Search Results for: U.S.

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

Bank Cash As a Share of Total Assets U.S. banks have plenty of cash on hand and most banks are in very good shape. Image: Gavekal, Macrobond

S&P 500 Average Median and Positive Hit Rate of Monthly Returns Based on Credit/Fed Cycles Fed easing and credit tightening regime does not bode well for U.S. equities. Image: BofA US Equity & Quant Strategy

S&P 500 Annual % Change vs. Liquidity Measure Shrinking excess liquidity remains a headwind for U.S. stocks. Image: Real Investment Advice

LEI 6-Month ROC vs. S&P 500 EPS Annual % Change The 6-month annual rate of change of the Leading Economic Index is highly correlated with S&P 500 earnings growth. Should U.S. equity investors remain cautious? Image: Real Investment Advice

Housing – New One Family Houses Sold Total NSA U.S. new home sales rose 7.2% in January, which was better than expected. Image: The Daily Shot

S&P 500 Trailing P/E + CPI YoY and Prior Market Bottoms Historically, U.S. stocks bottomed when the S&P 500 trailing P/E + CPI was below 20. Image: BofA US Equity & Quant Strategy

Liquidity – Market Depth of S&P 500 E-mini Futures U.S. equity market depth has been steadly improving. Image: J.P. Morgan

Average Monthly S&P 500 Return During Different ISM Cycle Phases Conditional on Bond Yield Changes Historically, rising bond yields are a headwind for U.S. equity returns. Image: Goldman Sachs Global Investment Research

Near Term Forward Spread Recession Over 12 Months The near-term forward spread indicator (spread between U.S. 3-month rates and the U.S. 3-month rate 18 months forward) is flashing red. Image: J.P. Morgan

S&P 500 Performance November – April During Midterm Years Historically, the six months from November through April have seen the best performance for U.S. stocks following midterm elections. Image: Carson Investment Research