ETF Winners Amid Last Week's Record Loss in "Magnificent 7"

Zacks04-22

Last week witnessed the largest collective loss for the "Magnificent Seven" technology-related stocks, with a total of $950 billion erased from their market capitalizations, as quoted on MarketWatch. ...

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This figure surpasses the previous record loss of $872 billion in January 2022.High inflation, talks of higher-for-longer interest rates in the United States, flare-ups in geopolitical crisis and receding euphoria about AI investments weighed on risk-on trade sentiments. High-growth stocks were especially marred by a surge in interest rates.Overall, the S&P 500 lost 3.1%, the Dow Jones advanced 0.01% and the Nasdaq plummeted 5.5%, respectively. The benchmark U.S. treasury yield started the week at 4.63%, hit a closing high of 4.67% on Apr 16 and ended the week at 4.62%.Tesla Inc TSLA: Leading the decline in percentage terms, Tesla's stock slumped by 14%, reducing its market cap by $76 billion and losing its ranking among the largest U.S. companies.Nvidia Corp NVDA: Experiencing the most si","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","TSLA":"特斯拉","LU0056508442.USD":"贝莱德世界科技基金A2","SARK":"Tradr 2X Short Innovation Daily ETF","BK4587":"ChatGPT概念","CPER":"美国铜指数基金","LU0861579265.USD":"联博低波幅策略股票基金A","IE00BD6J9T35.USD":"NEUBERGER BERMAN NEXT GENERATION MOBILITY \"A\" (USD) ACC","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","MSFT":"微软","BK4577":"网络游戏","ASML":"阿斯麦","MAGQ":"ROUNDHILL DAILY INVERSE MAGNIFICENT SEVEN ETF","AAPL":"苹果","NVDA":"英伟达","IE00BMPRXN33.USD":"NEUBERGER BERMAN 5G CONNECTIVITY \"A\" (USD) ACC","BK4579":"人工智能","LU2326559502.SGD":"Natixis Loomis Sayles US Growth Equity P/A SGD-H","ALUM":"USCF ALUMINUM STRATEGY FUND","META":"Meta Platforms, Inc.","AMZN":"亚马逊","FDN":"First Trust Dow Jones Internet I","BK4501":"段永平概念","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU0444971666.USD":"天利全球科技基金","GOOG":"谷歌","LU0289941410.SGD":"AB FCP I Dynamic Diversified AX SGD","03165":"华夏欧优股对冲","GOOGL":"谷歌A","BCIM":"abrdn Bloomberg Industrial Metals Strategy K-1 Free ETF"},"translate_title":"上周“壮丽7”创纪录亏损中的ETF赢家","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1,"TSLA":1,"SARK":1,"MSFT":1,"META":1,"MAGQ":1,"GOOGL":1,"FDN":1,"CPER":1,"ALUM":1,"AMZN":1,"ASML":1,"BCIM":1,"US7Y.BOND":0.9,"US30Y.BOND":0.9,"US2Y.BOND":0.9,"US12M.BOND":0.9,"US10Y.BOND":0.9,"US3Y.BOND":0.9,"NVDA":0.9,"US5Y.BOND":0.9,"US6M.BOND":0.9,"GOOG":0.9,"US912797HH31.BOND":0.6,"US912796CX52.BOND":0.6,"US912797FH58.BOND":0.6,"US912797FS14.BOND":0.6,"US912797GB79.BOND":0.6,"US912797GK78.BOND":0.6,"US912797GL51.BOND":0.6,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6,"US912797HG57.BOND":0.6,"03165":0.6},"content_text":"Last week witnessed the largest collective loss for the \"Magnificent Seven\" technology-related stocks, with a total of $950 billion erased from their market capitalizations, as quoted on MarketWatch. This figure surpasses the previous record loss of $872 billion in January 2022.\nHigh inflation, talks of higher-for-longer interest rates in the United States, flare-ups in geopolitical crisis and receding euphoria about AI investments weighed on risk-on trade sentiments. High-growth stocks were especially marred by a surge in interest rates.\nOverall, the S&P 500 lost 3.1%, the Dow Jones advanced 0.01% and the Nasdaq plummeted 5.5%, respectively. The benchmark U.S. treasury yield started the week at 4.63%, hit a closing high of 4.67% on Apr 16 and ended the week at 4.62%.\nIndividual Performances of Key Players of \"Magnificent Seven\"\n    Tesla Inc TSLA: Leading the decline in percentage terms, Tesla's stock slumped by 14%, reducing its market cap by $76 billion and losing its ranking among the largest U.S. companies.\n    Nvidia Corp NVDA: Experiencing the most significant absolute loss, Nvidia's market cap plunged nearly $300 billion due to a weekly stock drop of 13.6% and a historical single-day decline of 10% on Apr 19, 2024.\n    Apple Inc AAPL and Microsoft Corp MSFT: Both companies contributed significantly to the overall loss, with Apple shedding $178 billion and Microsoft $169 billion in market value.\n    Amazon.com AMZN: Amazon lost $118 billion in market cap after a decline of 2.56% in its stock price.\n    Alphabet Inc GOOGL: Alphabet saw a reduction of $41 billion from its market valuation.\n    Meta Platforms META: Meta's market cap fell by $68 billion during the week.\nSemiconductor Market Crash\nThe semiconductor sector, particularly impacted by these losses, saw a broader \"unwind\" according to industry analysts, per a MarketWatch article. Nvidia's record losses indicate the intense pressure faced by chipmakers, suggesting the likelihood of a sustained downturn in the sector.\nThere was also ASML Holding's ASML — a world leader in the manufacture of advanced technology systems for the semiconductor industry — announcement of a steep decline in bookings during the first quarter, catching investors off guard last week.\nThe news was crucial for the chip industry as ASML’s key customers include TSMC, Samsung and Intel, the world’s top processor foundries, which, in turn, make chips for AMD, Nvidia, Qualcomm and Apple, per CNBC (read: Pain or Gain Ahead of Semiconductor ETFs?).\nHeightened Volatility in Wall Street\nThere was heightened volatility and uncertainty in the market due to concerns over high price inflation and potential shifts in Federal Reserve policy. There were stricter remarks from Atlanta Fed president Raphael Bostic that reinforced worries about interest rate cuts not happening until the end of the year. Bond yields rose accordingly and mortgage rates topped 7%.\nUpbeat U.S. Retail Sales Data\nU.S. retail sales were better than expected in March after returning to a growth trajectory in February. On Apr 15, the Department of Commerce reported that retail sales grew 0.7% month over month in March, well above the consensus estimate of 0.3%. Moreover, February’s data was revised upward to an increase of 0.9% from 0.6% reported earlier.\nYear over year, retail sales increased 3.6% in March. Core retail sales (excluding auto) grew 1.1% month over month in March, well above the consensus estimate of 0.5%. Moreover, February’s data was revised upward to an increase of 0.6% from 0.3% reported earlier (read: 3 ETF Areas & Stocks to Win on Upbeat March Retail Sales).\nETFs in Focus\nAgainst this backdrop, below we highlight the winning ETFs of last week.\nAXS Short Innovation Daily ETF SARK – Up 10.6%\nThe AXS Short Innovation Daily ETF seeks daily inverse investment results and is intended to be used as a short-term trading vehicle. The fund charges 75 bps in fees.\nRoundhill Daily Inverse Magnificent Seven ETF MAGQ – Up 8.3%\nThe Roundhill Daily Inverse Magnificent Seven ETF seeks daily investment results, before fees and expenses, that correspond to the inverse of the performance of the Roundhill Magnificent Seven ETF. The fund charges 95 bps in fees.\nUSCF Aluminum Strategy Fund ALUM – Up 7.2%\nThe USCF Aluminium Strategy Fund seeks investment results that generally correspond over the long term to the performance of the price of aluminum. The fund charges 65 bps in fees.\nabrdn Bloomberg Industrial Metals Strategy K-1 Free ETF BCIM – Up 6.2%\nThe underlying Bloomberg Industrial Metals Subindex consists of 4 commodities, which are weighted 2/3 by trading volume and 1/3 by world production with an additional criteria of global economic significance. The fund charges 40 bps in fees.\nUnited States Copper Index Fund CPER – Up 5.2%\nThe underlying SummerHaven Copper Index Total Return reflects the performance of the investment returns from a portfolio of copper futures contracts on the COMEX exchange. The fund charges 97 bps in fees.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAmazon.com, Inc. (AMZN) : Free Stock Analysis Report\nApple Inc. (AAPL) : Free Stock Analysis Report\nMicrosoft Corporation (MSFT) : Free Stock Analysis Report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nASML Holding N.V. (ASML) : Free Stock Analysis Report\nTesla, Inc. (TSLA) : Free Stock Analysis Report\nAlphabet Inc. (GOOGL) : Free Stock Analysis Report\nUnited States Copper ETF (CPER): ETF Research Reports\nMeta Platforms, Inc. (META) : Free Stock Analysis Report\nabrdn Bloomberg Industrial Metals Strategy K-1 Free ETF (BCIM): ETF Research Reports\nAXS Short Innovation Daily ETF (SARK): ETF Research Reports\nUSCF Aluminum Strategy Fund (ALUM): ETF Research Reports\nRoundhill Daily Inverse Magnificent Seven ETF (MAGQ): ETF Research Reports\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429492177"}