Ed Yardeni

Homebuilders Slammed As Sales Fall, Costs Soar

May 24, 2022 1 min read

There's lots of stagflation in the new home market. During April, new home sales (registered when contracts are signed) dropped 16.6% m/m and the months' supply of new homes jumped to 9.0 from 6.9 in March. Here's more: (1) The m/m sales declines were widespread in the South (-19.8%), Midwest (-15.1), West (-13.8), and Northeast (-5.9)

Ed Yardeni

A Short History Of Falling P/Es

May 23, 2022 1 min read paid

In the past, there have been dives in the S&P 500’s valuation multiple similar to the one so far this year: (1) The valuation deterioration in the early 1970s was associated with the devaluation of the dollar by President Nixon and the first of the decade’s two energy price shocks. Along the way, Franklin National blew up. Inflation was a protracted problem throughout the 1970s. (2)

Ed Yardeni

Dr Ed's Weekly Webinar 5/23/22

May 23, 2022 1 min read

Today, we zero in on stock market bears—why they’ve been wrong for 13 years (quantitative easing), why they’re right currently (quantitative tightening), and why we believe their outlook is too pessimistic. Below is exclusive early access to Dr Ed's Weekly Webinar for paid members. This post and video will open to the public on Wednesday. Primarily, we don’t expect an imminent recession because conditions

Ed Yardeni

The Economic Week Ahead 5/23/22

May 22, 2022 1 min read

The week ahead will provide us with two more regional business surveys for May conducted by the Federal Reserve Banks of Richmond and KC.

Ed Yardeni

Seeking Safe Havens In S&P 500 Sectors & Industries

May 20, 2022 1 min read paid

It's hard to find too many places to hide from the unrelenting selloff in the S&P 500 since the start of the year.

Ed Yardeni

Forward P/Es Falling Faster Than Forward Earnings Are Rising

May 20, 2022 1 min read

The S&P 500/400/600 stock price indexes are down 18.1%, 16.1%, and 16.4% ytd through today's close.

Ed Yardeni

Comparative Tech Wrecks

May 19, 2022 1 min read paid

Are we experiencing Tech Wreck 2.0 similar to Tech Wreck 1.0 of the early 2000s? That's unlikely. The S&P 500 IT sector's market-cap share soared to a record high of 32.9% during March 2000.

Ed Yardeni

DEEP DIVE: The Fed's Quantitative Tightening: Run(off) for the Hills?

May 19, 2022 6 min read paid

In recent conversations with our accounts, we have been hearing more concern about the second round of quantitative tightening (QT2), which starts next month.