SPMO News and Press, Invesco S&P 500 Momentum From 03/27/24

2024-03-27 11:58:00 ET Summary Growth of the US economy continues to slow, but recession is elusive, though the risk of recession is rising. The outlook for the Fed seems to range from as many as seven rate cuts to as few as three. Growth of the US economy continues to slow, b...

2024-03-27 07:25:00 ET Summary The dollar neared JPY152, setting a new 34-year high and this appeared to spur a senior official meeting in Tokyo, ostensibly to talk about the response. Most of the G10 currencies are softer against the dollar but the yen. Most emerging market c...

2024-03-27 01:05:00 ET Summary The BOJ’s decision to end negative interest rates is turning out to be a “best possible scenario,” in my view, representing a vote of confidence in the Japanese economy but with extremely gentle normalization in the offing. SNB b...

2024-03-26 20:00:00 ET Summary Today, the Fed released the February money supply data, and there were no unwelcome surprises. M2 continues to shrink relative to the economy, and that's the reason inflation is likely to continue to fall. Currency in circulation, which represent...

2024-03-26 14:15:00 ET Summary We think it's more likely than not that the U.S. avoids a recession in 2024, but economic uncertainty remains high with the economy running at full capacity, household savings diminishing, the labor market slowing down, and the U.S. Treasury yield curve ...

2024-03-26 11:05:00 ET Summary Durable goods orders are a good lead indicator for broader capex spending in the US. Unfortunately, ongoing weakness here suggests investment spending will remain a constraint on overall growth, with the US’ 2024 economic prospects being deter...

2024-03-26 09:15:00 ET Summary The roaring US stock market has delivered red-hot gains in recent history but at the expense of future returns. The pushback is that artificial intelligence and related technology innovations have changed the calculus. From a calculated risk pers...

2024-03-26 09:10:00 ET Summary Technical measures and valuations all suggest the market is expensive, overbought, and exuberant. However, none of it seems to matter as investors pile into equities to chase risk assets higher. A recent BofA report shows that the increase in ris...

2024-03-26 05:55:00 ET Summary The Magnificent Seven make up almost 30% of the S&P 500 market capitalization and accounted for almost 60% of the index’s return in 2023. Much of the rally in equities can be attributed to the performance of a handful of mega-cap stocks th...

2024-03-26 01:35:00 ET Summary A number of readings on CEO sentiment, including our own Late Earnings Report Index (LERI), seem to be indicating that executives are feeling more certain about corporate growth prospects. The LERI ended the Q4 2023 earnings season (data collected in...