RPG News and Press, Invesco S&P 500 Pure Growth From 02/14/23

Summary AIER’s Everyday Price rose 0.93 percent in January, following a decline of 1.3 percent in December 2022. On Friday, February 10, the US Bureau of Labor Statistics updated the weights of the consumer price index constituents to reflect changes in consumption activity. ...

Summary Inflation was hot in January. This is putting the Fed on a path to raise rates well above 5% in 2023. The equity market appears to have wrong on disinflation. To no surprise, CPI proved to be hot in January on a month-over-month basis, rising by 0.5%, in line with expe...

Summary While the rest of America was gearing up for the Super Bowl Sunday, the Bureau of Labor Statistics revised Q4 inflation numbers higher on Friday. This is actually huge news. Preprogrammed algos bought billions in stock off of November and December CPI off of faulty assumptio...

Summary Has recent strong data changed the fundamental economic and market outlook, or just the timeline? A stronger January than December should not come as a surprise, given the diminished China- and energy-related headwinds the global economy now faces. We also know that monetary...

Summary One hypothesis we're currently evaluating behind the scenes is that the multiplier may have shifted to zero at the beginning of the year. Unlike changes in dividend expectations that are easy to identify, the factors that cause the dividend futures-based model's basic multiplier...

Summary Economic news has caused market participants to be looking the wrong way over these last 5 months. While news reports can act as a catalyst for market moves, the substance of the news is often unimportant in determining a directional bias. As long as highlighted support hold...

Summary The 5-year Treasury yield jumped 27 bps last week, from 3.66% the prior week to close, to 3.93% at this Friday’s close. This is after falling 30 bps in the first week of January ’23. The “estimated” S&P 500 earnings growth for 2023 (as a whole) ha...

Summary A week of rest and consolidation has set up volatility next week as key data will be released. "Higher for longer" rate expectations are gaining traction but would be discouraged by a disinflationary CPI report. Key technical levels to watch in the S&P 500 in the week ah...

Summary CPI is expected to see a big jump in January month-over-month. Recent revisions showed that inflation was running hotter than was previously thought. Inflation swaps, bonds, options suggest that CPI could come in hotter than expected. The upcoming February 14 Consu...

Summary 2022 was a year where, suddenly, the value style of investing dramatically outperformed the growth style. Sector exposure is a detail useful to help in characterizing different index exposures. The S&P 500 Growth Index added Energy sector exposure due to strong price mom...