* US credit rating downgraded to AA+ from AAA by Fitch Ratings
* Global manufacturing downturn continues in July at faster pace
* Resilient US economy suggests US stocks can still run higher, strategist advises
* Job openings in US ease to 2-year low in June
* US construction spending rose sharply in June
* US ISM Manufacturing Index continues to indicate sector’s in recession:

The value risk factor is a winner within the small-cap equities space in recent years, based on a set of ETFs. Small-cap value stocks (IJS) are outperforming core small-cap shares (IJR) and small-cap growth (IJT) by wide margins over the trailing 3-year period through Tuesday’s close (Aug. 1):