October 26, 2022
Market Performance (YTD)
Source: YCharts
Disclaimer: Past performance is no guarantee of future performance
S&P Home price index fell 1.32% month/month. Year/year prices are still up 13% – but housing dynamics have changed with higher mortgage rates. pic.twitter.com/FP8kwZ9LaV
— Kathy Jones (@KathyJones) October 25, 2022
US Home Prices (Case-Shiller) MoM% Change — Table: {ECAN<Go>} pic.twitter.com/lDx5FXVsGR
— Michael McDonough (@M_McDonough) October 25, 2022
When do #stocks bottom for the cycle?
When leading economic indicators (LEI) bottom.
LEIs currently -1.45% YoY & at this trend hit -10% YoY (when LEIs often bottom) in 7-8 months. Trends can change, but a way to look at #cycle dynamics. @Conferenceboard @FactSet @MichaelKantro pic.twitter.com/UrHb788tOs
— Matthew Miskin, CFA (@matthew_miskin) October 25, 2022
"The US economic downturn gathered significant momentum in October, while confidence in the outlook also deteriorated sharply." @SPGlobalPMI https://t.co/c0aOAkfx3j pic.twitter.com/UmROUVUP5t
— Sam Ro 📈 (@SamRo) October 24, 2022
With ~20% of S&P 500 cos. reported thus far, earnings are 5.4% above consensus estimates. Services sectors doing a better job of beating than goods sectors. Still so early though and this is a BIG earnings week. pic.twitter.com/zSmLUOMmi4
— Liz Young (@LizYoungStrat) October 24, 2022
With 24% of companies reported, S&P 500 GAAP earnings are down 2.7% year-over-year, the 2nd quarter in row of negative YoY growth. $SPX pic.twitter.com/I7r5GVftGz
— Charlie Bilello (@charliebilello) October 22, 2022
With a decline of 82% from its all-time high, KWEB is in a larger drawdown than the Nasdaq from 2000 to 2002. https://t.co/jnzcbqZ37v pic.twitter.com/eIiYfHPlW1
— Bespoke (@bespokeinvest) October 24, 2022
A stunning chart by FT! pic.twitter.com/8otngO3kKh
— Shanghai Macro Strategist (@ShanghaiMacro) October 22, 2022
encouraging trends. The European gas futures are down by 70% and the average temperature in Germany is higher than normal. @tomkeene @FerroTV @lisaabramowicz1 pic.twitter.com/qx8cF33C9X
— Global_Macro (@Marcomadness2) October 25, 2022
Disclosure
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