Momentum ETFs to Play as Wall Street Rallies?

Zacks08-17

Stocks surged higher on Thursday, with the Nasdaq Composite rising more than 2.3%, the S&P 500 gaining more than 1.6%, and the Dow Jones Industrial Average increasing about 1.4%, or roughly 550 points...

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The Consumer Price Index (CPI) showed its lowest year-over-year increase since early 2021, allowing the S&P 500 and Nasdaq to recover losses from earlier in the month.\nRetail giant Walmart WMT was a major focus, with its stock jumping more than 6% on Thursday following a largely positive earnings report. Walmart topped both earnings and revenue expectations and raised its full-year outlook.\n \nRetail Sales and Jobless Claims Data\nRetail sales data for July showed a surprising 1% increase, significantly surpassing Wall Street's forecast of a 0.4% rise, hinting at strong consumer resilience. Additionally, weekly jobless claims dropped to 227,000, below expectations and contributing to the market’s gains.\n \nTech Stocks Turn Around\nTech stocks – once the blue-eyed boys of Wall Street – recently suffered due to doubts over the faster success of AI Investments.  But that beaten-down space has also turned around. The cues of Fed rate cuts as early as in September probably have helped this space rebound. The AI behemoth NVIDIA Corporation NVDA has gained 4.1% on Thursday. The Technology Select Sector SPDR Fund XLK has advanced 2.9%.\n \nMomentum ETFs to Gain \nAs such, most of the related exchange-traded funds (ETFs) will likely see a nice boost. Notably, high-beta and high-momentum products are expected to outperform in the near term and are intriguing choices for a short spell. High-beta ETFs experience larger gains than the broader market counterparts in a bullish market, while momentum investing looks to capture profits from buying hot stocks.\nThese include Invesco S&P 500 High Beta ETF SPHB, iShares MSCI USA Momentum Factor ETF MTUM, Invesco Dorsey Wright Momentum ETF PDP, Invesco S&P MidCap Momentum ETF XMMO and Invesco S&P SmallCap Value with Momentum ETF XSVM.\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\nWalmart Inc. (WMT) : Free Stock Analysis Report\nNVIDIA Corporation (NVDA) : Free Stock Analysis Report\nTechnology Select Sector SPDR ETF (XLK): ETF Research Reports\niShares MSCI USA Momentum Factor ETF (MTUM): ETF Research Reports\nInvesco S&P 500 High Beta ETF (SPHB): ETF Research Reports\nInvesco Dorsey Wright Momentum ETF (PDP): ETF Research Reports\nInvesco S&P MidCap Momentum ETF (XMMO): ETF Research Reports\nInvesco S&P SmallCap Value with Momentum ETF (XSVM): 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":"1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0},"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/2460822431"}