S&P 500 Operating EPS vs. USA National Income, Corporate Profits Thanks to buybacks, this chart clearly shows the current divergence. Is a new bubble being formed? Picture source: Nordea and Macrobond
Japan Corporate Profits Leads MSCI World EPS This chart suggests that Japan corporate profits leads MSCI World EPS by 7 months. Picture source: Nordea and Macrobond
S&P 500 EPS vs. U.S. Nonfinancial Corporate Profits Creative accounting is imaginative ways to present accounts. The divergences between earnings and U.S. nonfinancial corporate profits occur before recessions. Picture source: Gavekal, Macrobond
S&P 500 Forward EPS and World Trade Growth The chart shows a pretty good correlation between the S&P 500 forward 12-month EPS and the CPB World Trade Index. Picture source: Oxford Economics, Macrobond
South Korean Exports vs. S&P 500 EPS Estimates The correlation between South Korean exports and S&P 500 EPS estimates suggests a weakness in S&P 500 earnings estimates. Picture source: Lohman Econometrics
World Semiconductor Sales and S&P 500 EPS Tight relationship between world semiconductor sales and S&P 500 earnings per share. You may also like “Semiconductor Sales vs. Global Earnings per Share.” Picture source: Oxford Economics
Global Semiconductor Sales vs. MSCI World EPS Growth The chart shows global semiconductor sales vs. MSCI world EPS growth and suggests negative global EPS growth. You may also like “MSCI Emerging Markets Index vs. World Semiconductor Sales.” Picture source: Jeroen Blokland
EPS Growth This Cycle This chart shows the exceptional earnings growth in the technology sector over this business cycle. Picture source: KKR Global Macro
S&P 500 1-Year Volatility vs. EPS Revisions This chart from SG shows a good correlation between earning revisions and the S&P 500 1-year volatility. You may also like “S&P 500 1-Month Volatility History Since 1928 and VIX Since 1990.” Picture source: Societe Generale Cross Asset Research
S&P 500 Index Earnings per Share (EPS) Forward Estimates, Next 12 Months, Since 2018 The consensus S&P 500 earnings for the next 12 months has increased from $173 to $175. See why The Risk Of An Earnings Recession in 2019 Is Less Than You May Think. Picture source: LPL Financial LLC
