Why the Global X Robotics and Artificial Intelligence ETF Gained 16% in November
November was the best month for stocks in over a year, as the S&P 500 finished the month up 9%. However, artificial intelligence (AI) stocks were up even more last month, with the Global X Robotics & Artificial Intelligence ETF (NASDAQ: BOTZ) gaining 16%, according to data from S&P Global Market Intelligence.
AI stocks were buoyed by macroeconomic data that helped convince investors that the Fed was unlikely to raise interest rates and that it could even start to lower them in the first half of next year. Since AI stocks tend to be more growth-oriented, they're more sensitive to interest rates.
The chart below shows how the BOTZ ETF performed compared to the S&P 500 in November.
Source Fool.com
