Bespoke Report – 10/21/16 “Market of the Living Dead”
Halloween is still more than a week away, but financial assets put their zombie costumes on early this year, as major equity averages and other asset classes meander around awkwardly and aimlessly. The S&P 500 traded to an all-time high more than two-months ago in mid-August and then quickly went catatonic, trading in a range of less than three percentage points. Eight years ago, in 2008, the S&P 500’s average daily move was 3% per day on its way to a peak of 4% that December. These days we can’t even get 3% in two months. Looking at the charts of the major US equity benchmarks, it is a similar picture. The DJIA, Nasdaq, and Russell 2000 are all hanging around right near their August highs, pinned between their 50 and 200-day moving averages.
In our just-published Bespoke Report newsletter, we analyze this week’s action, including economic data, earnings, and sentiment. You can read the entire report by starting a 14-day free trial to our paid content.
Have a great weekend!
The Bespoke Report — Small-caps, Biotech Struggle as Election Nears
US equity markets finished the week solidly in the red, led lower by small-caps and biotechs. The Russell 2,000 small-cap ETF (IWM) fell 1.95% on the week, putting it down 3% for the quarter already. Even still, IWM is up 6.93% year-to-date, which is more than 200 basis points better than the S&P 500’s (SPY) change.
You can view the recent performance of all asset classes in our key ETF matrix below.
We analyze this week’s action, the Fed, economic indicators, sentiment and more in this week’s Bespoke Report newsletter. You can read the entire report by starting a 14-day free trial to our paid content.
Have a great weekend!
The Bespoke Report — 10/7/16
It was a relatively quiet week for US equity markets, but high dividend paying sectors like Utilities and Telecom have struggled recently as interest rates have risen. Below is our asset class performance matrix, which highlights the recent performance of ETFs across the financial spectrum.
While oil was up nearly 4%, gold and silver both tanked. The Brazilian stock market (EWZ) was up another 5%, putting it up a whopping 71.35% on the year. That’s by far the best ETF in the matrix in terms of year-to-date performance.
We analyze this week’s action, the Fed, economic indicators, sentiment and more in this week’s Bespoke Report newsletter. You can read the entire report by starting a 14-day free trial to our paid content below.
Have a great weekend!