S&P 500 Index – Estimated Next 12-Month Operating Margin The decline in S&P 500 operating margins excluding the Magnificent Seven persists, suggesting that margin headwinds could remain challenging. Image: Morgan Stanley Wealth Management
S&P 500 Operating Margin After the COVID-19 pandemic, the operating margins of companies in the S&P 500 have returned to a state of normalcy, leading to a positive trend of improved profitability and cash flows for these companies. Image: Morgan Stanley Wealth Management
S&P 500 – Margin Debt vs. Long-Term Trend A rise in the ratio of margin debt to the S&P 500 market cap could indicate a bullish outlook for the U.S. stock market, potentially signaling confidence in the market’s upward trajectory. Image: Topdown Charts
S&P 500 and 12-Month Rate of Change in Margin Debt The rise in margin debt in June and July can be seen as a bullish signal for U.S. equities, indicating increased optimism and risk appetite among investors. Image: BofA Global Research Click the Image to Enlarge
U.S. EBIT Margin vs. ISM Manufacturing Prices Paid Index Profit margins are rarely sustained by falling inflation. Image: Morgan Stanley Wealth Management
S&P 500 Index and Margin Debt Can the YoY change in margin debt be interpreted as a positive sign for the S&P 500? Image: Morgan Stanley Wealth Management
MSCI All Countries vs. Median Profit Margin All Countries Will global corporate profitability improve in the coming quarters? Image: Topdown Charts
S&P 500 Operating Margins Will the profitability of S&P 500 companies improve in the coming quarters? Image: Morgan Stanley Wealth Management
U.S. PPI Less U.S. CPI vs. S&P 500 12-Month Forward Profit Margin Are margins at risk, as they tend to be correlated with the spread between PPI and CPI? Image: Morgan Stanley Wealth Management
S&P 500 Net Margin and NFIB Small Business Survey: Demand vs. Wage Cost Composite (Leading Indicator) Is there a risk of further decline in S&P 500 margins? Image: Morgan Stanley Research
Margins – PPI Trade Service Index, Unit Labor Costs and U.S. Core CPI Are margins at risk in 2023? Image: Pantheon Macroeconomics