ETF/No Load Fund Tracker StatSheet
THE LINK TO OUR CURRENT ETF/MUTUAL FUND STATSHEET IS:
STOCKS LOWER ON THE WEEK
[Chart courtesy of MarketWatch.com]
1. Moving the Markets
Stocks declined this week, closing down about 0.5% as measured by the S&P 500. The markets bounced around in a narrow range for the most part as investors got their first look at Q1 earnings, but ultimately finished with a pullback Friday on international headlines out of Greece and China and mixed U.S. data.
In tech today, Apple’s (AAPL) stock is down $1.53 cents, or 1.2% this Friday. Some investors and analysts are still holding out hope for Apple’s $1 trillion dream, but many remain pessimistic at present. The current 18-month price target on Apple is $142.42 a share, which equates to an expected market value of $829.6 billion. Still a long ways to go before hitting the Trillion dollar mark!
In auto news today, Ford (F) confirmed that it is investing $2.5 billion in new engine and transmission plants in the Mexican states of Chihuahua and Guanajuato. The investment, which Ford says will created 3,800 direct jobs, has been widely expected this week and it follows an announcement by Toyota (TM) on Wednesday that it is spending $1 billion in Mexico on a new factory to build redesigned 2020 Corolla compacts starting in 2019.
As earnings season continues in the coming few weeks, more volatility could return to the markets, underscoring the importance of having an exit strategy, should things go south too much and into bearish territory. First-quarter earnings season will likely set much of the tone for the week ahead. In addition, existing home sales will be reported on Wednesday. New home sales are expected Thursday, and durable goods orders are expected on Friday.
All of our 10 ETFs in the Spotlight pulled back today as downward momentum was too much to overcome. Leading the charge into the red was XLY with -1.48% while DVY held up best with a loss of -0.83%.