Dividend income is an important source of income. In 1Q16, it increased 1.3 percent year-over-year to a seasonally adjusted annual rate of $874.3 billion, down from $876.9 billion in the prior quarter. Dividends made up 5.6 percent of U.S. personal … Continued
A week ago last Friday, U.S. stocks opened lower reacting to less-than-expected rise in April’s non-farm payroll. As the session progressed, bids showed up, as traders began to price in lesser odds of a rate hike in June. Turns out … Continued
In early April, the S&P 500 (2080.73) is rejected by a July 2015 declining trend line. After a subsequent slight pullback, the index reenergizes itself and goes for that resistance again. Last Thursday, it succeeds (Chart 1). But is the … Continued
U.S. stocks look vulnerable here. The only question is that of duration and magnitude. Here is why. Off the February 11th intra-day low through the April 1st high, the S&P 500 large cap index rallied nearly 15 percent (Chart 1). … Continued
Dividends are an important source of income for U.S. households. In 4Q15, they came in at a seasonally adjusted annual rate of $877.1 billion. On a four-quarter rolling average basis, personal dividend income was $868.2 billion in that quarter – … Continued
Last year, with the bull market in its seventh year, a June 19th post sought to find out where several valuation metrics stood. The conclusion was that they were in uncharted territory. With three more quarters of data since, a … Continued
U.S. corporate earnings have been in serious deceleration. This is no news. They have been decelerating for a while now. Operating earnings of S&P 500 companies peaked at $29.60 in 3Q14, and have declined for five straight quarters annually. Chart … Continued
“When the facts change, I change my mind. What do you do, sir?” The above remark is often attributed to John Maynard Keynes, the British economist, although some dispute it. Regardless who said it, it is a nice quote. More … Continued
Arguably, if U.S. stocks followed crude oil or economic data, they probably would be a lot lower. Operating earnings of S&P 500 companies peaked at $29.60 in 3Q14, and have been decelerating since. With 474 companies having reported 4Q15 (as … Continued
U.S. stocks began 2016 on the wrong foot. That is an understatement. In fact, major indices peaked intra-day on December 29th (2015). Using that high, the S&P 500 large cap index through the intra-day low on January 20th lost 13 … Continued