MarketWatch: “S&P 500, Dow score biggest monthly gains since November 2020, Nasdaq books best July ever”By admin_45 in IN THE NEWS
Excerpt from MarketWatch quoting DataTrek's Jessica Rabe:
.... "The iShares Global Clean Energy ETF, Invesco Solar ETF and First Trust NASDAQ Clean Edge Green Energy Index Fund — the three largest U.S.-listed ETFs in clean energy — illustrate the recent outperformance, according to DataTrek Research co-founder Jessica Rabe.
“All three clean-energy ETFs have handily outperformed the S&P over the last 3 months,” Rabe wrote in an emailed note dated July 26. “Most of the top 3 names in these large clean energy ETFs have seen upside earnings revisions for this year and next over the last 90 days.”
The rising confidence of analysts about the earning potential of renewable energy companies in 2022 and next year helps explain the ETFs’ outperformance compared to the broader U.S. stock market, according to the note. Expectations for accelerating earnings growth are generally important for growth stocks, particularly in “a tough market,” she said"....
Full article here on MarketWatch.