The article discusses the recent performance of various stocks and ETFs, particularly in relation to the upcoming midterm elections in the U.S. It notes that the KraneShares CSI China Internet ETF (KWEB) has seen a significant decline of 38% from its October high, while the iShares China Large-Cap ETF (FXI) is down 17% from its peak.
In contrast, U.S. broadcast companies like Sinclair, Nexstar, and Gray Media have experienced gains, with Gray Media up nearly 30% in the past month, likely benefiting from increased political advertising.
The article also mentions the upcoming retail sales data, with expectations of a modest increase of 0.1% for July, and highlights the struggles of several retail stocks, including Bed Bath and Beyond, which is down 65% from its October high.
Additionally, Disney's stock has dropped 12.5% from its September high, with CEO Josh D'Amaro set to speak at the D23 expo, which could impact investor perceptions. Overall, the article emphasizes the mixed performance of stocks in the context of broader economic trends and political events