Statistical Data and Charts of Interest (08 June 2020)
JSE 5-Day Sector Performance
Relative Strength Index (RSI) Readings
Charts Of Interest
The following are charts/data and commentary that have crossed my screen.
GS: The risk to equities from higher corporate tax rates
Presumptive Democratic nominee and former Vice President Joe Biden has proposed partially reversing the 2017 TCJA.According to the Tax Foundation the former Vice President’s plan would raise the statutory federal tax rate on domestic income from 21% to 28%, reversing half of the cut from 35% to 21% instituted by the TCJA. If enacted, this tax reform would reduce our S&P 500 earnings estimate for 2021 by roughly $20 per share, from $170 to $150″
Summer of teenage discontent
“But maybe they can become entrepreneurs instead. Tap into that Cash Mountain and raise a seed round and build stuff….Like go from zero to one….”
Cyclical premium the highest it has been in a long time.
THE V surprise – Citi economic surprise index
We have never seen it this “crazy”.
The V in earnings sentiment
Not Trump Rocket style, but still…
It worked again: buy them all when earnings sentiment troughs…