Chart of the Day - Tuesday, April 18th, 2023

Today’s Chart of the Day was shared by Todd Sohn (@ToddSohn). Europe has continued to outperform the US since the October lows. France has been a particular bright spot within Europe, with the French CAC 40 Index breaking out to all-time highs last week. Todd points out that the iShares France ETF, $EWQ, is less than 3% from record highs, as it tests $40 for the third time in the past two decades. Todd also points out that $EWQ is an indirect way to gain exposure to China, as some of its biggest components are French luxury stocks like LVMH and Hermès, which have large revenue exposure to mainland China.