- Retail spending on the rise.
- Light at the end of the tunnel on COVID-19?
- A biotech ETF makes big gains in our Quant Model.
Monday, February 22, 2021 - As we approach the close of February, news headlines remind us that it was about a year ago that the Coronavirus cases began to rapidly spread domestically and inevitably grip the nation in the teeth of the pandemic. With COVID-19 cases now trending downward and vaccinations being increasingly distributed, there may be light at the end of the pandemic tunnel albeit not soon enough. Next up in the pandemic fight is the single-dose Johnson & Johnson vaccine, which has been submitted for FDA approval and will hopefully accelerate vaccine availability and distribution, if approved.
During the holiday week, the U.S. equity markets balanced positive economic reports and caution regarding current equity valuation levels. With perhaps a sign of what is to come in consumer spending, Retail Sales reported a +5% increase in January. Led by the Financial and Energy sectors, major U.S. equity indices turned in mixed performance for the week.
The DJIA eked out a gain of 35.92 points (.11%) to close at 31,494.32, the S&P 500 dropped 28.12 points (.71%) to 3,906.71 and the NASDAQ gave back 221.01 points (1.57%) to close the week at 13,874.46.
ETFG Quant Movers - Those ETFs who have had the largest weekly change in their respective, overall ETFG Quant ratings.
ETFG Weekly Quant Winners: The three biggest gainers in their ETFG Total Quant Scores were found in the Virtus LifeSci Biotech Clinical Trials ETF (BBC) which reached 59.10 up 11.06 points, the Alerian Energy Infrastructure ETF (ENFR) which closed at 53.29 up 10.51 points and the iShares International Preferred Stock ETF (IPFF) that picked up 10.44 points to an ETFG Total Quant Score of 59.90.
ETFG Weekly Quant Losers: The three biggest drops in their respective ETF Quant Total Scores were found in the ProShares Decline of the Retail Store ETF (EMTY) which gave back 11.63 points to 37.89, the iShares India 50 ETF (INDY) which has had a lot of movement recently and gave back 8.01 points to 35.63 and finally the AGFiQ US Market Neutral Momentum Fund (MOM) which wrapped the week at an ETFG Total Quant Score of 33.67 down 7.89 points for the week.
Thanks for reading ETF Global Perspectives and have a great week!
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.