Based on forward P/E, US equities are trading at a 53% premium relative to the rest of the world
Source: Augur Infinity
September is historically the WORST month for US and global stocks
The S&P 500 and MSCI All-Country World Index have averaged a –2% return in September over the past decade. Stocks fell in 4 out of the last 5 Septembers, with the steepest drop in 2022 — exceeding 9%. Source: Global Markets Investor @GlobalMktObserv, Bloomberg
The best performing stocks in the S&P 500 this year...
Source. Charlie Bilello
All major markets became more expensive last 12 months, US saw LEAST valuation increase MOST earnings growth
Source: Blackrock
$BABA Alibaba shares are jumping +18%
The most since 2022, after China’s e-commerce leader posted a triple-digit percentage gain in AI-related product revenue as well as a better-than-anticipated 26% jump in sales from the cloud division. Alibaba’s rally also helped energize the broader AI sphere: Ernie developer Baidu gained as much as 5.8%, while Tencent Holdings also climbed. “Alibaba’s breakout reinforces a broader theme in Asia: while global tech remains preoccupied with geopolitics and valuations, parts of China tech are quietly REACCELERATING—driven not by hype, but by real revenue growth in AI and cloud,” said Charu Chanana, chief investment strategist at Saxo Markets. “This isn’t a broad-based rotation yet—but the divergence is real.” Source: Bloomberg, @neilksethi on X
Global equity returns through 8 months...
Source: Charlie Bilello
Analysts have raised $NVDA estimate after Q2 earnings.
The stock is now trading at just ~27x on next year EPS estimate while growing at ~50% Source: The AI Investor @The_AI_Investor
German stock market valuations have hit HISTORIC levels:
DAX index forward P/E ratio relative to the Euro Stoxx 600 P/E reached the highest level since the Financial Crisis. DAX P/E is 16x, above the average of 13x over the last 10 years. Source: Global Markets Investor, Bloomberg
