SPGP News and Press, Invesco S&P 500 GARP ETF From 01/19/23

Summary S&P 500 EPS growth for Q4 is set to come in at -3.9%, the lowest rate in over 2 years, but an improvement from last week. Despite headwinds, an early reading of corporate uncertainty seems to indicate that companies are actually the least anxious they’ve been in 5 yea...

Summary The US stock market has stabilized recently and trades moderately above its recent low. The current S&P 500 drawdown remains relatively steep. Finally, market valuation continues to pull back from its recent peak but has rebounded a bit lately, based on Shiller’s ...

Summary At 429 basis points, the spread of the major junk bond index to Treasuries is dangerously close to the “inside 400” level, which is where it spends most of its time in a booming economy. I would not call the U.S. economy “booming,” as there has been a...

Summary The S&P 500 closed the week of January 13, 2023, above the 200-day moving average, for the first time since late November-early December ’22. The key benchmark is also testing the downward-sloping trendline that started in January ’22 with the all-time-high in ...

Summary Stocks have rallied to start the year due to financial conditions easing. The Fed, to this point, has been unable to convince the markets of its commitment to raise rates. Vice-Chair Lael Brainard speaks this week and could be personified to reset market expectations. ...

Summary Markets may be underestimating the stickiness of inflation and central banks’ determination to beat it - and what that means for growth and corporate earnings potential. We favor fixed income and credit over equities, and investment grade over high yield. Should infla...

Summary The CPI cooled again in December driven by a massive fall in Energy prices. A big driver behind the fall in Energy prices has been the Strategic Petroleum Reserve. Lower inflation is “good for gold” as the Fed can theoretically pull back on hikes. ...

Summary U.S. nearing its statutory debt limit of ~$31.281 trillion. Congressional gridlock on changing the debt limit appears likely. Fed QT roll-off of $60 billion in U.S. Treasury securities is continuing. Secretary of Treasury, Yellen, has warned the Speaker of the U.S. House...

Summary Why the second half of 2023 may be good for markets. Inflation may be cooling, but the labour market isn't. Why investors are having a mixed reaction to encouraging CPI numbers. U.S. consumer inflation data showed prices softening in December. Greg Bonnell ...

Summary Market divergence between bulls and bears in 2023. Are markets listening to what central banks are saying about interest rates? Why perception may be worse than reality when it comes to market sentiment. There appear to be widely differing views on what 202...