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Wall Street was upbeat last week with the S&P 500 logging the biggest weekly rise since July as stocks rallied on earnings. The Dow Jones (up 1.58%) and the Nasdaq (up 2.18%) were also notable winners last week.
Oil prices staged a rally last week, with United States Oil Fund LP (USO - Free Report) adding about 1.8%. Oil prices crossed the $80-a-barrel mark amid the ongoing global power crisis. Retail sales in the United States unexpectedly increased 0.7% sequentially in September 2021, following an upwardly revised 0.9% surge in August, beating market forecasts of a 0.2% decline, in a sign of resilience from consumers.
No wonder, stocks remained upbeat in the week. The benchmark U.S. treasury yield started the week with 1.61% while it ended the week at 1.59%. Against this backdrop, below we highlight a few inverse/leveraged ETF areas that stood tall last week.
Uranium
After years of stagnant prices, about a 37% gain in prices for nuclear fuel uranium has helped attract investors back to the sector. Funds such as Ben Melkman’s New York-based Light Sky Macro, Anchorage Capital and Tribeca Investment Partners have been positive on the outlook for the raw material, as a global energy crisis points to the role of nuclear power in a transition away from fossil fuels.
Northshore Global Uranium Mining ETF (URNM - Free Report) – Up 19.3%
Global X Uranium ETF (URA) – Up 16.6%
Cloud Computing & Cybersecurity
Cloud computing continues to be a hot investment area. It is worth knowing here that cloud computing and storage have found applications in social networking, messaging apps and streaming services. It has empowered video conferencing, gaming, e-commerce shopping, remote project collaboration, online classes, editing, etc. Cloud computing is also supporting organizations in remotely processing a lot of information, developing and running key applications and services (read: Cloud Computing ETFs Looking Great: Let's Explore).
Simplify Volt Cloud and Cybersecurity Disruption – Up 17.3%
Mining
Copper price touched a record high as surging power prices are likely to curb supply at a time when exchange stockpiles are at extremely low levels. Copper for delivery in December advanced sharply for the third day in a row on the Comex market in New York, touching $4.7810 per pound ($10,518 per tonne), the highest since the record hit on May 12, 2021 — marking a 12% gain for the week.
With energy crisis taking center stage in the world, demand for clean energy should be higher in the coming days. Plus, clean energy stocks are relatively undervalued at the current level.
Meanwhile, solar power stocks have risen for the past two days. The sector recently witnessed a correction due to high commodity prices, especially for silicon, which is used in photovoltaic panels. Positive tailwinds are in the cards thanks to supportive policies and the stabilization of raw materials prices, per analysts, as quoted on Forbes. Targets for solar power infrastructure construction in China remain upbeat despite surging raw material costs, the article indicated.
Image: Bigstock
Best ETF Areas of Last Week
Wall Street was upbeat last week with the S&P 500 logging the biggest weekly rise since July as stocks rallied on earnings. The Dow Jones (up 1.58%) and the Nasdaq (up 2.18%) were also notable winners last week.
Oil prices staged a rally last week, with United States Oil Fund LP (USO - Free Report) adding about 1.8%. Oil prices crossed the $80-a-barrel mark amid the ongoing global power crisis. Retail sales in the United States unexpectedly increased 0.7% sequentially in September 2021, following an upwardly revised 0.9% surge in August, beating market forecasts of a 0.2% decline, in a sign of resilience from consumers.
No wonder, stocks remained upbeat in the week. The benchmark U.S. treasury yield started the week with 1.61% while it ended the week at 1.59%. Against this backdrop, below we highlight a few inverse/leveraged ETF areas that stood tall last week.
Uranium
After years of stagnant prices, about a 37% gain in prices for nuclear fuel uranium has helped attract investors back to the sector. Funds such as Ben Melkman’s New York-based Light Sky Macro, Anchorage Capital and Tribeca Investment Partners have been positive on the outlook for the raw material, as a global energy crisis points to the role of nuclear power in a transition away from fossil fuels.
Northshore Global Uranium Mining ETF (URNM - Free Report) – Up 19.3%
Global X Uranium ETF (URA) – Up 16.6%
Cloud Computing & Cybersecurity
Cloud computing continues to be a hot investment area. It is worth knowing here that cloud computing and storage have found applications in social networking, messaging apps and streaming services. It has empowered video conferencing, gaming, e-commerce shopping, remote project collaboration, online classes, editing, etc. Cloud computing is also supporting organizations in remotely processing a lot of information, developing and running key applications and services (read: Cloud Computing ETFs Looking Great: Let's Explore).
Simplify Volt Cloud and Cybersecurity Disruption – Up 17.3%
Mining
Copper price touched a record high as surging power prices are likely to curb supply at a time when exchange stockpiles are at extremely low levels. Copper for delivery in December advanced sharply for the third day in a row on the Comex market in New York, touching $4.7810 per pound ($10,518 per tonne), the highest since the record hit on May 12, 2021 — marking a 12% gain for the week.
Global X Copper Miners ETF (COPX - Free Report) – Up 12.3%
Clean Energy
With energy crisis taking center stage in the world, demand for clean energy should be higher in the coming days. Plus, clean energy stocks are relatively undervalued at the current level.
Meanwhile, solar power stocks have risen for the past two days. The sector recently witnessed a correction due to high commodity prices, especially for silicon, which is used in photovoltaic panels. Positive tailwinds are in the cards thanks to supportive policies and the stabilization of raw materials prices, per analysts, as quoted on Forbes. Targets for solar power infrastructure construction in China remain upbeat despite surging raw material costs, the article indicated.
Solar Invesco ETF (TAN - Free Report) – Up 11%