VTWV News and Press, Vanguard Russell 2000 Value Index Fund From 09/27/22

Summary The headline number of 108 was an increase of 4.4 from the final reading of 103.6 for August. Statisticians may assign little significance to a regression. Consumer confidence and small business sentiment have tracked one another fairly closely since the onset of the F...

Summary Prices were way too high in 2021 due to a flood of stimulus, free money, and the post-corona YOLO mentality. Stocks are now approaching my fair value estimate of around 3300 on the S&P 500 but may fall below it due to forced selling. With the Fed rapidly hiking rat...

Summary US businesses reported a third consecutive monthly fall in output during September, rounding off the weakest quarter for the economy since the global financial crisis if the pandemic lockdowns of early-2020 are excluded. While new orders returned to growth, with gains repo...

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...