Valuation – Russell 2000 vs. S&P 500
Valuation – Russell 2000 vs. S&P 500 The price to book ratio suggests that the Russell 2000 is cheap relative to the S&P 500. Image: Morgan Stanley Research
Valuation – Russell 2000 vs. S&P 500 The price to book ratio suggests that the Russell 2000 is cheap relative to the S&P 500. Image: Morgan Stanley Research
S&P 500 vs. Gold and Fed Balance Sheet The S&P 500 priced in gold has only retraced 40% of the decline, vs. 62% in fiat money. Image: Fidelity Investments
Forecast – New Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3000 by the end of 2020, and a new mid-year S&P 500 target of 2400. Image: Goldman Sachs Global Investment Research
Conference Board Leading Economic Index (LEI) and S&P 500 This chart suggests that the Conference Board Leading Economic Index doesn’t lead the S&P 500 price performance. Image: Charles Schwab
S&P 500 Index vs. Reported EPS This chart shows the very high correlation between stock prices and earnings since 1871 (R² = 0.97) Image: Fidelity Investments
S&P 500 Index vs. Earnings per Share (EPS) Currently, the S&P 500 Index prices in a 15% decline in EPS. A decline of 33% from 2019 seems more appropriate, according to Goldman Sachs. Image: Jeroen Blokland
New Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3200 by the end of 2020, and a new mid-year S&P 500 target of 2000. Image: Goldman Sachs Global Investment Research
Path of the S&P 500 Market in 2020 Goldman Sachs has set a price target of 3200 by the end of 2020, and a mid-year S&P 500 target of 2450 (28% below the market peak). Image: Goldman Sachs Global Investment Research
S&P 500 and VIX/10-Year U.S. Treasury Ratio Chart showing how spikes in the VIX/10-Year U.S. Treasury ratio result in lower equity prices. Image: Truist
Forecast: Path of the S&P 500 in 2020 Goldman Sachs sees limited upside for the S&P 500 from current levels and set a price target of 3400 by the end of 2020. Image: Goldman Sachs
S&P 500 Forecast for 2020 Goldman Sachs forecasts a price-target for the S&P 500 at 3400 by year-end 2020, and a downside scenario at 2600 depending on tariffs and the US election result. Image: Goldman Sachs