Wall Street closed its fourth consecutive losing week, its longest slide since May 2022.
The S&P 500 fell into correction territory, down 10% from its February highs. Investors continue to have anxiety over trade tensions and government spending cuts. While weaker-than-expected inflation data fueled hopes for Fed interest-rate reductions, markets still lingered on policy uncertainty from the White House.
Nevertheless, despite overall market weakness, some ETFs performed better than the rest last week.
These ETFs highlight areas of opportunity amid broader volatility.
GraniteShares 2x Long INTC Daily ETF (NASDAQ:INTW): This leveraged ETF surged as Intel (NASDAQ:INTC) shares resumed their rise amid expectations of AI-supported chip demand.
Defiance Daily Target 2X Long SMCI ETF (NASDAQ:SMCX): Super Micro Computer’s (NASDAQ:SMCI) share rise, fueled by strong earnings and growing AI server demand, drove the return on this ETF.
T-Rex 2X Inverse Ether Daily Target ETF (BATS:ETQ): A pullback in Ethereum prices benefited this inverse ETF, which profits on downturns in the cryptocurrency.
T-Rex 2X Long NVIDIA Daily Target ETF (BATS:NVDX): NVIDIA’s (NASDAQ:NVDA) continued dominance of the AI chip space pushed this leveraged ETF up.
Global X Silver Miners ETF (NYSE:SIL): Rising silver prices, driven by safe-haven demand in times of economic uncertainty, boosted silver miners and this ETF.
Investor anxiety is high as a result of pending trade tariffs under President Trump and sudden spending reductions spearheaded by the DOGE office under Elon Musk. Even softer-than-expected inflation readings—February’s CPI climbed 2.8% YoY, down from the 2.9% consensus—kept markets fixated on White House policy actions.
Trump vowed a 200% tariff on European wines if the EU drops its 50% tax on American whiskey and doubled tariffs on Canadian steel and aluminum, threatening auto tariffs.
Consumer confidence dropped and long-term inflation expectations reached their highest since 1993. In response to economic uncertainty, gold hit a record $3,000 per ounce and has increased in 10 of the last 11 weeks.
Markets bounced modestly at the end of the week on confirmation that a government shutdown would be averted and the lack of fresh trade news. The Federal Reserve is set to keep rates unchanged next week, although fears of stagflation—slowing growth coupled with ongoing inflation—are growing.
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