S&P 500 Recovery Since The Financial Crisis

S&P 500 Recovery Since The Financial Crisis The chart shows that the S&P 500 has outperformed its historical recoveries since 2009. Image: Goldman Sachs Global Investment Research

Second-half Recovery in Growth?

Second-half Recovery in Growth? Better economic data could extend the business cycle. Currently, G7 & BRIC leading indicators remain encouraging and suggest no imminent recession. Image: Richardson GMP

Global Equities Are Pricing In A Global Recovery

Global Equities Are Pricing In A Global Recovery This chart shows that global equities tend to move ahead of changes in world trade volumes, with a two-month lag.  Global equities are pricing in a global recovery, not global trade wars. Image: Absolute Strategy Research

Goldman Sachs Risk Appetite Momentum Indicator

Goldman Sachs Risk Appetite Momentum Indicator The Goldman Sachs risk appetite momentum indicator is at historical highs, on growing trade optimism and expectations of a global economic recovery. Image: Goldman Sachs Global Investment Research

Earnings Estimate Progression

Earnings Estimate Progression The consensus growth estimate for Q3 earnings stands at -3.2%, but the earnings recovery seems better than 2016. The Fed’s dovish pivot and low interest rates should continue to support the U.S. stock market. Image: Fidelity Investments

U.S. Excess Liquidity Growth Leads S&P 500 Returns

U.S. Excess Liquidity Growth Leads S&P 500 Returns This chart suggests that M2 money supply to nominal GDP ratio leads S&P 500 returns by one year. Is the S&P 500 vulnerable to a drop, followed by a recovery? Image: Oxford Economics, Macrobond