The correlation between market returns and price to earnings ratio (PE) is almost zero over the past 20 years, according to Citi US equity strategy director Drew Pettit. The S&P 500 is currently trading at a PE ratio of 22, which is in the 92nd percentile for the last 20 years.
Citi's equity strategy team remains optimistic about stocks, despite this valuation. They predict the index to close the year at 5,100.
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Pop in Freight Rates Reverberates Through the Global Oil MarketThe recent pop in freight rates is having a significant impact on the global oil market. As shipping costs rise, it becomes more expensive to transport oil from one location to another, leading to higher prices for consumers. This increase in transportation costs is reverberating throughout the oil market, affecting both supply and demand.
منبع: BNNBloomberg - 🏆 83. / 50 ادامه مطلب »
Fireweed Metals: Lack of Quality Development Projects Driving Zinc MarketCanadian mining company Fireweed Metals discusses the lack of quality development projects in the zinc market. The company has two projects in Yukon and one in Northwest Territories, with road access and funding from the Yukon and Canadian governments.
منبع: KitcoNewsNOW - 🏆 13. / 78 ادامه مطلب »
European Stocks Bounce After Worst Weekly Drop in Three MonthsEuropean stocks rebounded after experiencing their worst weekly decline in three months. The buy-side spending on equity trading and research has reached its lowest level in a decade. Saudi Arabia's wealth fund has joined the emerging market rush to tap into the bond market. The value of video site Rumble has increased by $400 million following a deal with Barstool. Gas station owner Sunoco is set to acquire NuStar Energy for $7.
منبع: BNNBloomberg - 🏆 83. / 50 ادامه مطلب »