The equities market and stock exchange traded funds were off to a good start in November, shaking off the effects of superstorm Sandy and heading into the election. The broader markets, though, ended relatively flat over the month as Greek debt and U.S. fiscal cliff concerns kept pressure on investors.
The top performing ETFs over November include ETFS Physical Palladium Shares (NYSEArca: PALL) up 14.8%, EGShares India Consumer ETF (NYSEArca: INCO) up 11.5% and First Trust NASDAQ CEA Smartphone Index Fund (NYSEArca: FONE) up 9.7%.
The Dow Jones Industrial Average dipped 0.2% over the past month and the S&P 500 gained 0.6%. Meanwhile, the Nasdaq Composite added 0.8% and is in position for its first positive November since 2009, reports Kate Gibson for MarketWatch. The PowerShares QQQ (NasdaqGM: QQQ) gained 0.9% over the past month
Palladium prices jumped November as mine strikes, safety stoppages and supply cuts created the largest palladium shortage in over a decade. [Palladium ETF Bolstered on Largest Shortage in a Decade]
A focus on domestic structural reforms has helped bolster India’s economy. According to a Goldman Sachs report, the reforms, “which have begun in earnest,” should help boost trend growth, The Hindu reports. Schwab analysts project growth to accelerate to 6.5% in 2013 and 7.2% in 2014 from 5.4% in 2012.
In the smartphone industry, worldwide sales are quickly expanding, with record returns from Samnsung and Apple. Looking forward, the space is getting more competitive as new RIM and Microsoft smartphone products hit the market.
Other top performing include those that track the tech sector, emerging markets, automobiles, airliners and silver.