COMMENTARY:
- The S&P500 Index was up almost a percent this week. The US economy added 227,000 jobs in November, but the unemployment rate still rose to 4.2%. Bitcoin hit the $100,000 mark, and the ETF market reported a record cash inflow for the year of ~$ 1 trillion.
- The Energy sector was hit the hardest for the period, down 4.7%. Two constituents contributed to the overall decline. Texas Pacific Land fell 16.4% and Halliburton declined 9.7%.
- The best-performing sector this week was Consumer Discretionary, up 4.7%. As the holiday season is in full swing, retailers such as Lululemon Athletica (+24.6%) and Ulta Beauty ( +10.7%) were outliers on the upside. Tesla continues its run up 12.8% for the period.
- Only three of the eight sectors were in positive territory this week. Besides Consumer Discretionary, Technology (+3.0%) and Communication Services (+2.6%) were gainers. All 9 other sectors underperformed, yet the markets overall set more record highs this week.
ETF Tidbits:
MFS launched 5 new active ETFs: MFS Active Value ETF (MFSV), MFS Active International ETF (MFSI), MFS Active Growth ETF (MFSG), MFS Active Core Plus Bond ETF (MFSB), MFS Active Intermediate Muni Bond ETF (MFSM)
Allspring Debuts 3 new Active Fixed Income ETFs: Allspring Income Plus ETF (AINP), Allspring Core Plus ETF (APLU), Allspring Broad Market Core Bond ETF (AFIX)
