Looking Back, Looking Forward – Sunday, Feb. 7

3. Materials

Shares of copper producer Freeport-McMoRan (FCX) rose 18% after the copper producer reinstated its dividend after a 12-month gap. Freeport plans to pay $0.30 a year in dividends, up from $0.20 it paid before suspending them.

Top ETFs for the week

The following ETFs were among the biggest winners last week:

  • ETFMG Alternative Harvest ETF (MJ) 23%
  • The 3D Printing ETF (PRNT) 15%
  • Amplify Transformational Data Sharing ETF (BLOK) 15%
  • Global X Uranium ETF (URA) 12%
  • Invesco Dynamic Software ETF (PSJ) 12%

Looking ahead to the week of February 8

Stimulus, earnings, inflation data, and President Trump’s impeachment trial will be in focus this week. Small-cap stocks have been overbought for some time. Unforeseen delays in stimulus or reversal in COVID-19 trends can potentially be a catalyst that can trigger a pullback.

  • Investors will keenly follow the progress of the $1.9 trillion stimulus package Democrats are fast-tracking to Congress.
  • The fourth-quarter earnings reporting season continues. Nearly 80 S&P 500 companies report this week. Cisco Systems (CSCO) from the technology sector, consumer staples heavyweights Coca-Cola (KO) & Pepsi (PEP), and Disney (DIS) from the communication services sector are among those reporting.
  • In economic data, the Labor Department reports on consumer price index inflation. Investors will also be attentive to Federal Reserve chairman Powell’s comments to the Economics Club of New York.
  • Wall Street will keep an eye on President Trump’s Senate impeachment trial starting on February 9.
1 2 3
View single page >> |

Disclosure: Get two special reports Five Smart Ways of Using Fidelity Select Funds and Avoid Three Common Mistakes ETF Investors Make when you more

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.