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Market Moves: Week Ending 19 April 2024

Short equity funds (BBOZ, BBUS, BEAR, SNAS) thrived last week after US Fed Chair Jerome Powell stated his dissatisfaction with the country’s progress with curbing inflation, lowering the odds of near-term rate cuts.¹
Semiconductor and tech ETFs (FANG, LNAS, SEMI) were the poorest performers after Nvidia fell 10% last Friday.² SMCI, a server rack builder for Nvidia datacentre solutions, refused to post preliminary revenue, casting doubt on AI chip demand.³
There were $321 million in reported inflows for the week and $118.6 million in outflows, marking a week of net inflows for the Australian ETF industry.

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Looking for more ETF Express content? Check out this week’s Thematic Spotlight and Commodity Calls.

^{Forecasts are not guaranteed and undue reliance should not be placed on them. This information is based on views held by Global X as at 22/04/2024.}

^{Past performance is not a reliable indicator of future performance.}

^{Diversification does not ensure a profit nor guarantee against a loss. Brokerage commissions will reduce returns. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.}

Authored by: Justin Lin

Date:
Apr 23, 2024

Category:
Reports

Topics:
ETF Express, Market Moves

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