SPDR S&P 500 ETF Trust (NYSE: SPY) has climbed to greater heights this week, recording new 52 week highs almost daily. The fund is closing out the week up almost +1.30%. Invesco QQQ Trust (NASDAQ: QQQ) has also recorded multiple yearly highs this week, ending ahead over +2.30%. The recent jump in market averages is coming from the U.S. and China reaching a 'Phase One' trade agreement in words last week, a move that has finally lifted the veil of uncertainty that has clouded market participates for over a year. Although 2019, and the past decade as a whole, was a strong growth year for all three U.S. market indices, many analysts have become wary of what 2020 will bring in terms of economic advancement.
ETFs on the move this week:
ProShares Online Retail ETF (NYSE: ONLN) this index tracks retailers that principally sell online or through other non-store channels. As the holiday season is reaching its final stretch, this is a good fund to consider to get in on the last minute shopping sales growth. The percentage of consumers solely or mostly shopping online versus in person at retail stores is increasing and is only expected to gain. This index is composed of giants like Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA) as well as other consumer companies like GrubHub (NYSE: GRUB) and eBay (NASDAQ: EBAY).
VanEck Vectors Semiconductor ETF (NASDAQ: SMH) has held a commanding growth for the year at almost 70%, with the fund crushing new 52-week highs this week and gains of almost 3%. This fund has rode the volatility the the trade war induced into the market and is really paying off at the end of the year. Stocks like Apple (NASDAQ: AAPL) that gain from better trade relations between the countries are really helping this fund's growth.
Chip Funds like Micron Technology (NASDAQ: MU) and Microchip Technology (NASDAQ: MCHP) are also growing well in current markets. Micron closed this week with a fresh 52-week high and growth of almost 8% where as Microchip lead a strong gain of about 3%. The positive gains by big stocks like Intel (NASDAQ: INTC) have thrived this week.
Technology Select Sector SPR Fund (NYSE: XLK) has posted two new 52 week highs this week with a growth of over +1.60% for the week. This sector is being carried by the growth of stocks like Tesla (NASDAQ: TSLA)that has hit record highs this week with the stock edging over $400 per share. The stock's growth comes from news of production increases in its Chinese factory and early deposits on its upcoming electric pick-up truck.
Energy Select Sector SPDR Fund (NYSE: XLE) is only up about 4% this month and it the only sector fund that is not over the double digit growth threshold for the year. This sector has been badly beaten by oil's volatility and the decline of energy stocks both for the year and the decade.