Truck Tonnage vs. S&P 500 Index The Truck Tonnage Index increased by 1.2% in February. Trucks represent 72.5% of U.S. freight and serve as a barometer of the U.S. economy. This chart shows that the U.S. stock market tends to increase in line with the physical size and expansion of the U.S. economy (R² =…
FMS Financial Market Stability Risks Index vs. S&P 500 Financial market stability risks continue to weigh on the S&P 500. Image: BofA Global Fund Manager Survey
Secular Bull Market – S&P 500 Weekly Chart with the 40-Week MA and 200-Week MA So far, the secular bull market remains intact. Image: BofA Global Research
Earnings – S&P 500 LTM EPS Growth YoY Morgan Stanley’s non-PMI leading earnings indicator does not bode well for EPS growth. Image: Morgan Stanley Research
Valuation – S&P 500 Index Price-to-Sales Ratio U.S. equities remain expensive by historical standards, despite the correction. Image: Morgan Stanley Wealth Management
S&P 500 Index and Technical Score The current reading stands at 24.22 and has decreased significantly. Image: Real Investment Advice
S&P 500 Equity Risk Premium If a U.S. recession occurs this year, the equity risk premium should rise materially. Image: Morgan Stanley Research
Returns – Average Year for the S&P 500 Over the past 20 years, the S&P 500 has bottomed around the middle of March. Image: Carson Investment Research
S&P 500 Earnings Estimates Morgan Stanley expects S&P 500 earnings per share of $195 in 2023 and $241 in 2024. Image: Morgan Stanley Wealth Management
Seasonality – S&P 500 Returns in March Will the last two weeks of March be positive for the S&P 500 Index this year? Image: LPL Research