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Wall Street posted mixed results last week, with the S&P 500 rising 1.2%, the Dow Jones Industrial Average gaining 0.9%, and the Nasdaq Composite increasing 0.6%, while the Russell 2000 fell 0.9%.
Within this broad market movement, five ETF sectors outperformed their benchmarks, driven by distinct geopolitical and corporate catalysts. Brazilian equity funds led the gains following a surprise electoral development.
Right-wing Senator Flavio Bolsonaro captured 47% of the vote in the first round of the presidential election, edging out incumbent Luiz Inácio Lula da Silva, who received approximately 45%.
This outcome defied polls that had projected Lula to lead. The market reacted positively to the right-wing candidate's plurality, anticipating a favorable environment for business.
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