ADVISORY, June 5, 2013 (GLOBE NEWSWIRE) -- The PHLX Housing Sector Index (HGX) suffered a sizable decline over the past week dropping by 4.8%. The recent backup in mortgage rates seemed to be the catalyst for the downside move as some investors fear higher rates could push prospective buyers off the fence. The NASDAQ Biotechnology Index (NBI) also declined considerably this week, falling 3.8% compared to last week when it rose nearly 2.0%.
"Home-building stocks might be vulnerable to a sell-off after their outperformance over the past year. Investors were looking to take advantage of money flowing into other cyclical opportunities," said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. "The semiconductor sector outperformed the broader market on the heels of M&A activity in the industry."
TOP WEEKLYINDEX MOVERS ( + / - )
TOP 5 EQUITY INDEXES:
PHLX HOUSING SECTOR INDEX (HGX)
NASDAQ BIOTECHNOLOGY INDEX (NBI)
NASDAQ EM EUROPE INDEX (NQEMEUR)
NASDAQ ASPA INDEX (NQASPA)
NASDAQ CHINA INDEX (NQCN)
TOP 5 COMMODITY INDEXES :
NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)
PHLX GOLD/SILVER SECTOR INDEX (XAU)
NASDAQ COMMODITY INDUSTRIAL METALS INDEX ER (NQCIIMER)
PHLX OIL SERVICE SECTOR INDEX (OSX)
NASDAQ COMMODITY LEAN HOGS INDEX ER (NQCILHER)
NOTABLE INDEX MOVES THIS WEEK
- Social unrest was the main driver in the NASDAQ EM Europe Index, falling by 3.1%. A disappointing April Unemployment Rate (12.2%) gave European investors a grim look at the month-over-month employment figure.
- Better than expected earnings and optimistic sell-side commentary gave the PHLX Semiconductor Index (SOX) a boost (0.3%), outperforming the broader markets.
- The NASDAQ Biotechnology Index (NBI) fell by 3.8%, which was susceptible to a month-end imbalance after year-to-date outperformance.
- The PHLX Gold/Silver Sector Index (XAU) led the commodity indexes, up 4.0% this week as precious metals began to recover after weeks of underperformance.
The NASDAQ Weekly Market Pulse was first published on www.nasdaq.com
CONTACT: MEDIA CONTACTS: Nick Lawler Intermarket Communications (212) 754-5613 firstname.lastname@example.org Chauntez Wilson Intermarket Communications (212) 754-5415 email@example.com Wayne Lee NASDAQ OMX (301) 978-4875 Wayne.firstname.lastname@example.org
In This StoryNDAQ
Nasdaq Press Center
Read the latest press releases, request a press kit, and get in touch with our press team.