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...Between 2009 and 2023, such underperformance resulted in cumulative S&P 500 gains that were five times those of Euro Stoxx 50. Such US equity exceptionalism has not always been the case....
...Take US equities: investors now discount that the Fed is able to cut rates by nearly 1.5 percentage point, starting as early as March, helping to drive double-digit earnings growth next year in S&P 500 companies...
...S&P 500 stock....
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...Seems to me, therefore, that unless I can beat the S&P 500 — in sterling to match my liabilities — I shouldn’t bother. The author is a former portfolio manager....
...So I ran some numbers on the S&P constituents, looking at valuation multiples, expected and historical growth rates, and various measures of return on capital....
...You can see it in this chart of the various tenors as a percentage of overall US stock market option volumes — ie S&P 500 index options, ETF options, and single-stock options....
...Looks like S&P Ratings doesn’t find “attestations” especially convincing, either....
...During that time, the S&P 500 is up about 150 per cent....
...NexTier shareholders will end up owning 45 per cent of the new company even though it will contribute about 48 per cent of group ebitda, according to S&P Global Market Intelligence data....
...For instance, just one tech company’s recent gains added the equivalent of the market capitalization of the bottom 100 companies in the S&P 500, and the size of the crypto market doubled since last fall....
...The S&P 500 and the Nasdaq Composite each gained 0.4 per cent to close at their highest levels in about 20 months....
...Wall Street’s benchmark S&P 500 was down 0.1 per cent in early trading in New York, as was the tech-heavy Nasdaq Composite....
...That compares with the S&P 500’s similar trailing p/e of 21.2, which is down only a touch from a pre-pandemic 22, according to Bloomberg data....
...The moment was marked with various events designed to catch the eye, including a synchronised swimming performance in a giant tank in London’s Covent Garden, and of course the lighting of the Olympic flame...
...The S&P sits at 22 times earnings, the Russell at 27: not in a bubble, but expensive....
...The rush to corporate bond issues mirrors moves by traders betting on futures contracts tied to the value of the Vix index — the “fear gauge” that measures expectations of near-term swings in the S&P 500...
...Covered call ETFs generate income by writing and selling options on their underlying holdings — in JEPI’s case, large-cap stocks in the S&P 500....
...the performance of the S&P 500....
...In a choppy session for equity markets, Wall Street’s benchmark S&P 500 closed 0.9 per cent lower and the tech-heavy Nasdaq Composite dropped 1.5 per cent....
...various possibilities”, said Jonathan Masur, professor at the University of Chicago’s Law School....
...Market breadth, as measured by the number of S&P 500 stocks trading above their 300-day average, has broken above its long-term average. Small caps have outperformed large caps in the rally....
...Business and consumer confidence also expanded with the closely watched S&P PMI survey indicating private sector activity grew at the fastest pace in eight months in January....
...Take a look at this: Strictly speaking, the Fidelity 500 Index Fund is not an ETF like State Street Global Advisors’ SPDR S&P 500 ETF Trust (or BlackRock’s iShares Core S&P 500 ETF or Vanguard’s S&P 500...
...As S&P Global Ratings put it late last year: “Higher-for-longer interest rates remain the key risk for real estate assets globally.” US Treasury secretary Janet Yellen is, reassuringly, on it....
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