After a brutal week last week, stocks bounced back sharply this week both here in the U.S. and abroad. Last week’s terrorist attacks in Paris occurred just after the market closed on Friday, leaving many traders expecting declines when they got to their desks on Monday morning. But while futures traded lower heading into the trading day on Monday, the declines were short-lived. In fact, the S&P 500 ended up gaining 1.5% on Monday, and another big gain of 1.6% on Wednesday was enough to leave the market up more than 3.3% on the week.
Below is a snapshot of this week’s performance across the asset class spectrum using key ETFs traded on U.S. exchanges. Consumer Discretionary and Technology posted the biggest gains out of the ten sectors here in the U.S., while Brazil (EWZ) and Russia (RSX) gained the most of any country ETFs highlighted at 9%+. The only area of weakness this week was in commodities, where oil, natural gas, gold and silver all traded lower. For the year now, the commodities ETF (DBC) is down 23%.
We’ve just published our weekly Bespoke Report newsletter, which is available to all Bespoke Newsletter, Bespoke Premium and Bespoke Institutional subscribers. You can read this week’s Bespoke Report by starting a 14-day free trial to our research services below.