) scheduled to report their quarterly results on 5/22/24 after the closing bell, earnings season has likely been extended for another week.The forward 4-quarter estimate slipped a little this week to $252.93 from last week’s $252.99, and vs the $243.98 that started the year.
The return data is sourced from Morningstar, and I wish we could get 20, 25, and 30-year returns as well.) which is updated monthly, showing the 23-year annual return for the S&P 500 being just over 7%, and bond asset classes reflecting the horrid drawdown and returns since the Fed started raising the fed funds rate in March, ’22.)
NVDA’s revenue estimate progression is similar. If you’re a momentum investor, you love these numbers. JPMorgan broke out this week, above it’s previous $200 high. JPM did it in a very quiet fashion too as Amazon is trading below it’s all-time-high too: I watch these levels as the indices make new all-time-highs since it gives a relative strength perspective.The aspect of this equity market rally that is surprising is that it lacks any of the frenzied trading we saw in the late 1990’s as well as late as in late 2017, early 2018 , and then again in 2020 – 2021 with SPAC’s and bitcoin and crypto.
It doesn’t seem to get much press, but there is a definite “broadening” in the market action to some out-of-favor sectors. That’s probably a healthy sign.
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