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Best ETF Areas of Last Week

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Wall Street was upbeat last week, with the S&P 500 adding 0.6%, the Dow Jones gaining 1.1% and the Nasdaq advancing 1.4%. The benchmark U.S. treasury yield started the week at 4.63%, hit a high of 4.69% and ended the week at 4.50%. 

The Fed’s plan to slower the balance sheet tightening process and the release of downbeat jobs data (which triggered bets over sooner-than-expected rate cuts) dragged down bond yields last week. The U.S. economy added 175,000 jobs in April, well below Wall Street expectations of 240,000. Healthcare and social assistance led the way with a gain of 87,000 jobs.

Meanwhile, corporate earnings have been bullish, with Apple and Amazon beating on both lines. The corporate commentaries released throughout the week indicated the importance of AI growth and investments (read: ETFs to Tap Amazon's Q1 Earnings Beat, AI Growth).

Meanwhile, crude oil ETFUnited States Oil Fund LP (USO - Free Report) fell about 6.2% last week on weak demand growth and lesser supply worries emanating from the Gaza-Israel peace talk. Higher U.S. crude output, too, played its role in driving down the price of oil (read: Where Could Oil Go From Here? ETFs in Focus).

Against this backdrop, below we highlight winning ETFs of last week.

ETF Areas in Focus

Natural Gas

United States Natural Gas Fund LP (UNG - Free Report) ) – Up 11.5%

Natural gas prices rose massively last week, driven by forecasts anticipating heightened demand for the commodity in the coming days. A surge in feed gas flow to liquefied natural gas (LNG) export facilities mainly boosted the demand for natural gas.


Amplify Seymour Cannabis ETF (CNBS - Free Report) ) – Up 11%

Shares of cannabis companies surged last week after the U.S. Department of Justice (DoJ) moved to reclassify marijuana as a less dangerous schedule III drug. This indicates a moderate to low risk of physical and psychological dependence. Cannabis firms would stand to gain significantly as they would no longer fall under the purview of Section 280E of the U.S. federal tax code, presenting one of the most notable advantages.


Range Cancer Therapeutics ETF (CNCR - Free Report) ) – Up 10.2%

The U.S. benchmark treasury yield fell sharply last week. This boosted growth stocks and biotech technology. Novel drug launches, likely low rates and potential easy access to funds should buoy the zone in the near term.


KraneShares Hang Seng TECH Index ETF (KTEC - Free Report) ) – Up 9.2%

Despite the Chinese economy’s poor performance last year, global investors are returning to its equities this year. Compelling valuation, market restructuring, billions in buybacks, the AI boom and its impact on various industries have been boosting the space, of late. Foreign carmakers are joining hands with Chinese companies operating in artificial intelligence and other smart car technology. China tech ETF (CQQQ - Free Report) added 6.4% last week while Alibaba and Baidu gaining about 7% and 8%, respectively (read: China Tech ETFs in Upbeat Momentum: Here's Why).


Sprott Junior Uranium Miners ETF (URNJ - Free Report) ) – Up 8.9%

Uranium prices were above $90 per pound, the highest in over seven weeks. The surge noticed from late 2023 as due to supply concerns that boosted speculative buying from physical trusts. The US Senate approved a bill to ban imports of nuclear fuel from Russia, the world’s top producer. This, coupled with supply reductions of uranium ores from Canada and Kazakhstan last year, contributes to the upward trend in uranium prices.


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