Sunday, March 1, 2009

ETF Rewind - Week 9 (02/27/09)

(Click Image to Enlarge/ Glossary)

"Last week's performance looked just like the prior week's" -- way too much deja vu here, wouldn't you say? Yet the S&P500 (SPY) did close down yet again by -4.5% to new bear market lows on dour GDP readings (LA Times - Economy Contracts), the pseudo nationalization of Citibank (NWA - U.S. 36% Owners), and the unveiling of the new Presidential Administration's Tax and Budget proposals (NYT - Sweeping Change).

The only change in tune was a slight improvement in one unseemly sector -- Financials (XLF) +2.2%, even as the prior area of safety -- Healthcare (XLV), took it on the chin on nationalization concerns of its own, closing down -11.1% (US News - Nationalized Healthcare a Disaster?).

Rolling into March, Week Ten of 2009 features a ripe reporting calendar culminating in a Friday Jobs Report:

Scanning Bloomberg, I see a good deal of news breaking over the weekend, including AIG back to the till, Eastern European aid rejected, and a proposed HSBC capital raise. Enjoy your weekend!

Never Investment Advice

1 comment:

Jeff Pietsch CFA Esq said...

My apolgies that my working draft was posted a while while I was working out the kinks. Best, J