While high beta stocks significantly outperformed in the United States, the same cannot be said for Asian markets, many of whom struggled on the back of Japan. Nippon underperformed as the result of poor trading in financials and power companies.
Last week global markets started off soft, but most recovered to near the flat line. U.S. markets rebounded on four consecutive gains putting the S&P 500 above 1400 or a 1.8% gain on the week.
Airlines are considering energy assets as a hedge against rising fuel costs, which highlights a profitable inverse relationship between airline securities and energy stocks.