|Bid||0.00 x 1200|
|Ask||0.00 x 1300|
|Day's Range||285.40 - 287.59|
|52 Week Range||243.45 - 288.69|
|PE Ratio (TTM)||86.54|
|Expense Ratio (net)||0.04%|
Fund managers have increased their average cash balance from 4.7% to 5.0% in August. The current level of cash holdings is well above the ten-year average of 4.5%.
US retail sales rose 0.5% sequentially in July against expectations of just a 0.1% increase. On an annual basis, the retail sales in July grew by 6.4%. The core retail sales (XRT), which exclude automobiles, gasoline, building materials, and food services, grew by 0.5% in July.
The demand for gold in India (INDA) fell 7.0% in the second quarter, mainly due to stronger equity markets and higher gold prices measured in rupees. This event caused local gold prices to rise, even with the price decline measured in US dollars.
The US (IVV)(QQQ) employment data for July was released on August 3. The job additions in July reached only 157,000, lower than the expectations of 190,000 job additions. Business and professional services gained 51,000 jobs, and the manufacturing (XLI)(CARZ) sector added a healthy 37,000 jobs.
Gold prices (IAU) have been on an almost one-way downward trajectory since mid-April. Although the Federal Reserve didn’t raise rates during its August meeting as was widely expected, it sounded more bullish on the US economy (SPY)(DIA). The Fed was also upbeat on household spending and business fixed investment in the US.
Fidelity, one of the largest providers of index funds and mutual funds, said Wednesday it's introducing two equity-based index funds that will not have expense ratios. Fidelity's move to introduce no-fee index funds is the latest move by a major fund giant to compress fees in a bid to gain more assets from advisors and investors.
What Will Financial Markets Look for in July's Jobs Report? The numbers give them clues about if the US economy (SPY) (IVV) is strong enough to withstand interest rates hikes. The Fed has already raised interest rates twice this year.
As summer hits a midpoint heading into August, it’s important for investors to know the historical significance that the month brings, particularly when it comes to the S&P 500. As such, it’s important ...
Johnson & Johnson (JNJ) announced its Q2 2018 earnings results on July 17. JNJ stock rose ~3.5% on the day and ended at a closing price of $129.12. On July 16, the stock closed at $124.69.
Gold prices (IAU) have been on a losing spree since mid-April due to the US dollar’s strength and diverging monetary policies in the United States (IVV) and the rest of the world. During the congressional testimony, Fed Chair Jerome Powell gave an upbeat assessment of the US (VOO) economy. The assets are attractive when interest rates (TLT) are high because gold doesn’t generate any income.
A net -11% of respondents in the BAML (Bank of America Merrill Lynch) July survey expect faster economic growth over the next 12 months, which is the lowest since February 2016. At the start of 2018, a net 40% of polled fund managers expected faster economic growth in the next year. While it is very difficult to pinpoint a turning point in the economic cycle, the consensus is generally growing that we are in the late stage of the economic cycle, which typically precedes a recession.
A version of this article was published in the June 2018 issue of Morningstar ETFInvestor. Download a complimentary copy of Morningstar ETFInvestor by visiting the website. As of the end of May 2018, there were three dozen China-focused stock exchange-traded funds, no two alike.
Stocks across the globe have suffered their worst first half in a year since 2010, wiping out trillions of dollars from the MSCI's 47-country world index. Inside the hot and flop ETFs in terms of fund flows.
BlackRock, Inc. ( BLK) was able to supplant Vanguard in terms of assets flowing into U.S. mutual funds and exchange-traded funds (ETFs) for the month of May, marking the second month in a row that BlackRock has exceeded the inflows of its rival. According to data from Morningstar, May asset flows to passive U.S. equity mutual funds and ETFs were $29.1 billion compared with $18.2 billion in April. Meanwhile, Morningstar said that actively managed funds in the U.S. pulled in $8.4 billion in May compared with $11.4 billion in April.
After a brief lull the previous week, ETF inflows rebounded sharply last week due to the recovery in broader benchmark indices. According to FactSet data, US-listed ETFs collected $15.3 billion during the week, which takes the inflows to $135.1 billion year-to-date. While investors are positive on US equity (JPM) (GS) (BAC), international equity still wasn’t popular and saw outflows of $2.1 billion. US fixed-income ETFs added $2.8 billion, while international fixed-income saw net redemptions of $137 million.
The markets responded negatively to the latest news of U.S. President Donald trump imposing a 25 percent tariff on up to $50 billion in Chinese goods by plunging over 200 points at the open. The measures by the Trump administration will affect Chinese goods "that contain industrially significant technologies" and that the action comes "in light of China's theft of intellectual property and technology and its other unfair trade practices," said Trump in a statement. In addition, Trump announced that the imposition of further tariffs could be on the horizon should China retaliate with tariffs of their own on American products, such as crops.