Something unusual is happening across global markets. Record streaks, rare rotations and historic moves are surfacing at the same time.From global equities to commodities to individual stocks, trends are emerging that we haven't seen in years — and in some cases, ever.Here are seven charts quietly reshaping market leadership — even if few are paying attention.1. Global Stocks Are On a Historic Run, But The US Is Not Joining The PartyThe All Country ex-U.S. ETF (NYSE:ACWX) – the benchmark tracking global equ ...

Group 1 - The U.S. Supreme Court's ruling against President Trump's tariffs may lead to the government needing to refund between $150 billion to $200 billion to companies that paid these tariffs, potentially benefiting sectors like automakers and consumer goods importers [1][6][9] - Trump's announcement of a new blanket tariff of 10% on U.S. trading partners could have a muted long-term impact on the market, despite the court ruling [2][8] - Treasury Secretary Scott Bessent indicated that the net result of the court decision and Trump's proposals may lead to virtually unchanged tariff revenue by 2026 [3][8] Group 2 - The ruling has caused a rally in global stock markets, with significant gains in ETFs related to major U.S. trading partners, such as a 1.61% increase in the iShares MSCI Mexico ETF and a 4.98% gain in the iShares MSCI South Korea ETF [5][8] - The uncertainty surrounding the government's obligation to refund raised funds could impact investor sentiment, particularly in the fixed income market, as it raises questions about future tariff revenue to service the U.S. government's $30 trillion debt [6][9] - The volatility in the bond market, including an initial rise in yields, reflects concerns over government financial management and the potential for a Treasury selloff if investor confidence wanes [7][9]

Group 1 - The article provides a market analysis focusing on major indices and ETFs, including the S&P 500 and various iShares MSCI ETFs [1] - It highlights the performance trends of the S&P 500, indicating its movements and potential implications for investors [1] - The analysis includes insights into emerging markets, particularly through the iShares MSCI Emerging Markets ETF, and its relevance in the current investment landscape [1] Group 2 - Specific attention is given to the iShares MSCI Brazil ETF, discussing its performance and the economic factors influencing it [1] - The iShares MSCI South Korea ETF is also analyzed, with emphasis on its market dynamics and investment opportunities [1] - Overall, the article aims to equip investors with a comprehensive understanding of these markets and their potential for growth [1]

Core Insights - Early 2026 is characterized as a stock-picker's market, with investors favoring countries experiencing peak inflation, improved policy clarity, or strengthening growth drivers Group 1: Market Performance - The MSCI World Index has increased by 2.4% year-to-date, following a nearly 19% rise in 2025 [1] - The iShares MSCI ACWI ex US ETF is up 5.2% year-to-date, while the SPDR S&P 500 ETF Trust has only gained 1.6% [1] - Emerging markets have shown significant strength, with the iShares MSCI Emerging Markets ETF rising over 6.5% year-to-date [1] Group 2: Country-Specific ETF Performance - iShares MSCI Norway ETF is at $31.20, close to its 52-week high of $32.76 [2] - Global X MSCI Norway ETF is at $32.42, near its 52-week high of $32.59 [2] - iShares MSCI Turkey ETF is at $39.54, just below its 52-week high of $39.95 [2] - iShares MSCI South Korea ETF is at $121.57, close to its 52-week high of $121.85 [2] - iShares MSCI Japan ETF is at $85.53, near its 52-week high of $85.99 [2] Group 3: Market Drivers - The Norwegian stock market benefits from stable monetary policies, with Norges Bank maintaining a policy rate of 4% [3] - Turkey's stock market shows positive momentum as inflation decelerates to 30.89% in December 2025, the lowest since November 2021, boosting market confidence [4] - South Korea's market rally is driven by a strong semiconductor sector, with the KOSPI surpassing 5,000 points due to increased AI chip sales and strong export figures [5] - Japanese stocks are rising due to political and macroeconomic factors, including a snap election and plans for bold fiscal policies [6] - The Bank of Japan has upgraded its growth forecast to 0.9% for the fiscal year ending March 2026, up from 0.7%, and increased its fiscal 2026 growth forecast to 1% [7]

Group 1: Market Performance - South Korean stocks have experienced significant growth, with the iShares MSCI South Korea ETF (EWY) up 19.3% year-to-date as of January 23, 2026, and having jumped 92% in the previous year [3][10] - The overall stock market performed well in 2025, but the EWY notably outperformed the broader market [2][10] Group 2: Drivers of Growth - The surge in South Korean stocks is attributed to the AI boom and the breakout performance of major memory chipmakers, SK Hynix and Samsung, due to increased demand and rising memory prices [5][6] - A weak Korean won has also favored exports, contributing to the positive market performance [6] Group 3: Valuation and Policies - As of January 23, the EWY trades at a price-to-earnings ratio of 17, significantly lower than the S&P 500's ratio of 28, indicating a potentially undervalued market [6] - Recent shareholder-friendly policies from President Lee Jae Myung, including improved corporate governance and reduced tax rates on dividends, are expected to enhance valuations further [6] Group 4: ETF Composition - The EWY is heavily weighted towards Samsung and SK Hynix, which together account for 45% of the fund, with Samsung at 26.8% and SK Hynix at 18.3% [8] - Other notable holdings include Hyundai Motor, Kia, Hanwha Aerospace, and Naver, indicating a diverse portfolio within the ETF [9] Group 5: Future Outlook - The EWY is positioned for continued success, particularly with strong trends in the memory chip sector, although it carries risks due to the volatility of that subsector [10][11] - The fund's low valuation and strong performance suggest it may be a smart investment choice for those looking to diversify internationally [10][11]

Core Viewpoint - The case for international diversification has strengthened in 2025 as several non-U.S. stock markets significantly outperformed the S&P 500, suggesting potential opportunities for U.S. investors seeking diversification and lower price-to-earnings multiples [2][4]. Group 1: International ETFs Performance - The iShares MSCI South Korea ETF has gained nearly 8% in early 2026, adding to its impressive 104% increase over the past year, driven by major companies like Samsung and SK Hynix [5][9]. - The South Korean ETF is heavily influenced by Samsung, which has risen 157%, and SK Hynix, which has surged 286%, together making up over 45% of the ETF [6][9]. - The ETF's price-to-earnings (P/E) ratio is relatively low at 19.1 times, indicating potential value despite its strong momentum [8][9]. Group 2: Other International ETFs - The iShares MSCI Japan ETF has also performed well, rising 31% and trading at a P/E of 18.9 times, suggesting it may be another option for investors looking for international exposure [9]. Group 3: Market Outlook - Goldman Sachs Research anticipates a potential 11% gain for global stocks in the upcoming year, indicating a positive outlook for international markets [4].

Group 1 - The iShares MSCI South Korea ETF (EWY) has been affected by selling pressure in the technology sector, which constitutes nearly half of the fund's allocation [1] - The top two positions in the EWY fund account for approximately 40% of its total allocation [1] - Despite the recent challenges, EWY remains the best performing ETF among 45 country-specific ETFs [1]

Group 1 - The Korea Composite Stock Price Index (Kospi) has increased by 70% year to date, significantly outperforming the S&P 500 by over 50 percentage points [3][4] - The iShares MSCI South Korea ETF (NYSEMKT: EWY), which tracks large- and mid-cap stocks in South Korea, has surged by 88% this year [3][4] - The rise in South Korea's stock market is partly attributed to advancements in AI, particularly benefiting tech stocks and chipmakers [4] Group 2 - Newly elected President Lee Jae Myung aims to eliminate the "Korea discount" by implementing new shareholder protections and lowering capital gains tax thresholds, which is attracting investor interest [5] - Foreign investors are now net buyers of Korean stocks, indicating increased confidence in the market [8]

Group 1: Market Performance - South Korea's stock market is experiencing significant growth, with the Korea Composite Stock Price Index (Kospi) up 48% year to date, outperforming major indices like the S&P 500, which is up about 15% [5] - The iShares MSCI South Korea ETF has climbed 64% year to date, indicating strong performance among large and mid-cap stocks in the Korean market [4] - The Kospi is currently around 3,550, with a target set by President Lee Jae Myung to push it past 5,000 during his term [3] Group 2: Investment Opportunities - There is increased interest from global investors in Korean companies, with overseas investors making $11.5 billion in stock purchases since May, significantly above historical averages [1] - Korean stocks are considered undervalued, with a trailing-12-month price-to-earnings ratio of about 16.5 compared to the S&P 500's ratio of around 28 [8] - The iShares MSCI South Korea ETF is highly diversified, holding 82 stocks with no single company outside the top two accounting for more than 5% of the fund [5] Group 3: Government Initiatives - President Lee has committed to ending the "Korea discount" by implementing new shareholder protections and lowering capital gains tax thresholds [2] - Improving corporate governance standards and stock market returns are top priorities for the government, which is expected to boost investor confidence [3] - A recent trade deal with the U.S. aims to lower tariffs on South Korean goods to 15%, which could positively impact the economy and stock market [6]