S&P 500 P / E (CAPE) ratio since 1900.
Archives of “January 2021” month
rssIs the S&P 500 expensive? Not for the Fed.
Thought For A Day
Bubbles are easy to see when a logarithmic scale is not used.
The new financial normal.
The rise of the retail speculator.
US equity close: Mixed picture in US equities
Closing changes for the main markets:
- S&P 500 down 12 points to 3841 (-0.3%)
- DJIA -0.6%
- Nasdaq +0.1%
- Russell 2000 +1.2%
That’s a strange dynamic. It was neither tech nor large caps leading but small caps managed to clock a big gain.
On the week:
- S&P 500 +1.2%
- DJIA 0.0%
- Nasdaq +3.3%
- Russell 2000 +2.1%
Thought For A Day
European equity close: Soft finish leads to negative week
Closing changes in the main European bourses:
- UK FTSE 100 -0.4%
- French CAC -0.7%
- German DAX -0.2%
- Italy MIB -1.6%
- Spain IBEX -1.2%
Talk of a fresh election is weighing on Italian stocks
On the week:
- UK FTSE 100 -0.7%
- French CAC -1.0%
- German DAX +0.6%
- Italy MIB -1.4%
- Spain IBEX -2.5%
Just when it looked like Italian stocks might get some upward momentum, they get cut right back down and are now lower on the year.
Astrazeneca informs EU of vaccine delivery issues
Discontent in the EU is growing
Astrazeneca now sees fewer vaccine deliveries post-approval.
It’s not going to be a good look for the EU when the US, UK and a few other countries reach heard immunity well before them. It’s not like the EU has a lot of positive political capital to start with.
The difference is going to look good for the UK.
In the bigger picture, the growth outlook in the EU is dismal and that’s the longer-term risk.