Image Source: PixabayUS stocks took a bit of a breather earlier this week as traders evaluated opportunities after an approximate first half gain of 15% in the S&P 500. New inflation numbers were also containing activity. For domestic stock funds, I have one new “Buy” this week: The SPDR Portfolio S&P 500 Growth ETF (SPYG), explains Brian Kelly, editor of Money Letter.The May (core) personal consumption expenditures index – the Fed’s preferred inflation measure – were released on Friday.  

SPDR Portfolio S&P 500 Growth ETF (SPYG)
Meanwhile, global markets were mixed for the most recent reporting period. The Euro Stoxx 50 gained 0.6%; the Nikkei 225 added 2.8%; the Shanghai Composite declined by 1.5%.Tech stocks have been showing signs of being overbought, and economic growth appears to be slowing somewhat as we move into summer. With the benchmark up 15% year-to-date and the tech-heavy Nasdaq recently up more than 18%, it is sensible to prepare for some volatility ahead.As for SPYG, the ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P 500 Growth Index. That index tracks the performance of the large capitalization segment of the market. My recommendation would be to consider buying SPYG.

About the Author
Brian Kelly has enjoyed a long career in newsletter publishing and has maintained involvement with MoneyLetter continuously since 1984. He has been a member of the MoneyLetter Investment Committee for over 30 years.As vice president and product manager for IBC/Donoghue Inc., and IBC USA (Publications) Inc., Mr. Kelly was responsible for all aspects of the MoneyLetter group of products including planning, marketing, fulfillment, customer service, and public relations.More By This Author:No, You Shouldn’t be Too Worried About Market Concentration. Here’s WhyCLF: A Misunderstood Steel Stock That Offers Strong Profit PotentialRetail Sales, GDP, Production Show An Economy On The Right Track