Salient to Investors: The S&P 500 is at 14.9 times reported earnings versus average 16.3 since 1954. Read the full article at http://www.bloomberg.com/news/2012-09-21/s-p-500-snaps-two-week-rally-amid-global-economy-concern.html
READ MORE... →Salient to Investors: Options traders are paying record prices to protect against swings in long-term U.S. Treasuries relative to stocks amid concern inflation will accelerate. The ratio between implied volatility for contracts closest to the iShares Barclays 20+ Year Treasury Bond Fund and the SPDR S&P 500 ETF Trust reached the highest since
READ MORE... →Salient to Investors: The S&P 500 is at 14.9 times reported earnings versus the average 16.3 multiple since 1954. Michael Price at MFP Investors says the U.S. is the most attractive stock market because of the strength of corporate balance sheets, low interest rates and valuations. Price said it’s very early for European stocks. Read the
READ MORE... →Salient to Investors: Richard Hunter at Hargreaves Lansdown said unemployment and housing in the U.S. are the twin drags which need resolving. The S&P 500 at 14.1 times estimated earnings is close to its highest price multiple since the end of 2010. Read the full article at http://www.bloomberg.com/news/2012-09-19/u-s-stock-futures-rise-on-housing-market-outlook.html
READ MORE... →Salient to Investors: Bellwethers FedEx and Intel expect lower quarterly profits because of weakness in worldwide demand. Wall Street expects quarterly profits at large American companies to decline for the first time since 2009. Ethan Harris at Bank of America Merrill Lynch said a lot of the profit gain over the past years came from a
READ MORE... →Salient to Investors: Stephen Dodson at the Bretton Fund said one of the best ways to make money is to be able to look past a bad headline -ask if there is something fundamental that permanently impairs the future earnings ability or is it just a short-term hit. More serous is accounting irregularities. James Potkul at the Bread
READ MORE... →Salient to Investors: The S&Ps 500 Index is closer to a record than any other major stock market. Laszlo Birinyi expects more gains as bearish investors give up excuses of no volume and the belief that earnings aren’t going to be good, and start buying. Birinyi is surprised by the market’s strength and breadth. Byron Wien at Blackstone said everybody
READ MORE... →Salient to Investors: Profits are moving U.S. equity prices the most since the bull market began 3 1/2 years ago. Profits exceeded estimates by 4.5 percent on average in Q2 versus 6.2 percent in Q1. Chris Hyzy of U.S. Trust predicts S&P 500 profits will reach $100 a share in 2012 versus the $103.1 average
READ MORE... →Salient to Investors: September is the only month to drop on average since the 1920s. S&P 500 companies are headed for record earnings in 2012 but Q2 earnings were the weakest in three years. Analysts expect 2012 earnings of $103.18, down from $105.27 at the start of the year: expect 2013 earnings at
READ MORE... →Salient to Investors: Profits are moving U.S. equity prices more than any time since the bull market began 3 1/2 years ago. Bloomberg data show: S&P 500 companies rose or fell an average of 4.4 percent the day after releasing results since July. Daily swings in the index narrowed to 0.4
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