Chart of the Day: If Only Apple (AAPL) Was An Energy Stock
ETF Trends: Fixed Income, Currencies, and Commodities – 6/6/17
Biotech has been the best performer in our ETF universe over the past week with gold miners, Mexico, and Japan also near the top of the heal. Precious metals and small caps have been good performers as well. Energy continues to underperform with USO, DBO, and UNG all in the top four underperformers. Base metals, steel, and a few EM names are also lagging badly.
Bespoke provides Bespoke Premium and Bespoke Institutional members with a daily ETF Trends report that highlights proprietary trend and timing scores for more than 200 widely followed ETFs across all asset classes. If you’re an ETF investor, this daily report is perfect. Sign up below to access today’s ETF Trends report.
See Bespoke’s full daily ETF Trends report by starting a no-obligation free trial to our premium research. Click here to sign up with just your name and email address.
Bespoke Stock Scores: 6/6/17
Apple Bites into F.A.N.G.
After a lackluster reaction to yesterday’s WWDC, shares of Apple (AAPL) are set to open modestly lower once again today. Meanwhile, the financial media just can’t get enough of the 1,000 milestones for Amazon (AMZN) and Alphabet (GOOGL). Given the recent attention to AMZN and GOOGL, as well as the other F.A.N.G. stocks (Facebook and Netflix being the other two), one would think that they’d be crushing AAPL in terms of market returns lately. In reality, though, with a 57.2% gain, AAPL has actually outperformed all but one of the F.A.N.G. stocks over the last year. The only one with a better one year return is Netflix (NFLX), which is up 65.7%. The other three stocks are up anywhere from a ‘paltry’ 29.7% to a gain of just under 40%.
Where the F.A.N.G. stocks continue to shine is over a two-year time frame. During this span, AAPL is actually up less than 20%, while the four stocks that make up F.A.N.G. are all up 80%+!
The Closer — Gearing Down, Global & Domestic — 6/5/17
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Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke Institutional clients, we chart factory orders, composite internals of ISM Manufacturing and Non-Manufacturing PMIs, Markit Services PMIs for a number of countries, Mexican data reported this morning, and US productivity stats revised for Q1 today.
The Closer is one of our most popular reports, and you can sign up for a free trial below to see it!
The Closer is one of our most popular reports, and you can see it and everything else Bespoke publishes by starting a no-obligation 14-day free trial to our research!
Chart of the Day: Nasdaq Up 20%+ YTD
Bespokecast — Episode 12 — Marc Cohodes
In our newest conversation on Bespokecast, we sit down with short seller Marc Cohodes. Marc manages his portfolio from San Francisco, and has had great success with high profile bear cases focused on frauds, fads, and failures in recent years. His investment industry experience dates to the early 1980s, and has helped him hone his process for picking out companies unlikely to succeed. Marc goes into detail on his approach, including how he thinks about finding potential shorts, timing, and risk management. He discusses with us recent successful shorts including Valeant, Concordia, and Home Capital Group, as well as another new bear case he has been building a position in Badger Daylight. You can read more about Badger at Marc’s website discussing the company. Marc is the first short seller we’ve had on Bespokecast, and we learned a ton about his approach to the market. We hope you do too!
To access Episode 11 immediately, please start a 14-day free trial to Bespoke’s research product. If you’ve already signed up for a Bespoke free trial in the past, you can gain access by choosing a membership option at our products page. Here’s a look at past guests if you’re interested.
ETF Trends: International – 6/5/17
Energy-related names continue to underperform dramatically as they have since the OPEC decision. Base metals and a few emerging market names round out that list of underperformers. Strong performances over the past week among the ETF universe we track include biotech, Japan, Turkey, and Germany as well as US Treasuries.
Bespoke provides Bespoke Premium and Bespoke Institutional members with a daily ETF Trends report that highlights proprietary trend and timing scores for more than 200 widely followed ETFs across all asset classes. If you’re an ETF investor, this daily report is perfect. Sign up below to access today’s ETF Trends report.
See Bespoke’s full daily ETF Trends report by starting a no-obligation free trial to our premium research. Click here to sign up with just your name and email address.
ISM Services Declines Slightly More Than Expected
Today’s release of the May ISM Services report showed a slightly larger than expected decline, falling from 57.5 down to 56.9 and below the consensus expectation of 57.0. On a combined basis, accounting for each sector’s share of the overall economy, the May ISM dropped to 56.7 from 57.2.
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Commentary in this morning’s report was mixed, although definitely biased to the positive side (yellow highlights below).
The table below shows the internals of this month’s report on both a m/m and y/y basis. On a m/m basis, just four components increased in May, while just three declined on a y/y basis. The biggest m/m gainers this month were Employment and Backlog Orders (charts below). In the case of Employment, it’s probably a good thing that traders hadn’t seen this report prior to last Friday’s employment report otherwise expectations for the report would have been even stronger. For Backlog Orders, that component rose to its highest level of the recovery surpassing the previous high from the Summer of 2015. To the downside, the biggest losers this month were Export Orders (which was surprising given the dollar’s weakness), Prices Paid and New Orders (charts below).
