Weekly Recap | VEU.US +2.09%, lagging the S&P 500

The Week

VEU.US rose 2.09% this week to close at $80.91, up from $79.25 the prior Friday. The S&P 500 gained 2.51% over the same period, leaving VEU.US trailing by roughly 0.42 percentage points. Price action was largely a choppy grind higher, with Monday touching $81.700 intraday before settling into a tight range through Thursday and Friday. Weekly amplitude was 1.82%, so this was not a high-volatility week.

Sector News

Most of this week’s news flow centred on HSBC and Royal Bank of Canada (RBC). HSBC repeatedly disclosed buybacks and cancellations across the UK and Hong Kong, releasing more than ten related announcements on repurchases and debt pricing. RBC announced an agreement to acquire Yarra Capital Management and issued $250 million in senior fixed-to-floating rate notes. On the macro side, chip names pushed the Nasdaq up more than 4% for the week, while VEU.US, as a non-US developed and emerging markets broad tracker, had less direct exposure to that US sector rotation.

The Week Ahead

US macro data arrives in force next week. Tuesday brings retail sales, retail sales ex autos, industrial production and the NAHB housing market index. Retail sales has a prior reading of 0.8% and a forecast of 0.2%, while retail ex autos shows 0.9% prior and 0.4% forecast. Monday’s New York Fed manufacturing index posts a prior 25.5 with a forecast of 18. These releases could shift expectations around global trade flows and non-US economic momentum.

In Short

VEU.US lagged the S&P 500 slightly this week but held within a normal range, trading between $80.38 and $81.847. The latest session’s fund flows showed net selling from large lots and net buying from small and medium lots, a split direction. Valuation sits around 34.9x P/E and 1.51x P/B, with a dividend yield of roughly 2.42%. What matters now is whether next week’s US retail and industrial data support the resilience narrative, and whether global money reallocates more visibly toward non-US markets.

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