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The fourth quarter earnings season is longer than the others because companies need to complete their year-end numbers and get signed off on by the auditors.
Therefore, only half of those S&P 500 $SPY companies expected to report in February have scheduled earnings yet, so look for those right bars to get bigger. That said, we have a pretty good look at the next few weeks. This week will still be mostly about the Financials $XLF, but we’ll begin to get Industrials $XLI reporting too. source : earningswhisper
History has been made again in stocks:
Over 68% of the S&P 500 stocks have closed higher for 5 consecutive days, matching all previous records since 1928. If the same occurrence happens on Tuesday, it will mark a new record streak. In other words, the market's breadth has significantly improved. The last 2 times when such a streak occurred were in January and June 2019 which resulted in more upside in stocks. A similar trend was seen in September 2009 which resulted in the S&P 500 rallying 8% in the subsequent 3 months. Can bulls capitalize on this momentum? Source: The Kobeissi Letter
Over a third of the S&P 500 is now concentrated in the "Magnificent Seven" stocks, up from a fifth of the index two years ago.
Source: Charlie Bilello
Earnings do matter
Source: Investment Strategy Group, Bloomberg, S&P Global
SP500 companies’ revenue per worker.
Source: Eugene Ng on X, BofA
Since 1950, the S&P 500 has had an average intra-year drawdown of -13.6% but is still up 11.6% per year annualized.
No Risk, no Reward. Source: Peter Mallouk @PeterMallouk
Shocking stat of the day: The market cap of the SP500’s top 5 stocks is now equal to the size of the bottom 407 stocks.
Apple, $AAPL, Nvidia, $NVDA, Microsoft, $MSFT, Google, $GOOGL, and Amazon, $AMZN are worth now a combined $15.3 trillion. These companies have added $5 TRILLION in market value since the beginning of last year. To put this into perspective, these 5 stocks are worth now nearly as much as China and Hong Kong's stock markets COMBINED. The top 5 companies reflect a record 24% of the entire US stock market cap. Source: Compound, The Kobeissi Letter
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