The US equity market ultra-dominance
Source: Michel A.Arouet, Bloomberg, Goldman Sachs
S&P 500 Q3 GAAP earnings per share are 18% higher than a year ago, the 3rd straight quarter of positive YoY growth. Quarterly earnings are now just 2% below the record high from Q4 2021
Source: Charlie Bilello
In case you missed it... The SP500 Equal Weighted Index is now down more than 5% this year...
Source: Barchart
Elon Musk’s X is worth less than half of price he paid for Twitter
X is worth $19 billion a year after the $44 billion purchase. Employee restricted stock units are awarded at $45 a share. Source: Bloomberg, HolgerZ
As a remainder, Bank of Japan (8301.JP) is a tradeable stock so you can buy some if you wish
Note that the chart does not look pretty... Maybe the market doesn't give much credibility to the management? Source: www.zerohedge.com
Eli Lilly exceptionalism... $LLY vs. rest of Pharma and S&P 500 Healthcare stocks
Source: Goldman Sachs, TME
Getting cheaper...
Global stocks have lost another $1.5tn in mkt cap this week on still-elevated US 10y yields and on not good enough earnings results. All stocks now worth $98.2tn, less than global GDP. This means that the Buffett Indicator is once again below the critical level of 100. Source: HolgerZ, Bloomberg
Here’s a look at the four 10%+ corrections we’ve had in the last two years
Just registered 4 last week. How deep will this one end up being? Source: Bespoke
