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Critics have long pointed to an equity market breadth issue, with a narrow basket of tech giants driving most index returns. While participation improved through the second quarter, the broadening didn't last long – surging energy prices and tightening financial conditions are reversing the course.
Brent crude nears $100 as escalating U.S.-Iran tensions raise supply risks, putting oil and energy ETFs in focus while pressuring retail, airline and India-focused funds.
The interest rate whipsaw intensified as August nonfarm payrolls grew by 162,000, well above the consensus estimate of 53,000. The S&P 500 flipped from green to red on the news, and the 2-year Treasury yield rose to 4.416%, its highest reading since January 2025.
August ETF flows highlighted strong investor demand for S&P 500, Nasdaq-100, short-term Treasury, gold and bitcoin ETFs, while some major funds saw outflows.
U.S.-Iran tensions are lifting oil prices and could reshape the outlook for energy, defense, gold and rate-sensitive ETFs.
Investors have rotated into small-cap stocks looking to find more value. The Russell 2000 is much less reliant on tech performance than the S&P 500.
It's easy to make money during a bull market when stock prices seem to only go up. But bear markets are when savvy, gutsy investors can lock in the biggest long-term gains.
I initiate coverage of the Bushido Capital US SMID Cap Equity ETF with a Hold rating. With 80 equities in the basket, IT-heavy RNIN sports a strong factor mix with a GARP tilt and decent quality, which welcomes a constructive stance. Since its inception, RNIN has been doing excellently, beating the market proxied with IVV, as well as IJR, IJH, IWM, and a few other prominent names.