SPGP News and Press, Invesco S&P 500 GARP ETF From 09/10/22

Summary The hawks won the front-loading argument and the ECB’s council unanimously decided to raise all key rates by 75bp. The growth forecasts, while lowered, do not project a recession next year and thus provide the leeway for more forceful action. Markets now see a 5...

Summary The main economic data release for the trading week is the US inflation report. The UK economy is in a precarious position and facing a recession. Chinese President Xi is expected to meet with Russian President Putin at the Shanghai Cooperation Organisation summit in U...

Summary Forecasters have no choice but to base their judgments on models, be they complex or informal, mathematical or intuitive. Small errors in assumptions regarding the economic environment and small changes in participants’ behavior can make differences that are highly ...

Summary SPGP underwent big changes recently. Financials now make up over 27% of the ETF, followed by Health Care at 18% and Technology at 15%. These changes reflect the substantial declines the market experienced in the first half of 2022. SPGP now trades at just 15x forward earni...

Summary Initial claims for regular state unemployment insurance fell by 6,000 for the week ending September 3rd, coming in at 222,000. The four-week average fell to 233,000, down 7,500 from the prior week. Initial claims remain at a very low level by historical comparison, but...

Summary Total nonfarm payroll employment increased by 315,000 in August 2022 to a seasonally adjusted level of 152,744,000. Starting with the Age 16-17 portion of the teen workforce, the number of working teens reversed a three-month downtrend, jumping from 179,000 to 2,255,000. ...

Summary Global economic output contracted in August for the first time since June 2020, according to the latest PMI survey data. For the first time since early 2020, all four largest developed economies reported falling output. Reduced input cost inflation and worsening demand...

Summary Jackson Hole reset expectations to focus more on inflation. The U.S. dollar should stabilize over the medium-term amid hawkishness from other central banks and slowing economic data. At stake is Europe’s ability to refill their storage tanks ahead of winter. ...

Summary Russia shut down its Nord Stream 1 natural gas pipeline last Wednesday for “maintenance” and will thereby provide Europe with a preview of how it must learn to cope without any new Russian natural gas coming in. Regardless of where Europe gets its natural gas...

Summary The Fed has made abundantly clear that it will tighten monetary policy until inflation is virtually vanquished. And yet, those who have no choice but to be nearly fully invested at all times have completely ignored this fact and were left trying to convince the investing p...