Semiconductor and House Stocks Lead U.S. Stock Market Gains
Semiconductor and House Stocks Lead U.S. Stock Market Gains; Europe Trades Higher As Well
"After a selloff that began in mid-August, the market seems to have found its footing in September,” said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. “The lack of a U.S. strike on Syria, some comfort with Fed tapering and recent Chinese export data have all contributed to recent market strength. In addition, crude oil continues to rise on supply data and the situation in the Middle East."
TOP WEEKLY INDEX MOVERS (+ / -)
|TOP 5 EQUITY INDEXES:||9/04 - 9/10|
|NASDAQ EM EUROPE INDEX (NQEMEU)||+6.9%|
|PHLX SEMICONDUCTOR INDEX (SOX)||+6.3%|
|NASDAQ EMERGING MARKETS INDEX (NQEM)||+5.7%|
|PHLX HOUSING SECTOR INDEX (HGX)||+5.3%|
|NASDAQ INTERNET INDEX (QNET)||+4.8%|
|TOP 5 COMMODITY INDEXES:||9/04 - 9/10|
|PHLX Gold/Silver Sector (XAU)||-5.9%|
|NASDAQ COMMODITY SILVER INDEX ER (NQCISIER)||-5.8%|
|PHLX OIL SERVICE SECTOR INDEX (OSX)||+5.4%|
|NASDAQ COMMODITY LEAN HOGS INDEX ER (NQCILHER)||+3.5%|
|NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER)||-3.4%|
OTHER NOTABLE INDEX MOVES
- The PHLX Semiconductor Index (SOX) rose 6.3% on the strong price performance of a number of U.S. stocks. Cyclical stocks led the week-over-week rally.
- Gold and silver weakened as the safe haven trade faded a bit on the delay of action in Syria. The PHLX Gold/Silver Sector Index (XAU), which tracks companies involved in the gold or silver mining industry, dropped 5.9% over the most recent 5-day period.
- Finally, cyclical pockets of the U.S. economy have led the recent rally. After being under pressure since the end of July, the PHLX Housing Sector Index (HGX) rose 5.3%.