S&P 500 Market Capitalization Weight of Info Tech, Communication Services, and Health Care Info tech, communication services, and health care sectors now account for 52% of the S&P 500 market capitalization. Image: Goldman Sachs Global…
Aggregate EPS Growth U.S. earnings are outperforming the rest of the world in Q1:2020, because the U.S. was the slowest to lock down its economy. Image: Deutsche Bank Asset Allocation
Valuation – P/E Ratio Spread Between Russell 1000 Growth and Russell 1000 Value The P/E valuation spread for Growth vs. Value at 12.88 is nowhere near the 46.47 level seen at the 2000 peak and…
S&P 500 Index and Total Return to Gold Ratio According to BofA, the gold to equity ratio is elevated given the earnings uncertainty, but it is far from historical highs. Image: BofA Global Research
Recovery of the U.S. Economy – Republicans vs. Democrats Republicans and Democrats have different views on the recovery of the U.S. economy. Republicans are eager to reopen economy, while Democrats are more cautious. Image: Financial…
U.S. Job Losses During Recessions The U.S. jobs report for April brings sobering news. Image: Oxford Economics
S&P 500 Current P/E Valuation Based on 2021 EPS Scenarios Goldman Sachs baseline forecast for S&P 500 earnings in 2021 is $170, and the downside forecast is $115. Today, the S&P 500 trades at 19.5x…
U.S. Recessions vs. U.S. GDP Growth If history is any guide, this chart suggests a V-shaped recovery. Image: Morgan Stanley Research
Russell 1000 Growth vs. Russell 1000 Value BofA suggests that the relative strength for Growth could continue, as the P/E valuation spread for Growth vs Value at 12.88 is nowhere near the 46.47 level seen…
ISM Manufacturing PMI vs. Cyclicals/Defensives The outperformance of U.S. cyclicals could suggest that the U.S. economic activity has bottomed. Image: Gavekal, Macrobond
Gold’s Last Bull Market and Gold/S&P 500 Correlation During the GFC, the correlation between gold and the S&P 500 was positive. Deutsche Bank suggests that gold could move higher, as investor confidence remains subdued. Image:…