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The Zacks Analyst Blog Highlights GUSH, BOAT GBDV, KCCA and PDBC
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For Immediate Release
Chicago, IL – June 01, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: S&P Oil & Gas Exploration Bull 3X Direxion (GUSH - Free Report) , Sonicshares Global Shipping ETF (BOAT - Free Report) , Global Beta ETF Trust Global Income ETF , Kraneshares California Carbon Allowance ETF (KCCA - Free Report) , and Optimum Yield Diversified Commodity Strategy (PDBC - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 Best ETFs to Buy After Strong Week on Wall Street
Wall Street ended its seven-week losing streak last week. The S&P 500 recorded its best week since November 2020. The S&P 500 was up 6.6% last week while the Nasdaq Composite was off 6.8%. The Dow Jones Industrial Average Index, which saw its first eight-week losing streak since 1923 in the week ending May 20, advanced 6.2% last week. Small-cap index Russell 2000 gained 6.9%.
Earnings results from several retailers also rekindled bullishness among investors. Memorial Day weekend and the related uptick in discretionary spending also contributed to the market rally last week.
Adding to the upbeat scenario is the decline in the initial jobless claims for the week ended May 21. The same came in at 210,000, declining from the previous week's reading of 218,000, per a CNBC article. Also, certain U.S. economic data releases have been encouraging so far.
The Federal Reserve reported that industrial production increased 1.1% last month, well above the consensus estimate of 0.5%. Headline personal consumption expenditures (PCE) increased 6.3% in April over last year compared to March's 6.6% increase, and core PCE rose by 4.9% compared with 5.2% in the prior month.
Quincy Krosby, chief equity strategist for LPL Financial, believes that U.S. consumer spending is relatively strong. In this regard, she mentioned that the data releases last week "suggest the economy is slowing, and the Fed appears poised to raise rates at a 50 basic point clip over the next two months. But the notion that the consumer, 70 percent of the U.S. economy, is on a spending strike, is overblown as earnings reports coupled with positive guidance indicate otherwise", as stated in a CNBC article.
Against this backdrop, below we highlight a few ETF areas that topped the list last week.
Energy
S&P Oil & Gas Exploration Bull 3X Direxion – Up 30.9%
Shipping
Sonicshares Global Shipping ETF – Up 7.1%
Income
Global Beta ETF Trust Global Income ETF – Up 5.3%
Carbon Allowance
Kraneshares California Carbon Allowance ETF – Up 5.2%
Commodity
Optimum Yield Diversified Commodity Strategy – Up 3.8%
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.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights GUSH, BOAT GBDV, KCCA and PDBC
For Immediate Release
Chicago, IL – June 01, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. ETFs recently featured in the blog include: S&P Oil & Gas Exploration Bull 3X Direxion (GUSH - Free Report) , Sonicshares Global Shipping ETF (BOAT - Free Report) , Global Beta ETF Trust Global Income ETF , Kraneshares California Carbon Allowance ETF (KCCA - Free Report) , and Optimum Yield Diversified Commodity Strategy (PDBC - Free Report) .
Here are highlights from Tuesday’s Analyst Blog:
5 Best ETFs to Buy After Strong Week on Wall Street
Wall Street ended its seven-week losing streak last week. The S&P 500 recorded its best week since November 2020. The S&P 500 was up 6.6% last week while the Nasdaq Composite was off 6.8%. The Dow Jones Industrial Average Index, which saw its first eight-week losing streak since 1923 in the week ending May 20, advanced 6.2% last week. Small-cap index Russell 2000 gained 6.9%.
Earnings results from several retailers also rekindled bullishness among investors. Memorial Day weekend and the related uptick in discretionary spending also contributed to the market rally last week.
Adding to the upbeat scenario is the decline in the initial jobless claims for the week ended May 21. The same came in at 210,000, declining from the previous week's reading of 218,000, per a CNBC article. Also, certain U.S. economic data releases have been encouraging so far.
The Federal Reserve reported that industrial production increased 1.1% last month, well above the consensus estimate of 0.5%. Headline personal consumption expenditures (PCE) increased 6.3% in April over last year compared to March's 6.6% increase, and core PCE rose by 4.9% compared with 5.2% in the prior month.
Quincy Krosby, chief equity strategist for LPL Financial, believes that U.S. consumer spending is relatively strong. In this regard, she mentioned that the data releases last week "suggest the economy is slowing, and the Fed appears poised to raise rates at a 50 basic point clip over the next two months. But the notion that the consumer, 70 percent of the U.S. economy, is on a spending strike, is overblown as earnings reports coupled with positive guidance indicate otherwise", as stated in a CNBC article.
Against this backdrop, below we highlight a few ETF areas that topped the list last week.
Energy
S&P Oil & Gas Exploration Bull 3X Direxion – Up 30.9%
Shipping
Sonicshares Global Shipping ETF – Up 7.1%
Income
Global Beta ETF Trust Global Income ETF – Up 5.3%
Carbon Allowance
Kraneshares California Carbon Allowance ETF – Up 5.2%
Commodity
Optimum Yield Diversified Commodity Strategy – Up 3.8%
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 >>
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.