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Dear Chart of the Day Fan:
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Substack page.
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Income-oriented investors might be better off with U.S. utility stocks than high-yield bonds these days. That’s because the dividend yield on the S&P 500 Utilities Index has exceeded the yield on the Bloomberg Barclays Ba High-Yield Index since December, according to data compiled by Bloomberg. The swing to utility stocks from near-investment-grade debt was the first since calculations of S&P’s industry gauge began in 1989. Friday’s yield gap favored utility shares by more than 0.4 percentage point for the first time.
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Substack page.
Thanks for your interest. It’s appreciated. -
Smaller U.S. companies “staged a major comeback” with stock investors, Callum Thomas, head of research at Topdown Charts Ltd., wrote in a Twitter post Thursday. Thomas cited the weighting of the S&P SmallCap 600 Index’s components within the S&P Composite 1500, which also includes the S&P 500 and MidCap 400. The small-cap stocks reached a 2.7% weight last week for the first time since November 2019, according to data compiled by Bloomberg. Last May, their share dropped to 2.1% the lowest level in four decades, according to Thomas.
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Substack page.
Thanks for your interest. It’s appreciated. -
Netflix Inc. raised the possibility of share repurchases at a time when companies most actively pursuing them are back in favor. The streaming-video company said in an investor letter Tuesday that it “will explore returning cash to shareholders through ongoing stock buybacks,” as it did between 2007 and 2011. Netflix’s move followed an eight-month rally in the S&P 500 Buyback Index relative to the S&P 500. The ratio between these gauges climbed 15% through Wednesday after reaching its lowest level since January 2010, according to data compiled by Bloo
Dear Chart of the Day Fan:
Here’s my chart for today. I’ll talk about it shortly after 3:30 p.m. Eastern (12:30 p.m. Pacific) on the Bloomberg Businessweek radio show. Also, I’ll present my Stock of the Day just after 4:05 p.m. (1:05 p.m.) on the radio and later on social media. You can hear me on Bloomberg Radio or see me at Bloomberg Global News on YouTube. Earlier charts are on my Substack page.
Thanks for your interest. It’s appreciated. -
Earnings have been anything but a prerequisite for U.S. technology stocks to surge in the past 10 months. The performance of a Goldman Sachs Group Inc. index of unprofitable companies shows as much. The gauge increased almost fivefold from a record low on March 18 through last Wednesday, when it set a record. Goldman’s indicator also climbed five times as much as the S&P 500 Technology Index during the period. “These are extraordinary moves that are likely unsustainable at this point,” Jonathan Krinsky, Bay Crest Partners L