How Did January Fair Across Assets Classes?
How did stocks, bonds, commodities and currencies fair in January? The answer is much better than last January.
For stocks, the S&P 500 was up 1.79%. The leading equity index was the NASDAQ 100 up 5.20%. The laggard was the Russell 2000 up only 0.34%.
In terms of equity sectors, the leader was software via IGV up 7.64%. Other strong performers were biotech via IBB up 4.78%, materials via XLB up 4.55% and consumer discretionary up 4.21%. The laggards were energy via XLE down -3.25%, regional banks via KRE down -0.31% and pharmaceuticals via PPH down -0.36%.
Overseas the leading equity market was Brazil via EWZ up 10.65%. The laggard was Russia up 0.75%.
The only currency lower for the year is the U.S. Dollar down -2.76%.
All bond proxies were higher. The leader was high yield up 0.91%.
Last, in commodities the leader was silver via SLV up 10.06% and the laggard was natural gas via UNG down -15.85%.
Not a bad month to start the year. Going forward, we will update this particular report on the first day of the month. Next update March 1st.