Ever heard of the PEG ratio?
It's Peter Lynch's go-to metric, shorthand for "price-to-earnings growth". Scores <1.0 hint at a bargain, while >2.0 might be a bit pricey -- let's take a look at where the 'Magnificent 7' stack up Shay Boloor via StockSavvyShay
Israel's Benchmark Index TA-35 plunges >6%, biggest drop since March 2020 after Hamas attack
The Hamas assaults mark the deadliest attack on Israel in decades and threaten to escalate into a broader conflict. Israeli shekel has slumped toward 7y low in recent days, ahead of the scheduled reopening of Israel’s parliament later this month. (HolgerZ via BBG)
Novo Nordisk weight loss drug Ozempic is causing selloff in candy and beer stocks, per Bloomberg.
Walmart said it’s already seeing an impact on shopping demand from people taking Ozempic. That sent shares of food and beverage companies sliding, some to multiyear lows. Source: Bloomberg, TME
In case you missed it. Citigroup $C yesterday closed at its lowest price since the onset of Covid...
Source: barchart
EXTREME FEAR ?
-> Stock Market Fear & Greed Index falls to 16, the most fearful its been in the last year. Meanwhile, only 8% of $SPX stocks are currently trading above their respective 50-day moving averages, representing a 2%ile move over the last decade... Source: barchart
Arm takes the spotlight as the largest 2023 IPO, a year that has been almost deathly quiet for I.P.O.s.
The chip designer, which is owned by SoftBank, had priced its offering at $51 a share, raising $4.87B. Source: Genuine Impact
On a growth-adjusted basis, the mega caps trade at the largest discount to the median S&P 500 stock in over six years
Source: TME, Goldman Sachs
Asset class and style returns by JP Morgan
As bonds and stocks fell simultaneously, commodities were the notable outperformer in Q3, returning 4.7% and echoing the market dynamics of 2022. Source: JP Morgan
