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. Picture source: 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. Picture source: 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. Picture source: Absolute Strategy Research

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? Picture source: Oxford Economics, Macrobond

Earnings Estimate Progression

Earnings Estimate Progression The earnings recovery seems better than 2016. The Fed’s dovish pivot and low interest rates should continue to support the stock market. Picture source: Fidelity Investments