Ed Yardeni

The Ups & Downs of the S&P 500

Apr 26, 2022 2 min read

While industry analysts are still raising their earnings estimates for this year and next year, investors continue to take the air out of valuation multiples.

Ed Yardeni

Weak Yen & Yuan. Mighty Dollar.

Apr 26, 2022 1 min read

The Bank of Japan (BOJ) is an outlier. While all the other major central banks are turning more hawkish, the BOJ remains extremely dovish. This is causing the yen to dive.

Ed Yardeni

Germany’s Stagflation

Apr 25, 2022 1 min read

Germany is experiencing stagflation: (1) The German IFO business confidence index plunged during March because of the jump in energy prices that resulted from the Russian invasion of Ukraine. Then in April, it rebounded slightly to 86.7 from 84.9 in March. (2) German companies are experiencing more supply-chain problems, and their costs are soaring as a result of the war, which has also raised consumer prices. The German

Ed Yardeni

Do Industry Analysts Anticipate Recessions?

Apr 24, 2022 2 min read

One of our accounts in Luxembourg requested that we determine how well industry analysts’ earnings estimates anticipate recessions. The recent weakness in the S&P 500’s forward P/E has been partly offset by the continued rise of consensus earnings estimates to record highs. Some of these increases probably reflect steady profit margins as companies pass their rising costs through to their selling prices. It’s widely recognized

Ed Yardeni

Is There Enough Fear Yet To Trigger a Rally?

Apr 24, 2022 1 min read paid

Ed Yardeni

US Tech Production Booming

Apr 19, 2022 1 min read

The S&P 500 Information Technology sector and the Communication Services sector are down 13.9% and 14.7% ytd, underperforming the S&P 500, which is down 6.4%. That's mostly because rising interest rates have depressed their valuation multiples and raised fears of a recession. Meanwhile, industry analysts continue to raise their estimates for revenues and earnings for both. Another concern is now that

Ed Yardeni

Sharp Increases in Rent Expected Over the Next Year

Apr 18, 2022 1 min read

The Federal Reserve Bank of NY today released results from its 2022 SCE Housing Survey, which is part of the broader Survey of Consumer Expectations (SCE) and provides information on consumers’ housing-related experiences and expectations.

Ed Yardeni

S&P 500 Performance Since March 8 Bottom

Apr 15, 2022 1 min read paid

Ed Yardeni

Tug of War Between the Bulls and Bears

Apr 14, 2022 2 min read

Why has the stock market held up reasonably well in the face of a more hawkish Fed, more vigilant Bond Vigilantes, a 1970s-style wage-price spiral, depressed consumer and small business confidence, and the war on the eastern front? Consider the following: (1) While the S&P 500's forward P/E is weighed down by both rising inflation and tightening credit conditions, we estimate that there is still

Ed Yardeni

Small Business Owners Experiencing Stagflation

Apr 13, 2022 1 min read paid

Ed Yardeni

Inflation Expectations Jump Off the Chart

Apr 11, 2022 1 min read paid

Ed Yardeni

S&P 500’s Winners & Losers

Apr 10, 2022 1 min read

The S&P 500 is down 5.8% ytd. Under the circumstances--e.g., war in Ukraine, continued supply-chain difficulties, high inflation, Fed in tightening mode, rising bond yields, and recession fears--that's not too bad. However, when we look under the hood, only four of the S&P 500's 11 sectors are up ytd: Energy (43.3%), Utilities (7.5), Consumer Staples (2.3), and

Ed Yardeni

Page 108 of 109