SPGP News and Press, Invesco S&P 500 GARP ETF From 09/27/22

Summary The US dollar is trading at multi-decade highs against multiple currencies. This is a major headwind for stocks. But the bigger risk is if the dollar should begin to weaken. The strong US dollar has been a big reason why stocks have suffered in 2022, and that str...

Summary Inflation-adjusted interest rates are rising, rapidly. The lightning surge in real yields has a wide range of implications for macro and markets - a change that is now front and center for monitoring risk factors. As real yields rise further, the allure of locking in h...

Summary The U.S. Census Bureau has released its annual estimate of the median income earned by the United States of 131,202,000 households in 2021. Adjusted for President Biden's inflation, however, real median household income fell by $402 year-over-year from 2020 in terms of con...

Summary A wise man told me once - "don't fight the Fed." Just as the market can rise, it can fall. While it may be difficult to fathom, rates are going even higher from here. The economy will feel more pain, and corporate profits should get impacted. The upcoming earnings ...

Summary New orders for durable goods fell 0.2 percent in August, following a 0.1 percent fall in July and a 2.3 percent jump in June. New orders for nondefense capital goods excluding aircraft, or core capital goods, a proxy for business equipment investment, jumped 1.3 percent in...

Summary Powell’s speech last Wednesday raised recession fears. The Atlanta Fed revised its third-quarter GDP estimate down to a +0.3% annual pace, down from its previous estimate of a +0.5% annual pace. U.S. interest rates also shot up in response to the Fed Chair’s ...

Summary The latest rate hike announcement by the Fed sent stocks tumbling to the year’s lows. While last week’s market action was brutal, the good news is the markets are set up for a rather significant short squeeze higher. We agree investors should be more cautious...

Summary The risk asset sell-off is pushing multiple technical indicators to extremes. These extremes suggest we are closer to a turning point. If the economy avoids recession, this bear market should be shorter and shallower than average. I am still looking for a fourth qu...

Summary A number of advisors have reported higher than normal inventories as an additional sign of pending recession. The data does not support this perception. Business Inventory/Sales…and Retail Sales vs. Trucking… reveal a considerable deficit exists in business I...

Summary A market collapse is nothing but risk-aversion meeting an inadequate risk-premium; rising yield pressure meeting an inadequate yield. Value is not measured by how far prices have declined, but by the relationship between prices and properly discounted cash flows. My ad...