Loading news...
ACWX tops SPY early in 2026. Norway, Turkey, South Korea and Japan ETFs hover near 52-week highs on higher oil price, easing inflation and chip rally.
NORW hasn't fared too well since our HOLD rating in February 2022, but we are prepared to turn bullish now. Real GDP growth is set to improve even further this year, while fiscal and monetary policy is expected to be more supportive. NORW's valuations look the most compelling across all the Nordic economies, more so in light of the long-term earnings potential.
Wall Street has been hovering around a record high.
Oil prices jumped more than 4% on Monday morning as news of a surprise attack on Israel by the Palestinian Islamist group Hamas sent shockwaves through global markets.
Oil prices have surged lately due to prolonged output cut possibilities by Saudi Arabia and Russia.
The global oil market witnessed a substantial rally recently, with prices reaching their highest levels since mid-April.
In light of Fitch Ratings' downgrade of U.S. credit, investors might be interested in identifying companies and countries that still hold the desirable 'AAA' credit rating.
The Global X MSCI Norway ETF has gained some reprieve this month on the back of resilient economic data. But the monetary tightening cycle is far from over and will weigh on equity valuations near-term. With more negative EPS revisions on the horizon, the current ~11x P/E for NORW isn't appealing.
Oil prices increased considerably lately due to surprise OPEC+ output cut. These country ETFs may gain/lose ahead on the move.
The Global X MSCI Norway ETF continues to be weighed down by the global energy and commodities weakness. Domestically, further rate hikes by the hawkish Norges Bank look set to trigger a broader economic slowdown.
The Federal Reserve is suffering massive operating losses. When politicians wake up, Fed losses will draw their fire.
NORW is a top-heavy passively managed exchange-traded fund tracking the MSCI Norway IMI 25/50 Index. In the current iteration, NORW is long 68 stocks, with the top ten accounting for more than 63%. Energy (~32%) and financials (18.7%) are the top two sectors.
Getting safe haven exposure is almost automatic when looking at bonds and gold, but there's another option investors may want to consider for added diversification: Norway. The country's equities have not only provided a growth component with respect to its economy, but they've been strong performers relative to other equity indexes.
Global X MSCI Norway ETF- Key Discussion Points
2021 saw a strong year for the energy sector amid recovering global economies, and Norway couldn't be happier as it saw record numbers last year. Demand for oil and gas soared to greater heights, feeding into strength for Norway.
Europe is highly energy-dependent on Russia. The latest Russia-Ukraine tensions may open up opportunities for another energy-rich European country Norway.
NORW: Oil, Interest Rates, And Other Issues To Remember
Oil analysts forecast a sustain rally as OPEC opposed calls to boost supply.
The Norges Bank on Sep 23 become the first developed central bank to raise interest rates following the emergence of the coronavirus pandemic.
As investors look overseas for opportunities, Norway is a strong country to consider. One way to snag targeted country-level exposure is the Global X MSCI Norway ETF (NORW), which is up 8% for the year.