RZG News and Press, Invesco S&P Smallcap 600 Pure Growth From 11/07/22

Summary The trend for the dollar and the 10-year Treasury yield is still up but, as I said last week, both appear to be hitting a short-term peak. US stocks were down last week but non-US stocks had a great week. The selloff in the dollar Friday goosed non-dollar returns by nearly...

Summary BlackRock’s top investment leaders came together at the Outlook Forum. The upshot: the new regime is not about to change, and we need a new playbook. Stocks slid and yields rose as the Federal Reserve delivered another mega rate rise and signaled it would need to ta...

Summary If the unemployment level in the economy increases, this removes potential demand from the economy; hence, a slowdown or recession may unfold. The unemployment rate is flattening and possibly beginning an uptrend, with both the rate and average now equaling 3.7%. The p...

Summary The early line from the prediction betting polls expect the Republicans to gain seats and control both houses of Congress. That could put a check mark on the side of the market bears and put a crimp on markets, as the gridlock in DC means no more stimulus until 2025. The t...

Summary Expectations coming into Thursday’s CPI and Core CPI print are leaning “heavy” so to speak, meaning the street is expecting another hot number. Inflation matters to bond yields and bond yields matter to stock P/E levels and valuations. It’s all ...

Summary The US October CPI is the most critical data point in the week ahead. The November CPI will be reported the day before the FOMC meets again on December 14. The other report, the US monthly federal deficit, gets little attention from the market. There are th...

Summary I believe following news or economic reports to glean market direction will fail quite often. SPX support is in the 3580/90 region, which, if held, can sustain a rally to 4100+. I think it is prudent to raise cash on rallies into 2023 until the market provides us with ...

Summary Rising interest rates have dominated this year’s macroeconomic and market agenda. Rising rates push up the discount rate used to value stocks, which tends to push valuations down. There are some indications that market valuations are unlikely to fall much furthe...

Summary The 2020 to 2021 period will likely go down in history as an extraordinary time in which financial markets remained resilient in the face of lockdowns, quarantines and economic shutdowns. However, as is often the case, the law of gravity eventually prevailed, removing much...

Summary Economists like to talk about forecasting recessions. To be blunt, I think this is an absolute waste of time. While nearly everyone seems to be aware that the yield curve is inverted, it seems that few people understand the significance of this event. Acting on this si...