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The upside down stock market has continued powering upward, with the S&P 500 breaking back above the 3,000 level to close the month of May at 3,044.31 . That's both 341.84 points (about 10.1%) below where the market peaked back on 19 February 2020 and 806.91 points (about 36.1%) ab...
Shares buybacks can have a severely destabilizing impact on longer term companies' valuations, as noted in numerous posts on this blog. In the COVID19 pandemic, legacy shares buybacks are associated with reduced cash reserves cushions and thiner equity floats for the companies that aggressive...
Those that follow my personal account on Twitter will be familiar with my weekly S&P 500 #ChartStorm in which I pick out 10 charts on the S&P 500 to tweet. Typically, I'll pick a couple of themes to explore with the charts, but sometimes it's just a selection of charts that will ad...
In 2013, I wrote an article discussing comments made by Russ Koesterich, CFA, regarding the Chicago Fed National Activity Index (CFNAI). Given this economic indicator just crashed by the most on record, it is worth reviewing his comments. To wit: "While economic numbers like GDP or payro...
The constant focus on S&P 500 earnings often overlooks the importance of S&P 500 revenue. The same quality analysis of S&P 500 earnings by IBES data by Refinitiv doesn't always extend to S&P 500 revenue. Readers of Refinitiv data reports don't get the forward look on S&P ...
Investors and newsletter writers are finally seeming to be convinced by the rally, as the S&P 500 has retaken its 200-DMA over the past week. 33.07% of respondents in AAII's weekly sentiment survey reported as bullish this week. That is up from 29% last week and the highest level of bullis...
By Jeff Weniger, CFA When you look at Wall Street's consensus S&P 500 earnings estimates for year-end, it doesn't look realistic. It happens every year, doesn't it? The example in figure 1 is one of the more egregious I've seen. I am hard-pressed to see how S&P 500 earnings i...
Bearish warnings by royal pundits are on the rise again. The same commentators who talked you out of your stocks at the lows and inflamed panic selling at the bottom are back again as economies open and just before the summer rally and seasonality kicks in. To the bearish viewpoint, April wa...
Anthony Okolie recaps the news of the day including the latest COVID-19 updates, followed by Kim Parlee's talk with Rob Vanderhooft, Chief Investment Officer, TD Asset Management, about how periods of higher volatility can help clear excesses, and create investment opportunities. Orig...
Russ highlights the surprising resilience of technology stocks this year. The last time I wrote about technology stocks , the world looked very different. In mid-February, the market was at an all-time high, unemployment was at a 50-year low and investors were starting to contemplate a Sa...
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NEW YORK , Aug. 28, 2020 /PRNewswire/ -- Direxion continually reviews its product range to ensure it's meeting the needs of our clients. Based upon a recent review, the Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and close 15 ETFs (each, a "Fund" and c...