Skip to Content
Market Update

The Week in Stocks and Funds

Which stocks and funds are hot, and which are not.

Mentioned: , , , , , , , , ,

It was a seesaw week for the market. Stocks powered higher during the middle of the week, on relatively bullish comments from Intel (INTC) and a major analyst's upgrade of semiconductor stocks, but they gave some of their gains on Friday. For the week, the Dow Jones Industrial Average and S&P 500 index narrowly finished in the black. The Dow increased 0.9% to 10,512, while the S&P 500 rose 0.7% to 1,214. Thanks to the strength of chip stocks, the Nasdaq Composite index managed to gain 1.8%, to 2,066.

Fund Category Returns
Specialty-technology funds posted the biggest gains for the week through Thursday, rising an average of 5.2%. Profunds Ultra Semiconductor (SMPIX), a leveraged play on chipmakers, rose a whopping 15.6% during the week. Even Monterey Murphy New World Technology (MNWTX) managed to get in on the act, rising 10.7%. We're not quite ready to issue a buy recommendation on that fund, though: Over the past five years, it has lost 14.1% on an annualized basis, trailing its average rival by nearly 30 percentage points per year. The chip-heavy Berkshire Focus Fund  (BFOCX), which soared more than 100% in both 1998 and 1999, also posted a huge gain last week, returning 10.1%.

Scott Cooley does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.