Friday was a painful day for equity investors, as every single major US index ETF fell more than 1%. The S&P 500 (SPY) notably outperformed DIA and QQQ, but it still fell 1.15% on the day. Even still, for the month of April, SPY is up 74 bps. Smallcap growth ETFs are now down in April, but for the year they’re still the big winners.
Looking at US sector ETFs, Consumer Discretionary and Technology fell the most on Friday, while Energy and Utilities were the outperformers. For the year, Health Care is still in the lead with a gain of 7%, while the Utilities sector is down the most at -6%.
Globally, China (FXI) and Russia (RSX) both saw huge declines on Friday, but these are the two countries up the most year-to-date. FXI is up 20% while RSX is up 32%. Quarter-to-date, Germany (EWG) has been the biggest loser.
Commodities have been all over the place, but oil (USO) is notably up 17% so far this month. USO is now down just 2.5% on the year.
Finally, Treasury ETFs rallied on Friday as investors shifted out of stocks. The fixed income asset class is still holding onto decent gains on the year.
We’ve just sent our weekly Bespoke Report newsletter to subscribers. In this week’s report, we analyze all of the headwinds that the market is facing, and provide an opinion on where we think things are headed from here. From Greece, to China, to economic indicators, to earnings, there are plenty of negatives out there. Can the market continue to push higher or will we finally see a significant correction? We help answer this question in this week’s Bespoke Report.
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