S&P 500 profit margin in Q4 2021: 13.4% S&P 500 profit margin in Q4 2022: 10.9%
Source: Charlie Bilello
S&P 500 Q4 GAAP earnings are down 29% year-over-year
With 84% of companies reported, S&P 500 Q4 GAAP earnings are down 29% year-over-year, the 3rd straight quarter of negative YoY growth and the largest decline since Q2 2020. Source: Charlie Bilello
Nearly half the options on S&P 500 stocks as well as on SPY and QQQ have maturities of less than 24 hours.
Source: The Daily Shot, Nomura
US equities: Bulls finally outnumbered Bears
Bulls finally outnumbered Bears in this week's AAII Sentiment Poll, ending a record streak of 44 consecutive weeks of bearish sentiment. We haven't seen more Bulls than Bears in this poll since March 2022. Source: Charlie Bilello
US equities: market internals still look bullish
We continue to see new highs > new lows (27 days in a row is longest stretch since mid-2021) and that is bull market behavior. Source: Willie Delwiche
A Warren Buffet styled "Investment checklist"
Source: Brian Feroldi
MSCI China relative multiples are the highest since 2011
Either earnings improve for Chinese companies or the MSCI China Index now looks pretty expensive vs rest of world. Source: Citigroup, Sofia Horta e Costa
The rise of Tesla
Sales, 10 Yrs Ago: GM: $152 billion; Ford: $134 billion; Tesla: $0.4 billion. Sales Today: GM: $157 billion; Ford: $158 billion; Tesla: $81 billion. Net Income, 10 Yrs Ago: GM: $6.2 billion; Ford: $5.6 billion; Tesla: -$0.4 billion. Net Income Today: GM: $10 billion; Ford -$2 billion; Tesla: $13 billion. Source: Charlie Bilello
