5 Gainers by percentage from this past week. CCOR, FFTY, EEMD, BLCN, and BFOR placed on the top 5 this week, posting % gains of 27.58%, 20.86%, 20.10%, 19.51%, and 18.27% respectively. Worth noting here is CCOR, an actively managed ETF that primarily holds large-cap U.S. stocks, which could be a broad reflection of the performance of the U.S. stock market, and where it will continue to trend during the holiday season.
ETFG Quant Losers: On the % Losers side of the ETFG Quant Movers, the top 5 losers this week were PFFD, JMOM, SPXE, XT, EMTY, which posted % losses of -67.11%, -67.04%, -63.90%, -61.26%, -56.43% respectively. One ETF worth pointing out here is XT, which carries emerging markets securities, and could be a sign on something happen in that sector of the market.
ETFG Weekly Select List - The five most highly rated ETFs per Sector, Geographic Region and Strategy as ranked by the ETFG Quant model.
This week, our focus will be in ‘Geography.’ Two tickers worth pointing out are RVF (Invesco S&P MidCap 400 Pure Value ETF) and CLIX (ProShares Long Online/Short Stores ETF), both of which moved from 2nd place the previous week to 1st place this week in their respective ‘Mid-cap’ and ‘Long/Short’ sub-focuses.
Thank you for reading ETF Global Perspectives!
ETFG 21 Day Free Trial: Sign Up
Assumptions, opinions and estimates constitute our judgment as of the date of this material and are subject to change without notice. ETF Global LLC (“ETFG”) and its affiliates and any third-party providers, as well as their directors, officers, shareholders, employees or agents (collectively ETFG Parties) do not guarantee the accuracy, completeness, adequacy or timeliness of any information, including ratings and rankings and are not responsible for errors and omissions or for the results obtained from the use of such information and ETFG Parties shall have no liability for any errors, omissions, or interruptions therein, regardless of the cause, or for the results obtained from the use of such information. ETFG PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO ANY WARRANTIES OF MERCHANTABILITY, SUITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE.
In no event shall ETFG Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs) in connection with any use of the information contained in this document even if advised of the possibility of such damages.
ETFG ratings and rankings are statements of opinion as of the date they are expressed and not statements of fact or recommendations to purchase, hold, or sell any securities or to make any investment decisions. ETFG ratings and rankings should not be relied on when making any investment or other business decision. ETFG’s opinions and analyses do not address the suitability of any security. ETFG does not act as a fiduciary or an investment advisor. While ETFG has obtained information from sources they believe to be reliable, ETFG does not perform an audit or undertake any duty of due diligence or independent verification of any information it receives.
This material is not intended as an offer or solicitation for the purchase or sale of any security or other financial instrument. Securities, financial instruments or strategies mentioned herein may not be suitable for all investors. Any opinions expressed herein are given in good faith, are subject to change without notice, and are only correct as of the stated date of their issue. Prices, values, or income from any securities or investments mentioned in this report may fall against the interests of the investor and the investor may get back less than the amount invested. Where an investment is described as being likely to yield income, please note that the amount of income that the investor will receive from such an investment may fluctuate. Where an investment or security is denominated in a different currency to the investor's currency of reference, changes in rates of exchange may have an adverse effect on the value, price or income.
Analyst's Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.