January was an action packed month that ultimately rocked global markets towards its close. For the U.S., tensions in the Middle East, the signing of the anticipated 'Phase one' trade deal between the U.S. and China and the subsequent coronavirus have captured markets as investors fear the worst in terms of future global growth.
For the month, the S&P 500
Moreover, the Nasdaq grew 3% for the month, signaling that the coronavirus's impact on the world's second largest economy may not have touched major U.S. companies yet. Top performers under the Invesco QQQ Trust
It appears that after the large market sell-off that took place last Friday, the U.S. stock market is bouncing back. However, many analysts believe that this may be a short-term period of growth due to the possibility of the coronavirus having greater impact on the financial quarter.
ETFs on the move:
Utilities have been showing a great run this week as more defensive stocks gain investor attention. This sector has already outpaced the S&P 500 in January and a cool off is no where in sight for the short-term. Utilities Select Sector SPDR Fund
Technology is also getting a boost from investors calling for more defensive market plays. Technology Sector Sector SPDR Fund
Gold has been seeing insane growth; investors flock to the commodity in times of distress. A few gold based ETFs include SPDR Gold Trust
Energy Select Sector SPDR Fund
Retail has seen a recent rebound as Ralph Lauren topped the S&P 500 due to the company's focus moving away from malls and department stores and more toward direct to consumer initiatives. SDPR S&P Retail ETF's