We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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.
Last week was downbeat for Wall Street thanks to rising virus cases and reversing of economic reopening by some key U.S. states. The U.S. stimulus package CARES Act worth $2.2-trillion is about to expire by July end and policymakers began discussion on further package during the week. The S&P 500, the Dow Jones and the Nasdaq Composite lost about 0.28%, 0.76% and 1.33%, respectively, during the period.
Some tech stocks started losing their appeal probably due to overvaluation concerns. However, the ongoing earnings season is a mixed show. Against this backdrop, below we highlight a few winning leveraged ETF areas of past week.
Last week was all about a silver rally. Prices climbed to the highest level in nearly four years. Increase in investment demand, pick-up in industrial activity due to factory reopening after lockdowns, and investors’ appetite for alternatives to safe-haven asset gold (which is pretty pricey at the current level) led to the rally.
Unlike gold, silver has considerable presence in the industrial sector. About 50% of the metal’s total demand comes from industrial applications. So, the reopening of global economies is helping silver more than the yellow metal (read: Here's Why Silver Outshining Gold ETFs).
Growth in the global solar PV industry, likely rebound in global computer shipments, as well as new sources of demand for sensors used in IoT are providing a boost to silver demand. A raft of global stimulus, including the latest EU deal of borrowing 750 billion euros, aided the rally.
Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG - Free Report) – Up 16.1%
Gold grabbed the second position with miners being in the sweet spot. Great level of uncertainty leading to safe-haven demand, rising virus cases, a super-dovish Fed and still-cheaper oil prices (which is used as an input by gold miners) led to the rally.
Some upbeat banking earnings and hopes of further U.S. stimulus package after the successful passage of the EU stimulus bill worth 700 billion euro probably gave a life to this otherwise-suffering sector (read: Banking Earnings Decent in Q2: ETFs in Focus).
The U.S. housing market has been witnessing a streak of encouraging data lately. Existing home sales, which account for more than 90% of U.S. home sales, showed a 20.7% rise to a seasonally adjusted annual rate of 4.72 million units in June. It compares favorably with 3.91 million units observed in May (the lowest level since October 2010). Notably, the metric showed the highest gain since 1968 when NAR had begun tracking the series. The current low rate environment has given a big boost to the sector (read: Housing ETFs to Gain on Upbeat Sales Data Amid Coronavirus Crisis).
ProShares Ultra Bloomberg Natural Gas (BOIL - Free Report) – Up 11.9%
Natural gas prices registered a nice stretch last week. Per FXempire.com, tropical storm Hanna formed in the Gulf of Mexico is on its way to the Texas coast. There are some natural gas installations which are likely to be disturbed by the storm, which in turn boosted natural gas prices.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Top 5 Leveraged ETF Areas of Last Week
Last week was downbeat for Wall Street thanks to rising virus cases and reversing of economic reopening by some key U.S. states. The U.S. stimulus package CARES Act worth $2.2-trillion is about to expire by July end and policymakers began discussion on further package during the week. The S&P 500, the Dow Jones and the Nasdaq Composite lost about 0.28%, 0.76% and 1.33%, respectively, during the period.
Some tech stocks started losing their appeal probably due to overvaluation concerns. However, the ongoing earnings season is a mixed show. Against this backdrop, below we highlight a few winning leveraged ETF areas of past week.
ProShares Ultra Silver (AGQ - Free Report) – Up 34.3%
Last week was all about a silver rally. Prices climbed to the highest level in nearly four years. Increase in investment demand, pick-up in industrial activity due to factory reopening after lockdowns, and investors’ appetite for alternatives to safe-haven asset gold (which is pretty pricey at the current level) led to the rally.
Unlike gold, silver has considerable presence in the industrial sector. About 50% of the metal’s total demand comes from industrial applications. So, the reopening of global economies is helping silver more than the yellow metal (read: Here's Why Silver Outshining Gold ETFs).
Growth in the global solar PV industry, likely rebound in global computer shipments, as well as new sources of demand for sensors used in IoT are providing a boost to silver demand. A raft of global stimulus, including the latest EU deal of borrowing 750 billion euros, aided the rally.
Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG - Free Report) – Up 16.1%
Gold grabbed the second position with miners being in the sweet spot. Great level of uncertainty leading to safe-haven demand, rising virus cases, a super-dovish Fed and still-cheaper oil prices (which is used as an input by gold miners) led to the rally.
Direxion Daily Regional Banks Bull 3X Shares (DPST - Free Report) – Up 13.6%
Some upbeat banking earnings and hopes of further U.S. stimulus package after the successful passage of the EU stimulus bill worth 700 billion euro probably gave a life to this otherwise-suffering sector (read: Banking Earnings Decent in Q2: ETFs in Focus).
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL - Free Report) – Up 12.0%
The U.S. housing market has been witnessing a streak of encouraging data lately. Existing home sales, which account for more than 90% of U.S. home sales, showed a 20.7% rise to a seasonally adjusted annual rate of 4.72 million units in June. It compares favorably with 3.91 million units observed in May (the lowest level since October 2010). Notably, the metric showed the highest gain since 1968 when NAR had begun tracking the series. The current low rate environment has given a big boost to the sector (read: Housing ETFs to Gain on Upbeat Sales Data Amid Coronavirus Crisis).
ProShares Ultra Bloomberg Natural Gas (BOIL - Free Report) – Up 11.9%
Natural gas prices registered a nice stretch last week. Per FXempire.com, tropical storm Hanna formed in the Gulf of Mexico is on its way to the Texas coast. There are some natural gas installations which are likely to be disturbed by the storm, which in turn boosted natural gas prices.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>