First Trust Mid Cap US Equity Select ETF News

The past week saw a total of 14 launches of exchange traded funds. Among them were ETFs from names including Pacer, Global X, Neuberger Berman, Bancreek and The Opportunistic Trader.

After Friday’s big payroll number, stocks sank as the buzz was that the Federal Reserve will raise interest rates by 75 basis points at its September meeting. And they well might.

The July Jobs Report seemed strong with 528k new non-farm payrolls, but labor participation rate not budging. Click here to see my thoughts on the July jobs report.

The M2 money supply in June was lower than its May level, and M2 has only increased at a very slow 1.7% annualized rate in the past six months.

FOMC meeting is scheduled for this week. Stock market is playing this Fed meeting as if it is a non-event. Check out why I think it will be in for a big shock.

The US economy has clearly slowed from its rapid 2021 growth and there are plenty of reasons to fear a recession some time in the next year or two.

Bulls continued to come back this week, rising to 29.6%. The bull-bear spread has risen to -12.6, the highest since June first week and the 16th week on the run of bears higher than bulls.

Don't invest in stocks with a timeframe of only 6 months, or even a year. Check here to know where are we today on a forward 5-year basis.

Initial jobless claims remain historically healthy in the low 200K range, but the most recent week’s data did mark one of the highest readings of the year.

Secular bear markets begin from a point of mass exuberance and over-valuation and end when they have crushed both into remission.

Monetary inflation’s pivotal role in boosting/distorting asset prices is why we pay so much attention to it and so little attention to the more popular ‘fundamentals’.

A shortened trading week on Wall Street will have traders focusing on the FOMC minutes, a few Fed speakers, and the June nonfarm payroll report.

Respondents reporting as bullish has risen to 22.8%. Those reporting as pessimists fell by 12.6 percentage points, bringing the reading back below 50%. The bull-bear spread favors the bears.

We expect elevated inflation to continue into 2023 due to the lagged impact of food supply disruption and elevated energy costs.

Market soared because inflation seems to be easing. That's not likely, Powell's bully pulpit pressured commodities. I expect stock prices to be pressured and move back to lower levels.