The investment seeks to track the investment results of the MSCI EM Asia Custom Capped Index. The fund generally will invest at least 80% of its assets in the component securities of the underlying index and in investments that have economic characteristics that are substantially identical to the component securities of the underlying index. The underlying index is designed to measure equity market performance in the emerging market countries of Asia. It will include large- and mid-capitalization companies and may change over time.
IPO Year: n/a
Exchange: NASDAQ
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On Wednesday, July 24th, the U.S. stock markets closed lower, with the S&P 500 and Nasdaq hitting multi-week lows as disappointing Alphabet (NASDAQ:GOOG) and Tesla (NASDAQ:TSLA) earnings shook investor confidence in megacap stocks. This led to the S&P 500’s largest daily drop since December 2022 and the Nasdaq’s since October 2022. In economic data, the S&P Global composite PMI rose to 55.0 in July. The U.S. trade deficit in goods decreased to $96.84 billion in June, while new home sales fell 0.6% to an annualized rate of 617,000. The S&P 500’s sectors largely closed negative, with information technology, communication services, and consumer discretionary seeing the biggest losses,
On Tuesday, July 23rd, U.S. stock markets closed in the red, losing modest gains as investors shifted their focus to earnings from Alphabet (NASDAQ:GOOG) and Tesla (NASDAQ:TSLA). Both companies reported positive Q2 revenue, with Tesla’s increase driven by higher vehicle deliveries and Alphabet’s by increasing ad sales and cloud demand. According to economic data, the U.S. Fifth District’s composite manufacturing index fell to -17 in July, down from -10 in June. Additionally, existing home sales decreased by 5.4% to an annualized rate of 3.89 million units in June. Eight major S&P sectors closed in the red, with the energy index being the worst performer as U.S. crude prices reached a s
On Monday, July 22nd, U.S. stock markets closed in green as investors returned to megacap growth stocks. The S&P 500 and Nasdaq Composite rebounded from their worst weekly performance since April, while the Dow Jones Industrial Average ended a two-session decline. According to the economic data, the Chicago Fed National Activity Index fell to 0.05 in June from 0.23, while analysts expected -0.09. Most S&P 500 sectors closed higher, led by communication services, information technology, and industrial stocks, while energy and consumer staples fell. The Dow Jones Industrial Average was up 0.32% and closed at 40,415.44. The S&P 500 gained 1.08%, ending the day at 5,564.41, while the Na
On Friday, July 19th, U.S. stock markets closed lower, with the Dow Jones experiencing the most considerable decline. U.S. stocks fell due to a global tech outage caused by a glitch in Crowdstrike’s (NASDAQ:CRWD) software, affecting Microsoft’s Windows system and disrupting multiple industries. In economic data, Baker Hughes reported that the total number of active oil rigs in the U.S. decreased by one this week, bringing the count to 477 rigs. Of the 11 major sectors of the S&P 500, energy shares experienced the largest decline, while healthcare and utilities were the only sectors to post gains. The Dow Jones Industrial Average was down 0.93% and closed at 40,287.53. The S&P 500 de
On Thursday, July 18, U.S. stock markets closed lower, reversing early gains as investors moved away from high-priced megacap growth stocks amid second-quarter earnings season. All major indexes dropped, with the Dow breaking its streak of record highs. S&P 500 sectors closed mostly negative, with healthcare, consumer discretionary, and financials suffering the largest losses. Energy stocks, however, closed higher. According to economic data, U.S. initial jobless claims rose by 10,000 to 243,000 for the week ending July 13, exceeding estimates of 230,000. The Philadelphia Fed Manufacturing Index increased to 13.9 in July, up from 1.3 in June, marking a three-month high. The Dow Jone
On Wednesday, July 17th, U.S. stock markets closed mixed. The S&P 500 and Nasdaq fell sharply as microchip stocks plunged 6.8% due to potential U.S. trade restrictions on China, marking the Philadelphia SE Semiconductor index’s biggest drop since March 2020. Economic data showed that U.S. industrial production rose 0.6% in June, beating the 0.3% forecast. Housing starts increased 3% to 1.314 million, and building permits climbed 3.4% to 1.446 million annually. Among the 11 major sectors of the S&P 500, technology and communication services experienced the largest percentage declines, while consumer staples emerged as the leading gainer. The Dow Jones Industrial Average was up 0.59%
On Tuesday, July 16th, U.S. stock markets closed higher, with the Dow Jones Industrial Average hitting a record high after U.S. retail sales data suggested the Federal Reserve is nearing the end of its easing cycle, controlling inflation without causing a recession. In economic data, U.S. retail sales remained flat in June compared to a revised 0.3% increase in the previous month. Import prices were unchanged from the prior month, while export prices in the U.S. fell by 0.5% in June. Among the 11 major sectors in the S&P 500, industrials saw the highest percentage gains, while technology and communication services were the only two sectors to close in negative territory. The Dow Jon
On Monday, July 15th, U.S. stock markets closed higher, continuing Friday’s rally, as hopes for a second Trump presidency and a looser regulatory environment rose after a failed assassination attempt. Although all three major U.S. stock indexes closed significantly below their intraday peaks, the Dow Jones Industrial Average achieved a record closing high. According to the economic data, the NY Empire State Manufacturing Index fell to -6.6 in July, below the expected -6. Energy shares had the largest gain among the 11 S&P 500 sectors, while utilities lagged. The Dow Jones Industrial Average was up 0.53% and closed at 40,211.72. The S&P 500 gained 0.28%, ending the day at 5,631.22, a
On Friday, July 12th, U.S. stock markets closed higher, with the S&P 500 and Dow hitting record highs on expectations of a Fed rate cut. Major banks fell on mixed results, while Apple and Nvidia both saw gains. In economic news, June’s headline PPI for final demand rose by 0.2%, surpassing the expected 0.1% increase. The University of Michigan’s consumer sentiment fell for the fourth month, reaching 66 in July from 68.2 in June. All S&P 500 sectors closed higher Friday, with IT, consumer discretionary, and materials leading gains, while communication services closed lower. The Dow Jones Industrial Average was up 0.62% and closed at 40,000.90. The S&P 500 gained 0.55%, ending the day
On Thursday, July 11th, the U.S. stock markets closed mixed. The Nasdaq ended sharply lower, with Nvidia, Apple, and Tesla falling as investors shifted to smaller companies following softer inflation data, which increased expectations of a September Fed rate cut. According to economic data, the U.S. Consumer Price Index slowed more than anticipated in June. Year-over-year, headline CPI inflation decreased from 3.3% in May 2024 to 3% in June 2024, falling short of the 3.1% forecasted by economists. All sectors of the S&P 500 closed positively, with real estate, utilities, and materials leading gains, while IT and communication services stocks fell. The Dow Jones Industrial Average wa