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Wall Street was in good shape last week with the S&P 500, the Dow Jones and the Russell 2000 adding about 1.23%, 2.7%, 0.23%, respectively, and the Nasdaq Composite losing about 1.5%. The Dow Jones has been hovering around a record high.
Economic datapoints have come in a bit weaker lately. The U.S. economy added 266,000 jobs in April 2021, after a downwardly revised 770,000 rise in March and below market expectations of a rise of 978,000 as employers face worker shortage.
The ISM Manufacturing PMI dropped to 60.7 in April 2021 from 64.7 in March, falling short of market forecasts of 65 as shortage of raw materials put pressure on production. Despite the decline, the latest reading marked an expansion in the manufacturing sector for 11 successive months (read: Key Winning ETF Areas Despite Subdued April Manufacturing Data).
Corporate earnings have been encouraging. And talks are rife that inflation in the United States has been gaining steam. Against this backdrop, below we highlight a few ETF areas that won last week.
Energy
Oil prices recovered last week on upbeat economic data from China and the United States. Both Brent and WTI posted a second weekly gain on easing restrictions in the United States and Europe on growing vaccination. Continued revival in factory activities and pent-up summer travel also boosted the demand for energy prices.
Oil Services Vaneck ETF (OIH) – Up 18.9%
US Oil Equipment & Services iShares ETF (IEZ - Free Report) – Up 18.3%
Uranium
Uranium miners got a boost from improving supply/demand dynamics as well as push for more clean energy projects. Additionally, most of the stocks are undervalued, making them a bargain hunt for investors.
Northshore Global Uranium Mining ETF (URNM - Free Report) – Up 16.2%
Global X Uranium ETF(URA) – Up 13.3%
Copper Mining
Copper price has been hovering at an all-time high.Economic reopening is leading to higher industrial activities. Demand will outdo near-term supply. The constrained supply conditions are expected to remain given that environmental policies are driving the use of copper along with increasing investments in renewable energy and electronic vehicles, which will need large volumes of the raw material. This is making funds like COPX attractive investment options.
Agricultural commodities have surged recently thanks to weather-related supply concerns and higher demand that encouraged investment fund buying. A subdued U.S. dollar, which tends to make grains more competitive on the export market, also helped the rally. Additionally, strong demand from the livestock sector boosted China’s imports of corn (read: Top ETF Stories of April: Economically Sensitive Areas Steady).
Higher industrial activities have boosted the demand for materials. Prices of materials have also been rising, placing materials companies in a beneficial position.
DWA Basic Materials Momentum Invesco ETF (PYZ - Free Report) – Up 9.9%
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Top-Performing ETFs of Last Week
Wall Street was in good shape last week with the S&P 500, the Dow Jones and the Russell 2000 adding about 1.23%, 2.7%, 0.23%, respectively, and the Nasdaq Composite losing about 1.5%. The Dow Jones has been hovering around a record high.
Economic datapoints have come in a bit weaker lately. The U.S. economy added 266,000 jobs in April 2021, after a downwardly revised 770,000 rise in March and below market expectations of a rise of 978,000 as employers face worker shortage.
The ISM Manufacturing PMI dropped to 60.7 in April 2021 from 64.7 in March, falling short of market forecasts of 65 as shortage of raw materials put pressure on production. Despite the decline, the latest reading marked an expansion in the manufacturing sector for 11 successive months (read: Key Winning ETF Areas Despite Subdued April Manufacturing Data).
Corporate earnings have been encouraging. And talks are rife that inflation in the United States has been gaining steam. Against this backdrop, below we highlight a few ETF areas that won last week.
Energy
Oil prices recovered last week on upbeat economic data from China and the United States. Both Brent and WTI posted a second weekly gain on easing restrictions in the United States and Europe on growing vaccination. Continued revival in factory activities and pent-up summer travel also boosted the demand for energy prices.
Oil Services Vaneck ETF (OIH) – Up 18.9%
US Oil Equipment & Services iShares ETF (IEZ - Free Report) – Up 18.3%
Uranium
Uranium miners got a boost from improving supply/demand dynamics as well as push for more clean energy projects. Additionally, most of the stocks are undervalued, making them a bargain hunt for investors.
Northshore Global Uranium Mining ETF (URNM - Free Report) – Up 16.2%
Global X Uranium ETF(URA) – Up 13.3%
Copper Mining
Copper price has been hovering at an all-time high.Economic reopening is leading to higher industrial activities. Demand will outdo near-term supply. The constrained supply conditions are expected to remain given that environmental policies are driving the use of copper along with increasing investments in renewable energy and electronic vehicles, which will need large volumes of the raw material. This is making funds like COPX attractive investment options.
Global X Copper Miners ETF (COPX - Free Report) – Up 12.3%
Corn
Agricultural commodities have surged recently thanks to weather-related supply concerns and higher demand that encouraged investment fund buying. A subdued U.S. dollar, which tends to make grains more competitive on the export market, also helped the rally. Additionally, strong demand from the livestock sector boosted China’s imports of corn (read: Top ETF Stories of April: Economically Sensitive Areas Steady).
Teucrium Corn (CORN - Free Report) – Up 10.2%
Materials
Higher industrial activities have boosted the demand for materials. Prices of materials have also been rising, placing materials companies in a beneficial position.
DWA Basic Materials Momentum Invesco ETF (PYZ - Free Report) – Up 9.9%
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 >>