- In the S&P 500 index there are just 20 stocks that had a higher dividend yield than the yield on the 2-year treasury which was at 4.45%*. This is a massive difference compared to just 2 years ago when there were 382 stocks in the S&P 500 with higher yields than the 0.11% the 2-year treasury was yielding at the time.
- With a gain of 8.5% in the first 25 days of trading in 2023, the S&P 500 has had its 6th best start to a year since 1953. There have been 16 other years where the S&P gained 5% or more in the first 25 days, and the median rest of-year performance was 17.6% with gains occurring 15 out of 16 times.
- The average monthly payment on a new car has soared to a record $777, nearly double the average payment from 2019. That accounts for nearly 1/6th of the median after-tax income for US households.
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Shares of fast-growing companies are leading the 2023 stock rally. The last time growth stocks were beating value stocks by as large of a margin was in 2020. Companies leading the rally include Apple (up 18%), Tesla (up 69%), and Nvidia (up 46%).
*Figures based on: MFS - "Beyond the News" data from 2/7/23
MFS - "Beyond the News"
Businessweek - "New Car Prices are so High that Only Rich Americans can Afford Them"
WSJ - "‘Growth Stocks Are Trumping Value Once Again"
Economic Calendar
Monday:
None scheduled
Tuesday:
S&P flash U.S. services PMI (Feb), S&P flash U.S. manufacturing PMI (Feb), Existing home sales (Jan)
Wednesday:
FOMC minutes of Feb.1 meeting
Thursday:
Initial jobless claims (Feb), GDP (Q4 (first revision)), Atlanta Fed President Bostic speaks
Friday:
Consumer spending (nominal) (Jan), Personal income (nominal) (Jan), PCE index (Jan), Core PCE index (Jan), Core PCE (year-over-year) (Jan), New home sales (Jan), Consumer sentiment (final) (Feb)
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