PAMC News and Press, Pacer Lunt MidCap Multi-Factor Alternator From 09/05/23

2023-09-05 01:20:00 ET Summary The revision to Q2 GDP last week showed that real GDP rose by 2.1% annualized while the GDP deflator (a measure of inflation) rose 2% annualized. Personal consumption rose in July by 0.8%, outstripping the gain in personal income (+0.2%) and well in ...

2023-09-04 04:57:00 ET Summary The Services PMI still matters given it’s over 50.0, and unit labor cost data will get a look, as will jobless claims, but the CPI data the following week of September 11th, ’23 is the next important inflation/economic metric. DocuSign,...

2023-09-02 02:45:00 ET Summary The S&P 500 posted losses in each of the past three Septembers: minus 9.3 percent in 2022, minus 4.8 percent in 2021 and minus 3.9 percent in 2020. We think there are some good reasons to not fret too much about what the “average” S...

2023-09-02 01:55:00 ET Summary Elevated stock market valuations, coupled with higher bond yields, have driven the equity risk premium to near 20-year lows. The lofty valuations, while not contagious to the entire equity market, don’t seemingly reflect heightened recession r...

2023-09-02 00:10:00 ET Summary The Federal Reserve has a “dual mandate” designed to “foster economic conditions that achieve both stable prices and maximum sustainable employment.”. The “dual mandate” is obviously a moving target, but it a...

2023-08-28 22:20:00 ET Summary The latest market shenanigans come from “zero-day options,” causing sharp sell-offs or short covering rallies. I am ecstatic with the results delivered by both Nvidia and Super Micro Computer, since they are both characterized by explos...

2023-08-28 20:25:00 ET Summary Many investors are wondering if the correction in the U.S. stock market is over. Simply put, we don’t know. From a historical perspective, September is the worst month of the year, even though in pre-election years it tends to be less bad. ...

2023-08-28 02:51:00 ET Summary The forward 4-quarter estimate for the S&P 500 jumped to $232.80 this week from last week’s $231.72. The S&P 500 earnings yield ended the week at 5.28%, versus the 5.30% last week. Since June 30 ’23, the Q2 ’23 bottom...

2023-08-24 06:20:00 ET Summary How many equity risk premiums are out there? The variety is at once a challenge and a tool. It’s a challenge because depending on your modeling preference, forecasting how the stock market will fare relative to some proxy of the "risk-free" ra...

2023-08-23 21:05:00 ET Summary A rising Yield Curve is what we are seeing today. The turn higher began after hitting what appears to be the low point,-1.89%, on May 4, 2023. Consensus opinion is that investing is all about calling the bottom in the S&P 500 or some other asset ...