Search Results for: earnings

S&P 500 Buybacks Relative to Index Market Capitalization A recovery in corporate earnings could lead to a rebound in buybacks this year. Image: Gavekal, Macrobond

Global PMIs Global PMIs and earnings growth across regions could suggest a strong risk-on year. Image: Fidelity Investments

U.S. Corporate Profits and 10Y-3M Yield Curve While the divergence between large-cap profits and the rest of the economy is the widest on record, the steepening yield curve suggests an earnings rebound. Image: BofA Global Research

MSCI U.S. EPS vs. Trend History shows that earnings well above the trend in the U.S. precede earning plunges. Image: Barclays Research

S&P 500 EPS Forecast Despite the earnings squeeze, Goldman Sachs is still positive on the S&P 500 earnings outlook. In 2020, U.S. and global growth should rebound modestly. Image: Goldman Sachs Global Investment Research

Buybacks and Dividends as Percentage of Market Capitalization Amid gloomy earnings, U.S. companies are increasingly using debt to fund buybacks and dividends. Image: Institute of International Finance

S&P 500 All-Time Highs Today, S&P 500 jumps to record high on strong earnings. This chart shows S&P 500 all-time highs since 1982. Image: Ritholtz Wealth Management LLC.

MSCI World Index Valuation at Cycle Peaks and Troughs On average, the MSCI World Index currently trades at a price-to-earnings ratio that has marked cyclical peaks in the stock market over the past 50 years. Image: Charles Schwab

U.S. ISM Manufacturing Index and Cyclicals EPS Revision This chart shows the correlation between the ISM Manufacturing Index and cyclicals EPS revision, suggesting that 4Q19 will see a reset, with capital goods pricing in an actual earnings recession. Image: Morgan Stanley Research

China Credit Impulse – Reflation Cycle This chart shows that China credit impulse has not yet boosted relative earnings. Credit impulse is the change in new credit issued as a percentage of GDP. Image: Fidelity Investments

S&P 500 Tax Adjusted EPS vs. Trend Interesting chart showing that S&P 500 tax adjusted earnings are well above the trend in the United States, and have historically preceded earning plunges. Image: J.P. Morgan Asset Management