S&P 500's Best 3-Day Run in 2024: ETF Areas That Won

Zacks05-07

Wall Street was in great shape on Monday, with the S&P 500 experiencing its largest three-day rally of the year, fueled by anticipations of Federal Reserve rate cuts in 2024 and upbeat earnings as ...

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The S&P 500 increased by 3.23% and the tech-focused Nasdaq Composite advanced by 4.8%. The Dow Jones Industrial Average saw a 2.5% rise.On May 6, 2024, Tom Barkin, President of the Richmond Federal Reserve, commented that the current interest rates should be enough to gradually reduce inflation to the Fed's target of 2%. Per Barkin, \"the economy is moving toward better balance, but no one wants inflation to reemerge.\". In addition, John Williams, President of the Federal Reserve Bank of New York, stated that any decisions on rate cuts would be based on a comprehensive review of economic data, but noted that the current monetary policy is \"in a very good place.\". According to the CME FedWatch Tool, over two-thirds of wagers now predict a rate cut from ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1974910355.USD":"Allianz Thematica Cl AMg DIS USD","SSO":"两倍做多标普500ETF","HWM":"Howmet Aerospace Inc.","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","SDS":"两倍做空标普500ETF","BK4534":"瑞士信贷持仓","SH":"标普500反向ETF","VOO":"Vanguard标普500ETF","TAN":"太阳能ETF-Guggenheim","OEF":"标普100指数ETF-iShares","SNSR":"Global X Internet of Things Thematic ETF","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC",".SPX":"S&P 500 Index","OEX":"标普100","SPXU":"三倍做空标普500ETF","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓","SPY":"标普500ETF","UPRO":"三倍做多标普500ETF","BK4123":"调查和咨询服务","IBB":"生物科技指数ETF-iShares Nasdaq","GRMN":"佳明","LDOS":"Leidos Holdings Inc","BK4519":"光伏太阳能","LU0006061336.USD":"Blackrock US Small and MidCap Opportunities A2 USD","DRIV":"Global X Autonomous & Electric Vehicles ETF","BK4504":"桥水持仓","IVV":"标普500指数ETF","BWA":"博格华纳","FSLR":"第一太阳能","ITA":"iShares Dow Jones U.S. Aerospace","LU0323240290.USD":"HSBC GIF GLOBAL EQUITY CLIMATE CHANGE \"AD\" INC","FDN":"First Trust Dow Jones Internet I"},"translate_title":"标普500 2024年最好的3天运行：获胜的ETF区域","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VOO":1,"TAN":1,"SPY":1,"SNSR":1,".SPX":1,"LDOS":1,"ITA":1,"IBB":1,"GRMN":1,"FSLR":1,"FDN":1,"DRIV":1,"BWA":1,"HWM":0.9,"US10Y.BOND":0.9,"US7Y.BOND":0.9,"US6M.BOND":0.9,"US5Y.BOND":0.9,"US3Y.BOND":0.9,"US30Y.BOND":0.9,"US2Y.BOND":0.9,"US12M.BOND":0.9,"SDS":0.6,"UPRO":0.6,"US912797HH31.BOND":0.6,"US912797HE00.BOND":0.6,"US912797GW17.BOND":0.6,"US912797FH58.BOND":0.6,"US912797GL51.BOND":0.6,"US912797FS14.BOND":0.6,"US912797GK78.BOND":0.6,"US912797GB79.BOND":0.6,"ESmain":0.6,"IVV":0.6,"SSO":0.6,"OEF":0.6,"OEX":0.6,"SH":0.6,"SPXU":0.6},"content_text":"Wall Street was in great shape on Monday, with the S&P 500 experiencing its largest three-day rally of the year, fueled by anticipations of Federal Reserve rate cuts in 2024 and upbeat earnings as well as guidance and analysts’ estimates. The S&P 500 increased by 3.23% and the tech-focused Nasdaq Composite advanced by 4.8%. The Dow Jones Industrial Average saw a 2.5% rise.\nOn May 6, 2024, Tom Barkin, President of the Richmond Federal Reserve, commented that the current interest rates should be enough to gradually reduce inflation to the Fed's target of 2%. Per Barkin, \"the economy is moving toward better balance, but no one wants inflation to reemerge.\"\nIn addition, John Williams, President of the Federal Reserve Bank of New York, stated that any decisions on rate cuts would be based on a comprehensive review of economic data, but noted that the current monetary policy is \"in a very good place.\"\nStocks continued their upward trend from last week, thanks to a jobs report that came in at decent but fell short of estimates. Such data sparked concerns about bets over sooner-than-expected rate cuts.\nAccording to the CME FedWatch Tool, over two-thirds of wagers now predict a rate cut from the Fed in September, with most traders anticipating at least two reductions by the year's end (read: 4 Sector ETFs & Stocks Likely to Benefit Despite Soft Jobs Data).\nLet’s take a at the sectors that stayed strong in the past three days.\nBiotech – iShares Biotechnology ETF (IBB)\nSeveral biotech stocks have been rallying lately. Some of the recent S&P 500 biotech and pharma winners include BioTechne Corp, Moderna, Amgen and Pfizer. The fund IBB gained more than 4% in the past five days and 3% in the past three days.\nThe U.S. benchmark treasury yield fell sharply in May. 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.\nAerospace & Defense – iShares U.S. Aerospace & Defense ETF (ITA)\nThe fund added about 3% during the last three days. Howmet Aerospace HWM surged 20% in the same period. Howmet Aerospace engages in providing engineered solutions for customers in the transportation and aerospace (both defense and commercial) industries. Another aerospace and defense stock Leidos Holdings (LDOS) added more than 3% in the last three days.\nThe Aerospace and Defense sector has been an area to watch lately, given the escalating geopolitical tensions and the depletion of weapon stocks. Additionally, rising merger and acquisition activities, and cheaper valuation are favorable for the sector.\nClean Energy – Invesco Solar ETF (TAN)\nFirst Solar Inc. FSLR added 9% in the last three days, while the fund TAN gained 7.3% (as of May 6). Electricity generation in the Solar Energy market is projected to amount to 0.73tn KWh in 2024, and an annual growth rate of 3.57% is expected (CAGR 2024-2028).\nTechnology – Global X Internet of Things ETF (SNSR)\nThe fund has advanced about 5% in the last three days. Garmin Ltd. GRMN has about 7.29% exposure to SNSR. Garmin is an original equipment manufacturer of navigation and communication equipment that incorporate the global positioning system-based technology. The latest craze of AI and self-driving cars has boosted the demand for products Garmin produces.  \nElectric Vehicles – Global X Autonomous & Electric Vehicles ETF (DRIV)\nAnother stock, BorgWarner BWA, jumped 11% in the last three days. The company is a global leader in clean and efficient technology solutions, required for combustion, hybrid and electric vehicles. Its products include four-wheel-drive and all-wheel-drive transfer cases (primarily for light trucks and sport utility vehicles or SUVs), as well as automatic transmission and timing chain systems.\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\nGarmin Ltd. (GRMN) : Free Stock Analysis Report\nFirst Solar, Inc. (FSLR) : Free Stock Analysis Report\nBorgWarner Inc. (BWA) : Free Stock Analysis Report\nGlobal X Autonomous & Electric Vehicles ETF (DRIV): ETF Research Reports\niShares Biotechnology ETF (IBB): ETF Research Reports\nInvesco Solar ETF (TAN): ETF Research Reports\niShares U.S. Aerospace & Defense ETF (ITA): ETF Research Reports\nGlobal X Internet of Things ETF (SNSR): ETF Research Reports\nHowmet Aerospace Inc. (HWM) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"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":"4.22.4","shortVersion":"4.22.4","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/2433786984"}