On Monday, Alcoa kicked off the third quarter earning season with a positive outlook and brought back investors' optimism. Stocks posted strong gain after two weeks in the losing column. The SP 500 index closed this week at 1071, up 4.5%, , the Dow Jones Industrial Average increased 4.0%, and the Nasdaq composite index gained 4.5% for the week. I still think that we are heading toward 1200 level for SP 500 index.
I have removed FNINX and FSPFX from Select ranking table since they have been closed since June. In the Select ranking table, FSAIX held the number 1 ranking for the second week due to stable oil price. However, energy related sectors, such as energy service, natural gas are coming up strong and worth our attention. On the international front, Latin America (ILF) and Brazil(EWB) are moving up fast in the iETF table.
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