The Daily Leading Index decreased by 0.80% percentage points to 5.24%. The Daily Coincident Index is at 4.70%. The
Daily Leading Index page on the tab above is updated daily during the week.
Stock prices posted strong gains for the week while bond prices were mostly down. The S&P 500 (SPY) has remained a hair below the overbought territory (the red area in the charts representing 2 standard deviations above the normal 21 day trading range). On Thursday, SPY closed half a cent below the overbought territory and on Friday it closed 1.3 cents below. The charts below show the normal trading ranges for various indices for the last six months. The red (or green) area indicates 2-3 standard deviations above (or below) the normal 21 day trading range. The gray area indicates 1-2 standard deviations above (or below) the normal 21 day trading range.
With 84% of the S&P 500 reporting earnings for last quarter, operating full year earnings are on pace to be up 2.7% year over year. This is down from 12.0% year over year growth last quarter. Operating full year earnings are down 2.9% compared to full year earnings last quarter. The slowdown in earnings is mainly due to the energy sector and the decline in oil prices.
The Leading Indicator for International Developed Markets (EFA) increased by 0.07% percentage points to 1.53% continuing a small two month recovery after falling steadily for ten months. The Leading Indicator for International Emerging Markets (EEM) fell to 2.84%. On the chart below, you can click on the blue and red buttons to see the Leading Indicator growth rate and an ETF for each country.
All information, data and analysis provided by this website is for informational purposes only and is not a recommendation to buy or sell any security. Click here for more details.
These charts have limitations. Economic data is often revised after the fact. The market is forward looking and anticipates future events. The unexpected can and will happen. The market is continually changing. The conditions of the past are different from the present. Past performance is not an indication of future performance.
