Why has the sp500 been moving higher despite rate cuts expectations being revised downward?
It is as simple as EPS 12 month estimates have soared. Up another 2% the past 12 months. Source: Ryan Detrick
In case you missed it...energy stocks relative performance vs sp500 has turned around at the end of February...
Source: J-C Parets
Why you need to invest, in one chart...
Over the last 30 years, the purchasing power of the US consumer dollar has been cut in half due to inflation. At the same time, the sp500 has gained 840% (7.8% per year) after adjusting for inflation... Source: Charlie Bilello
Who Remembers March 12, 2020?
Source : fintwit
Semiconductor stocks have reached their highest valuation compared to the S&P 500, exceeding the levels seen during the dot-com bubble peak.
source : bloomberg
Lowest Number of S&P 500 Companies Citing “ESG” on Earnings Calls Since Q2 2019
Through Document Search, FactSet searched for the term “ESG” in the conference call transcripts of all the S&P 500 companies that conducted earnings conference calls from December 15 through March 7. Of these companies, 29 cited the term “ESG” during their earnings calls for the fourth quarter. This number is below the 5-year average of 82 and below the 10-year average of 43. In fact, this is the lowest number of S&P 500 companies citing “ESG” on earnings calls going back to Q2 2019 (22). Since peaking at 155 in Q4 2021, the number of S&P 500 companies citing “ESG” on quarterly earnings calls has declined (quarter-over-quarter) in nine of the past ten quarters. At the sector level, the Financials (6), Utilities (5), and Health Care (4) sectors have the highest number of S&P 500 companies citing “ESG” on earnings calls for Q4. On the other hand, the Utilities (17%) and Energy (15%) sectors have the highest percentages of S&P 500 companies citing “ESG” on earnings calls for Q4. source : factset
Only 24% of S&P 500 members outperformed the index over the last year, the lowest % on record w/ data going back to 1994.
Source: Charlie Bilello
P/E expansion explains recent S&P 500 rally
Source: Goldman Sachs, TME
