The equities market and stock exchange traded funds ended October flat in muted action as a renewed FBI investigation into Democratic runner Hillary Clinton’s emails added to political risk with just a few days until election day.
U.S. markets weakened over October, with the Dow Jones Industrial Average down 0.8%, the Nasdaq Composite down 1.8% and the S&P 500 1.8% lower.
The best performing non-leveraged exchange traded products for the past month include the iPath Global Carbon ETN (NYSEArca: GRN) up 20.7%, iPath Seasonal Natural Gas ETN (NYSEArca: DCNG) up 12.7% and First Trust Brazil AlphaDEX Fund (NYSEArca: FBZ) up 12.0%.
GRN tracks the the Barclays Capital Global Carbon Index, which follows the performance of the most liquid carbon related credit plans, including both the European Union Emission Trading Scheme and the Kyoto Protocol’s Clean Development Mechanism.
DCNG is made up of a single Henry Hub Natural Gas futures contract that expires in December and rolls annually. In October of each year, the index closes out its position in the current year’s December contract and rolls into another contract expiring in the December of the following calendar year.
SEE MORE: Looking At Brazil ETFs After a Rate Cut
Brazilian stocks have strengthened as the country’s central bank lowered benchmark Selic rate, a potential sign of growing confidence that inflation is beginning to ebb and that the local economy is improving.
On the other hand, the worst non-leveraged ETPs of the past month include the BioShares Biotechnology Clinical Trials Fund (NasdaqGM: BBC) down 19.9%, Loncar Cancer Immunotheraphy ETF (NasdaqGM: CNCR) down 18.4% and ALPS Medical Breakthroughs ETF (NYSEArca: SBIO) down 16.4%.
[related_stories]The month of October started off on a positive note with strong economic data from the manufacturing sector, lower jobless claims and steady employment numbers. However, global markets remained muted on speculation the European Central Bank would begin tapering its quantitative easing program.
The equities market began to weaken mid-October after stronger economic news fueled bets that the Federal Reserve would begin cutting interest rates as soon as December.
Overall, October was stuck in sideways trading with positive earnings reports and signs of economic strength buoying markets.
Nevertheless, markets dropped off toward the end of the month after the FBI said it was looking into additional emails related to Hillary Clinton, which lowered the outlook of a Clinton presidency and added to greater equity volatility fueled by political risk from a Donald Trump administration.
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