TECH - Best Leveraged ETFs of Last Week | Benzinga
Wall Street was upbeat last week with the S&P 500 adding 0.6%, the Dow Jones gaining 1.1% and the Nasdaq advancing 1.4%. The benchmark U.S. treasury yield started the week at 4.63%, hit a high of 4.69% and ended the week at 4.50%.
The Fed's plan to slower the balance sheet tightening process and the release of downbeat jobs data (which triggered bets over sooner-than-expected rate cuts) dragged down bond yields last week. The U.S. economy added 175,000 jobs in April, well below Wall Street expectations of 240,000. Health care and social assistance led the way with a gain of 87,000 jobs.
Meanwhile, corporate earnings have been bullish with Apple and Amazon coming up with both line beats. The corporate commentaries released throughout the week indicated the importance of AI growth and investments.
Meanwhile, crude oil ETF United States Oil Fund LP (ARCA:USO) dropped about 6.2% last week on weak demand growth and less supply worries emanated from the Gaza-Israel peace talk. Higher U.S. crude output too played its role in driving down the price of oil.
Against this backdrop, below ...