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...The prime minister last week committed to boosting defence expenditure to 2.5 per cent of gross domestic product by 2030, from its current level of just over 2.3 per cent....
...Does Buffett matter?...
...As of the end of Wednesday in the US, the index had receded slightly to about 18.2, still far above its late-March level of 12.6....
...At a price-to-book ratio of just 2, the Russell 2000 is currently cheaper than the 10-year average of 2.2, and the 40-year average of 2.1, Goldman Sachs notes....
...Even smaller stocks are finally catching up a little, with the Russell Midcap index (+4.3 per cent) and the Russell 2000 (+3.6 per cent) leading the Russell 1000 (+3.2 per cent) in March, notes Bank of America...
...This chart from JP Morgan Asset Management isn’t exactly titled BTFD, but it does remind us that when the S&P 500 has just lost a cool quarter in value, the most successful thing to do has usually been to...
...Nearly 1,500 people arrived in the UK by small boat last week alone, taking the total so far in 2024 to more than 8,500 — 36 per cent higher than the same period last year....
...It is not clear how World Athletics’ decision will be viewed by the IOC, which does not offer prize money to competitors....
...A similar picture holds for forward price-to-sales (2.9 in 2021 vs 2.6 today vs 1.9 historically)....
...The blue-chip S&P 500 closed up 0.9 per cent, at a new record, continuing a rally that has pushed the index 27 per cent higher since October. The Nasdaq Composite gained 1.3 per cent....
...market capitalisation-weighted S&P 500....
...A clever ploy to attack Labour over Starmer’s willingness to let the British Museum return the 2,500-year-old carvings? That’s another theory doing the rounds....
...The stark divergence does not end there....
...Wall Street’s blue-chip S&P 500 stock index closed 1.2 per cent lower, its sharpest daily decline since the middle of February, while the tech-heavy Nasdaq Composite fell 1.4 per cent....
...S&P 500 dividend yields went as high as 9.2 per cent in the first quarter of 1938, according to S&P Dow Jones Indices. Even IPOs paid them, as I read to my surprise in Peris’s book....
...It’s a massive system, generating more than 500 terawatt hours of electricity annually, more than the UK....
...Pandemic lockdowns, followed by severe inflation in drink, food and energy costs, have killed others: more than 500 shut last year after financial support expired....
...But it does pose several challenges....
...Stocks have rallied strongly this year, with the blue-chip S&P 500 enjoying its best start to a year since 2019, having risen 10.2 per cent in the first quarter of 2024....
...The S&P 500 hit another all-time high yesterday. More importantly, Trump Media & Technology Group rose another 14 per cent, right after we wrote that it looked a bit overvalued....
...Does it really need a quirky nickname? Snark aside, Alphaville was curious: could any combination of decently-sized European stocks have beaten the Mag7?...
...Studies by the IMF and the Global Trade Alert research service show more than 2,500 industrial policy interventions last year, more than two-thirds of them trade-distorting....
...The PEG ratios of Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla are 4.6, 1.3, 1.3, 1.2, 2.6, 0.7 and 2.1, respectively....
...If forecasters are right, tomorrow will bring the first consumer price inflation report with a 2-handle headline number since 2021....
...It employed about 2,500 staff during that year....
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