We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wall Street was moderately downbeat last week with the S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 losing 1.2%, 0.2%, 2.6% and 2.9%, respectively. Among the key datapoints that released last week was retail sales.
Retail sales in the United States unexpectedly stalled in July of 2022, missing market expectations of a 0.1% increase as sales declined at gasoline stations and car dealers. Consumer spending makes up about 70% of U.S. economic activity. Thus, any gain/loss in it will likely brighten/hamper the economic growth picture.
U.S. President Joe Biden has also signed a $740 billion climate change, healthcare and tax ‘Inflation Reduction Act.’ The coming Democratic message will likely focus on the aspects of the bill that could improve Americans' lives immediately — including tax credits for electric vehicles and energy-efficient home improvements and key health care provisions (read: Inflation Reduction Act: Clean Energy & EV ETFs Winners).
"This is a significant piece of legislation that will have both immediate impact and longer-term economic impact, as well,” Brian Deese, Biden’s top economic adviser, told Yahoo Finance Live on Tuesday. "The goal of this bill is to do what fiscal policy can do at our current economic moment."
The Dow Jones reclaimed 34,000 last week. The Dow Jones Industrial Average closed above 34,000 for the first time since May, led by a jump in the retail space. Notably, the blue-chip index has significant exposure to the cyclical sectors like retail and consumer discretionary.
The stronger-than-expected results from retailers like Walmart (WMT - Free Report) and Home Depot (HD - Free Report) spread an air of optimism as the solid results suggest strong consumer spending despite the recessionary fears and higher inflation (read: Dow Jones Reclaims 34,000: ETFs to Ride On).
Against this backdrop, below we highlight a few best-performing inverse/leveraged ETFs of the last week.
U.S. benchmark treasury yields shot up last week as it started the week at 2.79% and ended the week at 2.98%. Since bond yields soared, gold prices declined as the gold shares an inverse relationship with treasury yields. SPDR Gold Shares (GLD - Free Report) lost 1.8% last week. As a result, inverse/leveraged gold mining ETFs gained last week.
U.S. benchmark treasury yields shot up last week as it started the week at 2.79% and ended the week at 2.98%. Since bond yields soared, silver prices declined as the silver shares an inverse relationship with treasury yields. iShares Silver Trust (SLV - Free Report) lost 4% last week. As a result, inverse/leveraged silver ETFs gained last week.
Inverse Internet
DJ Internet Bear 3X Direxion (WEBS - Free Report) – Up 13.95%
Microsectors Fang & Innovation -3X ETN (BERZ) – Up 13.7%
As bond yields rose last week, growth stocks including tech stocks underperformed. As a result, inverse/leveraged internet ETFs gained last week.
S&P 500
S&P 500 High Beta Bear 3X Direxion (HIBS - Free Report) – Up 12.9%
Wall Street was moderately downbeat due to a rise in bond yields. This went against the S&P 500 high-beta stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Best Inverse/Leveraged ETFs of Last Week
Wall Street was moderately downbeat last week with the S&P 500, the Dow Jones, the Nasdaq and the Russell 2000 losing 1.2%, 0.2%, 2.6% and 2.9%, respectively. Among the key datapoints that released last week was retail sales.
Retail sales in the United States unexpectedly stalled in July of 2022, missing market expectations of a 0.1% increase as sales declined at gasoline stations and car dealers. Consumer spending makes up about 70% of U.S. economic activity. Thus, any gain/loss in it will likely brighten/hamper the economic growth picture.
U.S. President Joe Biden has also signed a $740 billion climate change, healthcare and tax ‘Inflation Reduction Act.’ The coming Democratic message will likely focus on the aspects of the bill that could improve Americans' lives immediately — including tax credits for electric vehicles and energy-efficient home improvements and key health care provisions (read: Inflation Reduction Act: Clean Energy & EV ETFs Winners).
"This is a significant piece of legislation that will have both immediate impact and longer-term economic impact, as well,” Brian Deese, Biden’s top economic adviser, told Yahoo Finance Live on Tuesday. "The goal of this bill is to do what fiscal policy can do at our current economic moment."
The Dow Jones reclaimed 34,000 last week. The Dow Jones Industrial Average closed above 34,000 for the first time since May, led by a jump in the retail space. Notably, the blue-chip index has significant exposure to the cyclical sectors like retail and consumer discretionary.
The stronger-than-expected results from retailers like Walmart (WMT - Free Report) and Home Depot (HD - Free Report) spread an air of optimism as the solid results suggest strong consumer spending despite the recessionary fears and higher inflation (read: Dow Jones Reclaims 34,000: ETFs to Ride On).
Against this backdrop, below we highlight a few best-performing inverse/leveraged ETFs of the last week.
Inverse Gold Miners
Microsectors Gold Miners -3X ETN (GDXD - Free Report) – Up 25.74%
Junior Gold Mine Bear 3X Direxion (JDST - Free Report) – Up 19.96%
Gold Miners Bear 2X Direxion (DUST) – Up 15.3%
U.S. benchmark treasury yields shot up last week as it started the week at 2.79% and ended the week at 2.98%. Since bond yields soared, gold prices declined as the gold shares an inverse relationship with treasury yields. SPDR Gold Shares (GLD - Free Report) lost 1.8% last week. As a result, inverse/leveraged gold mining ETFs gained last week.
Biotech Bear
S&P Biotech Bear 3X Direxion (LABD - Free Report) – Up 22.8%
Biotech companies had a great run recently on hopes of M&A boost. Now, biotech companies have lost last week probably on profit booking.
Inverse Silver
Ultrashort Silver ETF (ZSL - Free Report) – Up 19.8%
U.S. benchmark treasury yields shot up last week as it started the week at 2.79% and ended the week at 2.98%. Since bond yields soared, silver prices declined as the silver shares an inverse relationship with treasury yields. iShares Silver Trust (SLV - Free Report) lost 4% last week. As a result, inverse/leveraged silver ETFs gained last week.
Inverse Internet
DJ Internet Bear 3X Direxion (WEBS - Free Report) – Up 13.95%
Microsectors Fang & Innovation -3X ETN (BERZ) – Up 13.7%
As bond yields rose last week, growth stocks including tech stocks underperformed. As a result, inverse/leveraged internet ETFs gained last week.
S&P 500
S&P 500 High Beta Bear 3X Direxion (HIBS - Free Report) – Up 12.9%
Wall Street was moderately downbeat due to a rise in bond yields. This went against the S&P 500 high-beta stocks.