S&P500 – Valuation Review
The S&P 500 PE ratio is now within historical norms, at 16.6x. It doesn’t make the S&P 500 cheap but fairly valued when using earnings estimates for 2022.
S&P500 Chart Review
The S&P500 bounced off of Thursday’s washout lows with a pivot point low at 3858.
Barrick Gold – Algo Buy
Barrick Gold doubled its quarterly dividend after beating Wall Street estimates for profit on the back of higher gold and copper prices.
Barrick is a sector-leading gold and copper producer, operating mines and projects in 18 countries in North and South America, Africa, Papua New Guinea and Saudi Arabia.
Our portfolio spans the world’s most prolific gold and copper districts and is focused on high-margin, long-life assets.
The company’s shares trade on the New York Stock Exchange under the symbol GOLD, and on the Toronto Stock Exchange under the symbol ABX.
U.S. buybacks
New repurchase announcements by U.S. companies reached over $300 billion in the first quarter, with March showing a strong year over year increase.
Analysts on average expect S&P 500 companies’ earnings to have grown 6.4% in the March quarter
Goldman Sachs in a report last month estimated S&P 500 companies in 2022 will spend $1 trillion buying up their own shares.
U.S. buybacks
New repurchase announcements by U.S. companies reached over $300 billion in the first quarter, with March showing a strong year over year increase.
Analysts on average expect S&P 500 companies’ earnings to have grown 6.4% in the March quarter
Goldman Sachs in a report last month estimated S&P 500 companies in 2022 will spend $1 trillion buying up their own shares.
NASDAQ – Chart Review
NASDAQ
30/4 update:
Big Tech – Earnings Spotlight
Tech giants will be pushed into the spotlight with Apple, Amazon, Microsoft, Alphabet, Meta Platforms, and Intel reporting this week.
Tuesday: Alphebet & Microsoft
Wednesday: Meta Platforms
Thursday: Amazon & Intel
NASDAQ – Chart Review
NASDAQ
Microstrategy – Algo Sell
Microstrategy Inc is under Algo Engine sell conditions. We remain short MSTR on the proviso the price action is below the overhead resistance.
NASDAQ – Chart Review
NASDAQ
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