ETF Trends: US Indices & Styles – 3/7/17
Natural gas continues to bounce while European equities show strong five-day performance despite a relatively subdued trading day today. Master limited partnerships have also outperformed over the last week. Some of the worst performers have been in commodities with gold miners, oil services, and industrial metals businesses all plunging over the last five sessions.
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: 3/7/17
Revenue Trends For The US’s Digital Duopoly
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With an estimated 99% of total incremental digital advertising spending going to Facebook and Google (Alphabet) in the US, we were curious how the stronger dollar since 2014 and the emerging US ads duopoly was impacting the share of revenues these companies derive from the US. As shown below, since 2013 the trend for Alphabet has been for a growing share of US revenues. For Facebook, US revenue share is rising much slower but as our trend lines show, still trends towards higher US share of revenue. We should note that both Facebook and Google are seeing growing US revenue share despite very healthy ex-US revenue growth. As shown in the chart below, Facbook’s ex-US revenue has been rising over 50% per year while Alphabet’s is over 20% an accelerating.
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The Closer — Nominal Expansion, Credit Compression — 3/6/17
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Looking for deeper insight on global markets and economics? In tonight’s Closer sent to Bespoke Institutional clients, we chart up manufacturers sales updated today. We also discuss the looming test of post-crisis lows CDS index spreads.
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!
Gap Filled
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Last Thursday morning, the S&P 500 gapped higher and ultimately had its first 1%+ upside move of the year and its best day since the election. The catalyst for the rally was what was called a ‘presidential’ speech from President Trump. In the three trading days that have followed last Wednesday’s rally, though, the S&P 500 has been steadily drifting lower, and at the lows in Monday’s trading had completely filled the gap from Wednesday’s rally. So far the ‘pre-gap’ highs have acted as support, but they will need to be watched in the short-term as there is little in the way of nearby downside support below. Going forward, the most constructive scenario for the S&P 500 may be a sideways range to let its short-term moving averages and trading range play catch up. Is anything ever that easy though?
To see Bespoke’s full line of macro and micro research, sign up for one of our premium membership options today! You won’t be disappointed.
To see Bespoke’s full line of macro and micro research, sign up for one of our premium membership options today! You won’t be disappointed.
Bespokecast — Episode 7 — Helene Meisler
In our newest conversation on Bespokecast, we speak with renowned technician and market commentator Helene Meisler. Helene has had a long career in financial markets, starting in the early 1980s with Cowen before becoming the only technician on staff at Goldman Sachs in the mid-1980s. She offers a valuable, experienced perspective on markets, trading, and technical analysis. Currently, Helene’s observations are widely followed on Twitter and she writes a daily column at RealMoney.com. We really enjoyed hearing her perspective on the markets and we hope you enjoy the conversation!
To access episode 7 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.
Stock Seasonality Report: 3/6/17
Chart of the Day: When Are Pullbacks the Most Common?
February 2017 Headlines
ETF Trends: Fixed Income, Currencies, and Commodities – 3/8/17
As shown below Natural Gas has bounced impressively over the past week while Spain, Italy, and France all continue to pace global equity markets. Mexican pesos have rallied significantly and with that move EWW has appreciated along with international equities and MLPs. Solar, telecoms, and gold miners have been the worst performing ETFs we track.
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.