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
Stephen Rybka

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
Stephen Rybka

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

April brings good news

Apr 6, 2022 1 min read paid

Ed Yardeni

Are oil companies price gouging us?

Apr 1, 2022 1 min read paid

Senator Elizabeth Warren thinks so. Earlier this month, she tweeted that she gets "supply and demand." She also acknowledged that "Putin's war is causing gas prices to rise." But she still accused oil companies of gouging as evidenced by their rising profit margins. So she wants to impose a windfall profits tax on the oil companies. President Jimmy Carter did that with the Crude

Ed Yardeni

New records in reach

Mar 30, 2022 2 min read paid

The S&P 500 is on the verge of making new record highs. It is only 3.4% below its January 3 record high as of March 29! The fundamentals remain very strong with both S&P 500 forward revenues and earnings at record highs. I expected that. I didn't expect that the forward P/E would pop back up to 19.9 on March 29

Ed Yardeni

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