Markets continued to climb higher this month with many exchange traded funds (ETFs) reaching new highs. Domestic large-cap advances helped pushed the Dow above 13,000 for the first time ever.
Global markets also rose as European stocks were the big winners. iShares MSCI Sweden (EWD) was up 10.6%, followed by iShares MSCI Germany (EWG) up 9.0% and iShares MSCI South Africa (EZA) 7.6%. Japan was the only country to experience a downturn, losing 2.3%.
Positive earnings reports helped boost many of the ETFs, especially the semiconductors, which were up 9.6% for the month. Metals & Mining ended the month with an 8.6% gain and biotechnology was up about 8%.
To view the full report for April, click here:Download 04-30-07ETFReport.pdf
For full disclosure, some of Tom Lydon’s clients own EWG.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.