Weekly Recap | FPX.US -1.65%, low-volume pullback lags S&P

The Week

FPX.US fell 1.65% this week to $180.50, underperforming the S&P 500’s 0.8% decline by roughly 0.85 percentage points. The fund touched a week-high $187.17 on Monday, September 8, before drifting lower over the following three sessions and closing at $180.50 on Friday. Weekly amplitude was about 3.79%. Average daily volume came to roughly 18,500 shares, about 50% below the recent median, indicating a quiet pullback rather than heavy selling.

Sector News

The week’s action centred on memory chips, optical communications, and healthcare. Memory names diverged sharply: Seagate (STX) dropped over 4% on Friday while SanDisk (SNDK) slid more than 3%. Optical communications held up better, with Coherent (COHR) up nearly 6% intraday and Lumentum (LITE) finishing higher. In healthcare, Eli Lilly completed its purchase of AtaiBeckley, while Morgan Stanley cut Novo Nordisk, citing market share losses and patent expiry risks. Overall, the fund’s underlying themes showed little common direction, and the index tracked broader market moves amid thinner volume.

The Week Ahead

US economic data dominates the coming week. The New York Fed manufacturing index lands on Tuesday, September 15, followed on Wednesday, September 16 by retail sales, retail sales ex-autos, import prices, the NAHB housing index, and EIA crude inventories. Retail sales carry a prior reading of -0.6% against a 0.9% forecast; a notable deviation could shift rate-path expectations. Traders will also watch whether the memory-chip sell-off extends and whether optical names hold their gains.

In Short

FPX.US posted a low-volume decline and lagged the S&P 500, with memory weakness offset by optical resilience. Valuation metrics are not available for this fund, and the latest session’s flow data shows small-lot money turning slightly net seller, though the scale is limited. The fund sits near its 60-day moving average, with the $180 level marking this week’s low. Whether it holds support will depend on next week’s retail data and whether tech themes regain a shared upward rhythm.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.