ADVISORY, April 24, 2013 (GLOBE NEWSWIRE) -- Corporate earnings were in focus this past week, but global growth concerns also remained a topic. Some encouraging sell-side commentary on the US housing recovery by Barclays, upgrading the industry to positive helped homebuilders. The PHLX Housing Index (HGX) finished the period higher by 3.3%. The NASDAQ US 300 Index (NQUSL300) rose 4.8% for the week as large caps outperformed on earnings results.
"Energy and Materials stocks outperformed this week as a rebound in the commodity sell-off from last week and a perceived increase in risk appetite for US stocks propelled shares higher," said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes.
| TOP WEEKLY INDEX MOVERS (+ / --) | |
| TOP 5 EQUITY INDEXES: | 4/16 – 4/23 |
| NASDAQ US 300 INDEX (NQUSL300) | +4.8% |
| NASDAQ BIOTECH INDEX (NBI) | +4.1% |
| PHILA HOUSING INDEX (HGX) | +3.3% |
| NASDAQ EM EUROPE INDEX (NQEMEU) | -2.3% |
| NASDAQ OMX US WATER INDEX (GRNWATUSL) | -1.5% |
| TOP 5 COMMODITY INDEXES: | 4/16 – 4/23 |
| NASDAQ COMMODITY SILVER INDEX ER (NQCISIER) | -3.4% |
| NASDAQ COMMODITY INDUSTRIAL METALS INDEX ER (NQCIIMER) | -3.3% |
| NASDAQ COMMODITY CORN INDEX ER (NQCICER) | -2.7% |
| NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER) | +2.2% |
| PHLX GOLD/SILVER SECTOR INDX (XAU) | -2.1% |
Other Notable Index Moves This Week
- US Equities might see green numbers over the next week, with Goldman Sachs upgrading equities to "overweight", while the firm remains "underweight" government bonds and cash over a three-month time horizon.
- As reported this morning, March US Durable Goods dropped 5.7%, their largest decline in seven months. The NASDAQ Developed Industrials Index (NQDM2000) might be in focus.
- The Markets will be looking for a positive GDP (survey: 1.3%) on Friday, giving the investment community more validation to the rising stock prices, and the improving wealth of Americans.