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...If you take the Magnificent 7 out of the S&P 500, its multiple moves from 22 to 19. The S&P 350 is at 14....
...Looking at a 20-year chart of the price/earnings valuations of the S&P 500 and its small cap sibling the S&P 600, it seems possible that this is what has happened to small stocks: Small caps (dark blue...
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...The forward P/E of the Mag 7 is 31. The rest of the S&P 500, excluding the Mag 7 and four stocks with negative expected earnings, has a forward P/E of 19....
...S&P Global’s flash eurozone composite purchasing managers’ index, which measures business activity across the bloc, rose to an eight-month high of 48.9 this month, up from 47.9 in January....
...The S&P 489 has a weighted average P/E of 24, cheaper than the whole index, but not by much....
...On a forward P/E basis, the S&P 500’s 2021 (harmonic) average was 23, versus an average of 22 in the past four months and 18 in the past three decades....
...High multiples on which they trade have pushed the broader S&P 500 Shiller price-to-earnings ratio, aka the cyclically adjusted p/e ratio (CAPE), up from less than 30 times in late 2022 to 34 times....
...The P/E relative of the stock on UBS 2026E EPS (against the market) goes to a record high of 152% on the UBS forecast of earnings. 2....
...Japanese stocks traded on a P/E of 67x in 1990. The Nifty 50 traded on a P/E of 34x in 1973....
...In the S&P 500, 64 per cent of stocks have crossed above their 200-day moving average, which is above the historical mean: Every S&P sector has positive returns over the period....
...S&P 500 hit an all-time high on Friday but, as my colleagues Nicholas Megaw and Kate Duguid have pointed out, stocks limped to the summit....
...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....
...At the top of the pile is the S&P 500, which is an absolute beast....
...But, as S&P puts it when explaining why U.S....
...P 500 options today are in 0DTE contracts....
...30x P/E multiple is sustainable given rest of the index trades at 18x,” write Goldman’s David Kostin and team....
...This matched a wider trend in which S&P 500 spending on buybacks fell 14 per cent on the previous year....
...The S&P 500 is up 4 per cent year to date....
...By September last year, all three had covered more than half of their respective 2024 production at prices above $3/mn Btu, according to S&P Global Market Intelligence....
...Shares in the company, which declined 5.6 per cent on Monday, have fallen more than a third this year, making it the second-worst performer in the S&P 500 and underperforming those of legacy carmakers....
...I would not want to bet that the Mag 7 would revert to a growth rate of profits near the S&P 500 average (mid-high single digits) in the next five years....
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