SPMO News and Press, Invesco S&P 500 Momentum From 05/06/24

2024-05-06 09:18:00 ET Summary In April, employers added 175,000 payroll jobs – excluding farm workers and the self-employed – a slower pace from the upwardly revised March estimate of 315,000 additions, which had been huge. The BLS bases its employment and unemploym...

2024-05-06 09:00:00 ET Summary The new reported job growth was considered a 'miss' in that it came in below expectations, and for the first time in months, the media did not declare the jobs report to be 'a blowout' or 'strong.' If we look more closely at this report, what we real...

2024-05-06 08:00:00 ET Summary The dollar is mostly a little softer today in thin market conditions, with Tokyo, Seoul, and London closed for holidays. Equities are off to a constructive start this week after the strong US rally before the weekend. Most markets in the region a...

2024-05-06 07:30:00 ET Summary Interest rates are unchanged over the last six months. The recent rise in rates that has had markets in an uproar the last few weeks appears to have run its course. While the 10 year Treasury yield is still in a short-term uptrend, the technical patt...

2024-05-06 03:06:00 ET Summary From August 2004 to June 2008, the TSX rose 84% as oil hit an all-time high near $150/barrel. During the same period, the S&P 500 rose a relatively anemic 24%. There are three main reasons for the under-performance of the Canadian equity markets....

2024-05-05 21:47:31 ET Summary The market should continue to rise this week, particularly in the tech sector, based on technical analysis and recent market events. Fed President Powell's dovish FOMC statement and the softer April jobs report will contribute to market optimism this...

2024-05-05 19:00:00 ET Summary Fidelity Momentum Factor ETF (FDMO) implements a sector-neutral strategy based on price performance, earnings surprise and short interest. It is overweight in technology and large companies. FDMO track record is disappointing compared to another ...

2024-05-05 16:00:00 ET Summary Weaker data has been balanced out by higher odds of rate cuts. Price action has been "messy." In the near-term, there is a bias for higher to squeeze out shorts above the 50dma. Once this squeeze is complete, a reversal lower again could develop....

2024-05-05 07:00:00 ET Summary Powell's recent press conference did not indicate a dovish stance on rate cuts in 2024. The stock market rally during Powell's press conference was due to the 2:35 PM ET VIX melt that occurs at nearly every meeting. The immediate price action fol...

2024-05-05 00:01:00 ET Summary Shorting T-Bills pushes rates higher and out of sync with the current level of pessimism. T-Bills have inverted, leaving 10yr Treasury rates -1.82% below T-Bill rates June 2023. Investors should remain focused on well-managed companies now report...