Despite Today’s Selling, Stocks Impressively Close Near Monthly Highs

Posted on Posted in Views From The Hill

By J Clinton Hill, Capital Markets Strategist @ Hillbent.com

ETF Market Commentary

Bullish and Bearish ETF Market CommentaryI like to say that how a man lives means so much more than how he dies. If any meaning is to be derived from the month of November, it is one of strength. Despite ceding all of their gains from earlier in the day, stocks finished the month closing closer to their highs vs. lows. (See Hillbent’s premium monthly ETF analysis for a more in-depth review.)

Meanwhile, today’s much awaited OPEC meeting revealed that members agreed to cut production by 1.2mm barrels per day. The big surprise was Saudi Arabia absorbing most of the burden while Iran continues pumping to reestablish its pre-sanction market share. Standing on the sidelines is Russia, which is supposed to cap its production, but its national interests rarely yield to international ones. Include North America’s shale producers and I say good luck with restoring equilibrium to the supply-demand situation in the energy markets.

With respect to the economy, Chicago’s PMI reached its highest level in a year, the Private Sector continues to add more jobs, and Consumer Spending is rising. This all but practically assures a Fed rate increase and at the very least halts the advance in longer term Treasury Bonds as the 10-Year rate resumed its upward course to retest resistance.

As the writing of Hillbent’s monthly report awaits, I think I shall stop at this point. Good day or evening to all, depending upon respective time zones.

(Please refer to our ETF summary table below for a performance analysis of asset classes.) Signing off @ Hillbent…

 


ETF Performance

 

RS 1Yr Exchange Traded Fund Last Chg % Chg
  Equities      
98 DJ-30 Industrials (DIA) 191.40 0.21 0.11%
96 SP-500 (SPY) 220.38 -0.53 -0.24%
91 Nasdaq-100 (QQQ) 117.50 -1.44 -1.21%
94 Russell-2k (IWM) 131.61 -0.65 -0.49%
56 EAFE (EFA) 56.79 -0.06 -0.11%
74 Emerging Mkts (EEM) 35.50 0.06 0.17%
35 Europe FTSE (VGK) 45.91 -0.03 -0.07%
74 Latin America 40 (ILF) 28.11 0.35 1.26%
76 Brazil (EWZ) 33.49 0.29 0.87%
6 Japan (EWJ) 49.89 -0.08 -0.16%
85 Pacific Ex-Japan (EPP) 41.05 -0.30 -0.73%
86 FTSE China 25 (FXI) 37.59 0.13 0.35%
0 VIX Short-Term Futures (VXX) 27.98 0.07 0.25%
         
  Major Equity Sectors      
92 Consumer Discretionary (XLY) 81.85 -0.69 -0.84%
37 Consumer Staples (XLP) 50.58 -0.82 -1.60%
97 Energy (XLE) 74.43 3.60 5.08%
60 Financials (XLF) 22.51 0.30 1.35%
46 Healthcare (XLV) 68.75 -0.66 -0.95%
97 Industrials (XLI) 62.41 0.08 0.13%
99 Materials (XLB) 49.94 0.53 1.07%
26 Real Estate (XLRE) 30.01 -0.37 -1.22%
93 Technology / Info (VGT) 120.35 -1.34 -1.10%
71 Telecom (IYZ) 31.95 -0.64 -1.96%
46 Utilities (XLU) 46.75 -1.52 -3.15%
         
  Bonds & Fixed Income      
5 20+ Yr Treasury (TLT) 120.24 -1.98 -1.62%
11 Aggregate Bond Fund (AGG) 108.24 -0.43 -0.40%
52 Treasury Inflation Protection (TIP) 113.46 0.06 0.05%
35 Investop Corp Bond (LQD) 116.84 -0.44 -0.38%
85 High Yield Corp Bond (HYG) 85.65 0.04 0.05%
4 Pimco Intermed Muni Bonds (MUNI) 52.38 -0.02 -0.04%
2 High Yield Muni (HYD) 28.75 -0.34 -1.17%
         
  Currencies      
96 US Dollar Bullish (UUP) 26.25 0.14 0.54%
6 Euro Trust (FXE) 102.98 -0.52 -0.50%
32 Japanese Yen Trust (FXY) 84.26 -1.54 -1.79%
         
  Commodities      
90 DB Commodity Index (DBC) 15.21 0.45 3.05%
37 Gold (GLD) 111.75 -1.52 -1.34%
59 US Oil (USO) 10.93 0.87 8.65%
         
  Real Estate      
45 DJ Real Estate (IYR) 74.85 -0.95 -1.25%
69 DJ Home Construction (ITB) 27.37 -0.56 -2.01%
30 Residential Real Estate Index (REZ) 59.57 -0.48 -0.80%

 

Signing off @ Hillbent…

 

(For more a more detailed and extensive coverage of ETFs, please refer to our premium research service, ETF LookOut Points.)

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