To help investors keep up with the markets, we present our ETF Scorecard. The Scorecard takes a step back and looks at how various asset classes across the globe are performing. The weekly performance is from last Friday’s open to this week’s Thursday close.
Markets are mostly down this week. U.S. CPI increased by 0.2% in August after being unchanged in July, due to rising rents and healthcare costs. The overnight Yuan HIBOR rate jumped to 8.16% on Tuesday hitting a 7-month high. Market participants believe this move is likely due to intervention from China’s central bank. China’s industrial production increased by 6.3% in August from a year earlier, beating expectations of 6.2%. Crude oil inventories in the U.S. dropped by 0.6 million barrels this week, against expectations of a 2.8 million barrel increase. According to the IEA’s Oil Market Report, the global demand for oil peaked at 2.3 million barrels per day in the third quarter of 2015 and has been falling in 2016. The IEA blames this change on unstable oil demands and falling oil consumption in Europe. Britain’s year-over-year CPI remained steady at 0.6%, missing estimates of 0.7%, despite pressure from the weak pound. Month-by-month retail sales decreased by 0.2%, lower than expectations of a 0.4% decrease. Eurozone confidence indicators were a disappointment on Tuesday. The German ZEW economic sentiment remained pegged at 0.5, missing expectations of 2.8. Unemployment claims in the U.S. increased by 260,000 lower than expectations of 265,000. Retail sales fell by 0.3% in August, missing expectations of a 0.1% decrease. This is the first drop in 5 months. The PPI remained at 0.0% in August. The Philly Fed Manufacturing Index increased by 12.8 in September, beating expectations of a 2.0 increase.
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Risk Appetite Review
High-beta ETF (SPHB B-) is the worst performer, with a decrease of 1.83% this week. The overall market, as measured by the S&P 500 ETF (SPY A), fell the least this week, with a 0.78% loss. The equal weight ETF (RSP B+) is the second-best performer this week, with a loss of 1.44%.
Major Index Review
All major indexes are down for the week, except the PowerShares QQQ ETF (QQQ A-), which is up by 1.21%. The Russell 2000 ETF (IWN A-) is the worst performer for the week, with a 1.72% loss. The Emerging Markets ETF (EEM A-) is the worst performer for the rolling month, with a loss of 2.73%.
Foreign Equity Review
All major foreign equity ETFs are down this week. India (EPI B+) is the best performer for the week and rolling month, with a loss of 0.95% this week and a rolling month gain of 1.77%. Germany (EWZ B+) is the worst performer this week and rolling month, with a 3.50% and 5.38% loss, respectively.
Oil (USO A) is the worst performer for the week and rolling month, decreasing by 5.94% and 6.02%, respectively. Gas (UNG B-) is the best performer for the rolling month, with a 10.72% gain. Copper (JJC A) is the best performer for the week, with a 3.54% gain.
The U.S. dollar (UUP A) is down 0.08% this week. The Australian dollar (FXA A-) is the worst performer for the week and rolling month, falling by 0.84% and 2.33%, respectively. Japanese Yen (FXY C+) is the best performer for the week, increasing by 0.79%.
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Disclosure: No positions at time of writing.