I was out all day today. So...here is how I did......a small loss for my nine stocks today. Plus a loss to the SP500 by 0.35%. Typical for a day when NVDA is in the red. MOVING ON FROM HERE.
I am in the camp that not everyone needs to or wants to own a home. I think there are advantages and disadvantages to both. In my early 20's I wanted to stay mobile in case I wanted to change jobs, now that I'm older with a kid having the stability of owning my own place makes more sense. From a financial standpoint, while my home is gaining value that I can cash out at some point, our apartment was 1/4 the cost of our current mortgage/overpayment and property tax. Talking about houses, what started as getting the entry way and hall painted has turned into having the entire inside of the house painted last week. Glad that's over! On top of that the wife has taken advantage of the situation to replace light fixtures and other bolt ons. Not a cheap month but necessary I guess. My plan is to eventually buy or build to get some land and car storage but realistically we will probably be in this house for another 3 or so years. My goal is to be in a 'forever home' before our kid starts school. I guess it's kind of contingent on the success of my portfolio.
Tiresmoke.....you are a great example for anyone on this board. YOU have a good short, medium, and long term plan for your life and finances. I have no doubt that you will achieve your wants and needs.
I have been siting and watching the opening hour today while reading and looking through sources of interest. I like this little article. Your Bull Market Continues https://allstarcharts.com/bull-market-2024/ (BOLD is my opinion OR what I consider important content) "It’s worth pointing out that despite the events over the weekend, you’re not seeing any bid at all for Gold. It’s the stock market that’s getting a bid. It’s Bitcoin that’s up 6% since Saturday. And it’s the Small-cap Indexes that are hitting new 30-month highs: Remember when it wasn’t a bull market because small-caps weren’t participating? Well now what? Remember when it was only 7 stocks? Well, last week we saw almost 50% of stocks in the Russell3000 hit new 1-month highs. As a reminder, the Russell3000 represents approximately 98% of all investable assets in the U.S. Equities market. Meanwhile, here’s another bull market development: ON AN EQUALLY-WEIGHTED BASIS (so not just Amazon and Tesla), Consumer Discretionary just broke out last week relative to Consumer Staples – coming out of a 6-month base to new multi-year highs. There is nothing bearish about Discretionary stocks outperforming Staples. That’s actually what you see in bull markets. You’ll also notice how the ratio between High Beta stocks and Low Volatility looks just like that Discretionary/Staples ratio. These charts are a great representation of the median stock in this market throughout most of this year. Sentiment was getting hot coming into February/March and the market needed a breather. Most stocks took a break after that. And then resumed higher during the back half of Q2. Since then the bull market has only gotten stronger. It’s not just 7 stocks. In fact, here is a list of the biggest companies in the country – ALL hitting new highs. (SEE CHART IN ARTICLE) You can get all the details from this week’s Hall of Famer’s Report here. But this is what bull markets look like. This is what happens in these kinds of environments. Go back and look for yourself. You’ll see." MY COMMENT We have for the past TWO YEARS, seen this BULL MARKET disrespected and doubted. Initially in the summer of 2022 when the SP500 started to go up.....no one noticed. After about 6-12 months people started to call it a bull market......but.....it was still suspect, disrespected, and denied....especially in the media. It has been the....."BUT"....bull market. Constantly being downplayed with....."but"......what about this...."but"....what about that.....etc, etc, etc. But, but, but, but. Well now just about all the BUTS are dissipating or are gone. BUT......a good number of investors and financial commentators still refuse to see what is happening. WELL......that is their problem. They are missing out on some great gains and a great bull market with a long way left to run. They are victims of their own over-analysis and human behavior. It is sad to see......"BUT".....absolutely normal.
AND....speaking of the bull market. Think Auction, Not Inflow Stocks don’t need a wall of new money. https://www.fisherinvestments.com/en-us/insights/market-commentary/think-auction-not-inflow (BOLD is my opinion OR what I consider important content) "The market is at all-time highs. More households own stocks now than at the height of the dot-com bubble, according to some surveys. Fund managers are all in. So who the heck is still going to buy and push stocks higher? This question underpinned a rather cynical (to me) Wall Street Journal column Monday. I have a simple answer: Me. I mean, not me alone. I am one person and soooo not a high roller, and I am far likelier to be hunched over a sewing machine, jam pot or old book than a trading platform in my free time. But I still do portfolio things now and then, and there are millions upon millions more people out there doing small portfolio things. We are not a massive flood of new buyers, yet we make the market go. Conventional wisdom says stocks go up when money pours in. Intuitively, it makes sense. Supply and demand drive all prices, including stocks. New money equals higher demand for an asset whose supply is fixed in the short term, so prices rise. But this simple logic quickly gets people to the mistaken belief that stocks need cash on the sidelines—or dry powder, or whichever metaphor you fancy—in order to keep rising. More new money, more new demand. But this isn’t how it works. Friends, I can make the market move without putting in one new cent. How so? A scenario: I pop into my account and look at my holdings, and I see this stock I have been souring on. I bought it with a certain thesis in mind. Things went as I expected, and it did well. Now I don’t expect such good things for it, yet I see a lot of people want to buy it. So I decide to help them out and add my shares to the mix, selling it to them at what, in my opinion, is a nice premium. I don’t call them suckers—I just think, one of us will be right, but it was time for me to move on. And if they want to pay me a little more for it, why should I say no? Even better, now I have cash! And I take that cash and go buy another stock, one I have a fresh, positive opinion of. The company has some new widgets and doohickeys in the pipeline and I think its industry is going to do well. Annoyingly, I have to bid the price a little higher because people aren’t keen to sell, but oh well, I am in this for the long haul, so, click! In short, in the span of two transactions, doing nothing but selling one stock and buying another, I made stock prices go up. All because I and others were willing to pay a little more to buy. It works like this because the stock market is a big auction. I accept bids on my things over here, and I make bids over there. The prices go up as long as a critical mass of us is willing to pay a little more. We don’t need new buyers to come in and drive the prices higher, because the market is huge and diverse enough that all the constant selling and buying keeps a big pool of money chasing things. This is one of the joys of a liquid market. Even if I won the lottery and came in with a few hundred million, it wouldn’t change my overall impact. I would still be buying from some existing owner. My purchase amount and their sale proceeds would cancel each other out on the market’s great big ledger. My money in, their money out. The net flow would be zero. And if their desire to sell outweighed my desire to buy, they might even end up selling to me at a discount, and the price would go down. Even with my “new money” coming in. All analogies are bad analogies, but this is sort of an investment version of the law of conservation of mass. Because every transaction has a buyer and a seller, and the buying price matches the selling price, no trade of an existing stock can ever represent a net flow into the market. That which goes in always mirrors perfectly that which goes out, offsetting to a nice fat zero. So how long do bull markets last? As long as the collective universe of investors, overall and on average, remains willing to pay a little more when we buy—whether our cash comes from selling something else, putting a 401(k) contribution to work or what have you. Bear markets start when our collective desire to bid stocks higher turns to a collective willingness to concede a lower price when we sell because we just want to be out of the darned thing. This, replicated over and over across thousands of stocks and millions of portfolios, is what makes stocks slide down that long, grueling slope. It starts gently at first, because there are enough hopeful buyers thinking they are getting a timely discount to put a floor under things. It usually ends with a late bloodbath as declines compound and indiscriminate panic selling reigns. And that is when a new bull market begins, with those gutsy, risk-loving people willing to think long-term and buy at the most fearful times. And it is their confidence and chutzpah, not their war chests, that starts the cycle anew. Now then, to the original question, who the heck is still going to buy and push this all-time-high stock market higher? We all are, all of us in the general investing world who want to buy. All those who help us out and buy what we want to sell so that we can get some cash to deploy—and all those who help us out and sell when we are ready to buy. It isn’t earthshattering or especially sexy, but it is decentralized beauty." MY COMMENT I agree completely. I also agree that it is the people like described above.....the little retail investor.....that are the unrecognized GUTS of the market. PLUS....it is an added bonus that 6.14TRILLION DOLLARS is sitting on the sidelines and at some point in the future some good percentage.....perhaps 15-25%......of that money will consider making its way into the markets as interest rates drop.
A nice first hour+ in the market today. The DOW up big, the SP500 up medium, and the NASDAQ flat. Good potential for the markets to try to fulfill as the day progresses.
To continue with the BULL MARKET theme today. The true bull market may finally 'wake up' as investors eye rate cuts https://finance.yahoo.com/news/the-...-up-as-investors-eye-rate-cuts-080027716.html (BOLD is my opinion OR what I consider important content) "Since the start of the bull market in October 2022, the stock market's move higher has largely been about artificial intelligence and the outperformance of a few large equities, driving investor concern that gains aren't widespread enough for the rally to continue. That could be changing. Thursday's better-than-expected inflation reading has sent the stock market into a tizzy in recent trading days. As investors have rapidly priced in higher chances of an interest rate cut from the Federal Reserve in September, the most loved areas of the market of the past year have underperformed as investors rotate into sectors outside of tech. The Roundhill Magnificent Seven ETF, which tracks the group of large tech stocks that led the 2023 stock market rally, is down more than 1.5% in the past five days. Meanwhile, Real Estate (XLRE) and Financials (XLF), both interest rate-sensitive sectors, have been the market's biggest winners over the same time period. The small-cap Russell 2000 (RUT) index is up more than 7% and finally breached its 2022 high for the first time during the current bull market. In another sign that a wide swath of stocks are rallying, the equal-weight S&P 500 (^SPXEW), which ranks all stocks in the index equally and isn't overly influenced by the size of the stocks moving higher or lower, has outperformed the traditional market cap-weighted S&P 500. Ritholtz Wealth Management chief market strategist Callie Cox told Yahoo Finance the market action as of late has been "refreshing" and could be the sign of a maturing bull market, where a wide range of stocks are contributing to the rally, providing more support for stock indexes at record levels. "If this trade continues, if the prospect for a rate cut is still in play for this fall, then we could finally see the bull wake up, and that's good news for all investors," Cox said. It's not the first time strategists have been optimistic about market rotations like the one currently happening. Other spurts of widespread rallies were celebrated in December 2023 and during the first quarter of this year. The question is whether a big broadening of stock market gains is finally underway this time, or if this is yet another head fake as the market becomes overly optimistic about Fed rate cuts. "The conviction level that we have is higher right now than back in December [during the Fed pivot-driven market rally]," Bank of America Securities senior equity strategist Ohsung Kwon told Yahoo Finance. Kwon notes that the narrative driving the rally — hopes of a soft landing and gradual interest rate cuts from the Fed — is largely unchanged from the prior broadening spurts. But this time, he said, "the earnings backdrop is really supporting this rotation as well." Bank of America's earnings analysis shows the 493 stocks not including the Big Tech "Magnificent Seven" are expected to grow earnings year over year for the first time since 2022 during the current reporting period. As seen in the chart below from JPMorgan Asset Management's midyear outlook in June, the earnings growth of those stocks is expected to pick up in the coming quarters, while Big Tech is expected to see its earnings growth slow. Given that earnings are typically the key driver of stock prices, this would support the theory of a broadening rally. But the key caveat is that these are just expectations. And given the market's struggle thus far this year to produce a wide array of winners, some strategists want to see actual earnings growth to confirm the narrative that's currently baked into estimates. "I want to see earnings growth come from more sectors than just tech," Cox said. "I think that that's the big theme of this particular season. You know, seeing how many sectors can actually pitch in and move the S&P 500's profit expectations higher." The same could be said for the other narrative backing the recent rotation. Markets are now pricing in a more than 90% chance the Fed cuts interest rates in September, per the CME FedWatch tool. But again, Cox is wary of declaring the broadening will certainly continue. "Until we're officially in that rate cut cycle, it's hard to say that this broadening trade is here to stay," Cox said. "I hope it is. I'm optimistic it is, but you're still going to have a market that's hanging on every piece of economic data that comes across the tape." Charles Schwab senior investment strategist Kevin Gordon is also cautious about declaring the big broadening has arrived. Gordon noted "more clarity" on the Fed's cutting cycle and why it would start cutting remains paramount, particularly for the most interest rate-sensitive areas of the market like small caps. Gordon reasoned the recent market action has been a "great step in the right direction." But a broad rally won't come overnight, Gordon said. He added, "The nature has been for everybody to say that it's this great rotation, but great rotations tend to take a little bit longer than a couple of days." And even if that rotation slowly occurs, recent index performance shows that will mean a different, slower path higher for the S&P 500 too. The S&P 500 closed down last Thursday despite the release of a promising June inflation report as investors moved out of the large tech stocks, which hold bigger weightings in the index than smaller stocks. "We could see a little bit of this churn where some stocks are passing the baton to other stocks," Cox said. "Tech stocks are passing the baton to other stocks. Sure, we may not see prices move up as quickly as they have. But this is the kind of movement that strengthens the foundation of a bull. It means that this rally can be stronger and live longer eventually." MY COMMENT I will gladly take anything that prolongs and strengthens the current nearly TWO YEAR bull market. I have been watching and commenting on the SP500 going up since about mid summer of 2022. Much of that time it has been a STEALTH bull market. Now....if the markets and investors want to recognize and accept it and broaden out the rally....GREAT. I will continue to benefit and I will take it. I actually have no choice....since I am fully invested all the time.
As to the magnificent seven.....or is it eight now.......I have ZERO doubts about the near and long term future. I have no concerns about the rally going broad. The big cap tech stocks will do just fine during any continued rally. They will continue to lead the way. They will continue to rack up gains. They will continue to.....in hindsight.....produce great profits for investors. I believe we are seeing a very light.....rotating..... pause in some of the big cap tech stocks over the past week or two or three....although APPLE has broken out lately. MOST of the big cap giants will be putting out earnings some time over the next few weeks. Many people are waiting for those earnings as are the general markets. The earnings reports will be the primary factor as to the future.....short term..... gains for these stocks. This is exactly how it should work in the markets......FUNDAMENTAL BUSINESS FACTORS......driving us forward.
WELL....I have four stocks green right now.....AMZN, GOOGL, HD, and CMG. Five others in the red at this moment. Some of the portfolios that I manage are slightly green and some are red. Basically an undecided day today for me....I will just have to wait and see how we close. The DOW is on fire today....due to a small number of stocks. I even heard.....for the first time....someone on TV this morning talking about DOW 50,000.
EARNINGS are coming very quickly. For me...here is my schedule. Although I am seeing some dates that might still be fluid. July 23..................GOOGL, MSFT. July 24..................CMG. August 1...............AAPL, AMZN. August 5...............PLTR. August 13.............HD. August 28.............NVDA. September 26.......COST.
A loss for me today with three of nine stocks in the RED. Of course one was NVDA. It is very difficult for me to get into the green when NVDA is down by over $1. My down stocks today.....NVDA, MSFT, and GOOGL. I also lost out to the SP500 today by 1.25%.
Welcome to Texas. Elon Musk says he's moving SpaceX, X headquarters from California to Texas https://finance.yahoo.com/news/elon-musk-says-hes-moving-195127968.html "Musk has also said that he has moved his residence from California to Texas, where there is no state personal income tax." MY COMMENT Simply consolidation in line with REALITY. He is constantly under attack now from progressives and the media.....even in the financial news........he used to be their darling. May as well complete his move out of California.
The DOW screws with my brain on days like today. I see it up by over 700 points and my brain says that it is a MASSIVE gain. In reality......since the DOW is now over 40,000....today was "only" +1.85%.
OK....the minor economic data of the day. US manufacturing output beats expectations with 0.4% rise in June https://finance.yahoo.com/news/us-manufacturing-output-beats-expectations-135831749.html (BOLD is my opinion OR what I consider important content) "WASHINGTON (Reuters) - Production at U.S. factories increased more than expected in June, contributing to a solid rebound in output in the second quarter, though higher borrowing costs remain a constraint for the manufacturing industry. Factory output rose 0.4% last month following an upwardly revised 1.0% increase in May, the Federal Reserve said on Wednesday. Economists polled by Reuters had forecast factory output would advance 0.2% after a previously reported 0.9% jump in May. Production at factories shot up 1.1% on a year-on-year basis in June. It increased at a 3.4% annualized rate in the second quarter, rebounding from the 1.3% pace of decline in the January-March quarter. Manufacturing, which accounts for 10.4% of the economy, has at best been treading water as higher interest rates curb demand for goods and make capital investment challenging. There is, however, optimism that activity at factories could pick up, with the U.S. central bank expected to start its monetary policy easing cycle in September amid subsiding inflation. Motor vehicle and parts output rose 1.6% last month after being unchanged in May. Durable goods manufacturing production was unchanged. Increases in the output of motor vehicles and parts as well as electrical equipment, appliances and components were offset by declines in fabricated metal products and miscellaneous goods. Nondurable manufacturing production increased 0.8%. Mining output rose 0.3% after falling 0.7% in May. Utilities production increased 2.8%. That followed a 1.9% rise in the prior month. Overall industrial production advanced 0.6% in June after gaining 0.9% in May. Industrial production rose 1.6% on a year-on-year basis in June. It increased at a 4.3% rate in the second quarter. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, rose to 78.8% from 78.3% in May. It is nine-tenths of a percentage point below its 1972–2023 average. The operating rate for the manufacturing sector climbed to 77.9 from 77.6% in the prior month. It is four-tenths of a percentage point below its long-run average." MY COMMENT Good economic news as many of the inflation and other indicators are......"supposedly".....down. I say supposedly because you cant really trust this data.....it is just too unreliable and constantly being revised.
With the small cap side of the markets on a TEAR lately......we are seeing the impact of herd driven trading by the short term Wall Street professionals and the Hedge funds. Compliments of AI trading platforms acting in concert to establish the short term market direction. We now have a totally stratified and disconnected market. One one hand we have the little retail investors....who tend to be buy and hold. On the other hand we have the professionals.....the traders with their micro-second trading. Once in a while.....but not often..... they work in concert. The current market is disconnected from the upcoming earnings. It is chasing short term.....trading...profits. No doubt the traders are hammering the chip makers today. It is irrational and silly....but that is the short term. When you think about it, NVDA is down by........about $70.....per share pre-split price. This and the other chip stocks today.....as well as the big cap market......is the perfect example of NEWS BASED micros-second-trading. Simply silly. BUT....that is how the short term works now. AND.....since I refuse to get into the short term insanity.....which is a sure LOSING GAME for little investors......I am a long term all the time investor.
This story is part of the traders....feeding frenzy.....today. Google, Microsoft offer Nvidia chips to Chinese companies, the Information reports https://finance.yahoo.com/news/google-microsoft-offer-nvidia-chips-133606623.html
Here is the....rest of the story....of the markets today. Stock market news today: S&P 500, Nasdaq slide as China curb risk rattles techs https://finance.yahoo.com/news/stoc...-china-curb-risk-rattles-techs-102418842.html (BOLD is my opinion OR what I consider important content) "US stocks pulled back from record highs on Wednesday, as techs came under dual pressure from worries about US export curbs on China and Donald Trump's stance on Taiwan. The Dow Jones Industrial Average (^DJI) fell about 0.1%, The S&P 500 (^GSPC) fell nearly 1%, while the tech-heavy Nasdaq Composite (^IXIC) dropped more than 1.6%. Stocks are pulling back as concerns about risks to tech names eclipse the high hopes for interest-rate cuts that have fueled the rally in recent days. Those worries weighed on heavyweights whose AI-fueled gains have helped propel the S&P 500 to fresh record highs this year, with chipmaker Nvidia (NVDA) down about nearly 4% in early trading. The Biden administration has told allies it's looking at imposing tougher restrictions on companies still making advanced chip technology available to China despite existing export curbs, Bloomberg reported. Shares of ASML (ASML, ASML.AS), cited as a potential target, dropped over 8% after the Dutch chip gear maker posted solid quarterly earnings. Meanwhile, the Republican nominee Trump questioned US defense support for Taiwan in a Bloomberg interview, suggesting the island claimed by China should pay for US protection. Chipmaker TSMC's (TSM, 2330.TW) shares fell more than 6%, having erased close to $30 billion in market value in Taiwan as stocks there slipped." MY COMMENT When the markets are driven by comments from candidates during a nasty election battle.....the result is just SILLY. But that is how trading works. You take advantage of any news item you can and you use that to momentum trade the markets......on the micro-second. For long term investors like me....it just creates a time period to sit and do nothing. Yes....BORING.....but that is just how it is now in the investing world. If you want to be in the markets you have to be able to put up with the short term insanity. Of course if you are a short term trader....it is NOT insanity....assuming you are making money. It is opportunity.....so you take it. As long as it is legal you cant really blame them.
Regarding the above: Investors to decide if the one-week rotation into small caps can last all summer https://www.cnbc.com/2024/07/17/-in...e-week-rotation-into-small-caps-can-last.html (BOLD is my opinion OR what I consider important content) "A week ago, investors were scoffing at the idea that small caps and value stocks might have a genuine summer rally. This has been tried before in the last few years, and it has always ended in tears. One week later, and the trend clearly has some legs. Money has been moving mostly out of tech for more than a week and into small cap and value stocks, which are often industrials, materials and some financials. The S&P 500 Value ETF (IVE), which holds stocks like Berkshire Hathaway, JP Morgan, Exxon Mobil and Johnson & Johnson finally hit a new high after lagging the tech-dominated S&P 500 Growth ETF (IVW) for more than a year. “The BIG question is whether this is truly rotational or just a trade on interest rates (rate cuts = small cap rally is out there as a narrative in multiple venues),” ETF journalist and financial futurist Dave Nadig told me. “If it works for more than a few days, I suspect the [‘fear of missing out’ crowd] will start heaving money into products like the Avantis Small Cap Value ETF (AVUV).” The rather sudden move into small caps and value has already led to outsized moves in a number of ETFs. Small cap and Value ETFs in July SPDR Portfolio S&P 600 Small Cap ETF (SPSM) + 9% SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) + 7% SPDR Portfolio S&P 500 Value ETF (SPYV) + 4% With the S&P up 3.8% this month, these are not blowout moves but outperformance from these sectors has been so rare it is enough to attract momentum traders. But these are the most obvious moves. Unsurprisingly, some investors are seeking to capitalize on the moves in novel ways. How to play this rotation in a single ETF The game is how to play the market, ex-mega caps, in a single investment. One example: the Vanguard Extended Market ETF (VXF). This fund holds the entire stock market, minus the S&P 500. Sounds weird, right? But it might be the perfect ETF for this market. It takes the S&P Total Market Index, which is the entire investible equity universe in the United States (we are talking over 3,000 stocks), and takes out the S&P 500. The resulting portfolio consists of everything from mid-caps to micro-caps and, with an expense ratio of just six basis points (0.06%), is among the cheaper ETFs to play such broad exposure. It’s up about 8% in the last week, to a two-and-a-half-year high. Other little-noticed corners of the market that make similar but not identical calls include the iShares Russell 2500 ETF (SMMD), which tracks the Russell 2000 plus 500 more stocks that go into the microcap space, also up 8% in the last week. Or take the Hilton Small-MidCap Opportunity ETF (SMCO), an actively managed value fund that makes more concentrated bets in the small-cap space (the top 10 stocks are 25% of the fund), up about 6% in the last week. This trend of buying small caps and value is clearly more than a one-day wonder: it’s now a one-week wonder. There’s an old saying among the flow traders: flows aren’t necessarily a signal, meaning you have to be carefully extrapolating short-term movements, particularly in ETFs. Still, what we have seen so far is already attracting the momentum people. Next step: let’s see if it lasts through the summer." MY COMMENT It is obvious that this.....ONE WEEK WONDER....rotation into small and mid cap stocks is trader driven. I doubt that many small investors are out there day trading and momentum trading this market move. If they are it is simply market timing and will not end well. They will never be able to stick with or get ahead of the big boys and in the end they will get hammered when the Wall Street HERD moves away from them in concert. As I have said in the past....I find it interesting that the investing terminology has now been distorted and bastardized to where rotations, bear markets, bull markets, corrections, etc, etc, etc.....now happen in days.......not the months that used to be the norm in the not too long ago....."old days".
As a result of all the above....and the trading driven market overreaction.....there is nothing of interest to me going on today. So....a good day to let the markets run around with their hair on fire. I certainly have nothing to add to this sort of market and will not participate.
Only about 5% of companies have reported now.....perhaps about 8-10% since this data came out. But here is earnings so far. I will note that....once again.....as we have seen for many quarters now....news content and trading activity is making EARNINGS irrelevant in the short term financial media. There is currently ZERO focus on earnings as they come out daily. We continue to act as though these earnings are not happening......by ignoring them. Even when earnings are good.....we ignore and disrespect them based on total focus on........"guidance".....over the "FACT" of actual earnings data. EARNINGS INSIGHT https://advantage.factset.com/hubfs/Website/Resources Section/Research Desk/Earnings Insight/EarningsInsight_071224.pdf "Key Data • With 5% of S&P 500 companies reporting actual results, we are seeing 81% of S&P 500 companies have reporting a positive EPS surprise. At the same time we see 56% of S&P 500 companies reporting a positive revenue surprise. • The blended current earnings growth rate for the S&P 500 is 9.3%. If we end up with a number like this it will be the highest year-over-year earnings growth rate since Q1 2022 (9.4%). • As to guidance for Q3 2024, 2 S&P 500 companies have released negative EPS guidance ......5 S&P 500 companies released positive EPS guidance. • Forward 12-month P/E ratio for the S&P 500 is 21.4. Above the 5-year average.....also..... above the 10-year average." MY COMMENT WAY early in the process....but a good start. If these number hold...it will be an AMAZING quarter for business and investors. ALTHOUGH as I said....the short term trading markets will probably just ignore it all. Unfortunately the financial media is NOW totally focused on the short term. AND now that means....THE ROTATION. Ok....whatever.
