Investors Fear “FOMO”

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Commentary Analysis

  • Sentiment: While there were no major economic data releases and the majority of earnings were positive, investors appear to be adopting an aversion towards risk.
  • Bond Rates: 10-Year Treasury yields retreated 39bps to 1.56 (-2.44%).
  • US Equities: The Russell-2000 (IWM) lagged benchmark US indices. Price declines for the Dow (DIA), SP-500 (SPY) and Nasdaq-100 (QQQ) were relatively even.
  • Large-Cap Volume Surgers: Int’l Business Machines (IBM) +3.79%; Philip Morris (PM) +2.54%; Tripadvisor (TRIP) -10.39%; and United Airlines (UAL) -8.53%
  • Small-Cap Volume Surgers: Clean Energy Fuels (CLNE) -21.03%; Dynavax Technologies (DVAX) -17.91%; and Penn Nat’l Gaming (PENN) -4.30%

ETF Daily Market Performance Summary: 20-April-2021

etf daily market summary for stocks, bonds, currencies, cryptocurrencies, commodities, real estate, and equity sectors
Click to enlarge

Sidebar Theme: Covid Progress 1 Step Forward 2 Steps Back

  • Realization that the global rise in Covid19 infections could slow down the rate of economic recovery more than expected was being reflected in falling Crude Oil prices and energy sector stocks.
  • Travel and mobilty have yet to return to normal levels as evidenced by American Airlines’ (AAL) negative earnings surprise and the selling of airline and other travel related stocks, which led to a drop in its stock and spilled over to Delta Airlines (DAL).

Covid19 Global Status Update

Sharp rises in new cases over the last 7-day period vs the previous time frame indicate infection rates are accelerating in some “pandemeic hotspots”, with exception to the US and Brazil.

WorseningImproving
India @ 1.6mm (+63%)
Turkey @ 420k (+12%)
Germany @ 143.4k (+21%)
Columbia @ 114k (+18%)
Argentina @ 162.5k (+12%)
USA @ 487.9k (-0.6%)
Brazil @ 456k (-8%)

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