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
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
FINRA Margin Debt and 12-Month Z-Score Is the current 12-month z-score for margin debt a contrarian bullish signal for U.S. stocks? Image: BofA Global Research
Univ. of Mich. Consumer Sentiment Index and Russell 1000 Index, Trailing 12-Month Gross Profit Margin Should investors expect gross profit margins to disappoint in the coming months? Image: Morgan Stanley Wealth Management
U.S. Equities – Margin Debt and S&P 500 Is the sharp decline of margin debt a contrarian bullish signal for U.S. stocks? Image: Morgan Stanley
S&P 500 Operating Profit Margins U.S. profit margins have narrowed as corporate prices have become lower than labor costs. Image: BCA Research