“Tech is 47% of the index … [A]t an average P/E of 21.5, the Nasdaq is still considerably more expensive than the Dow Jones industrial average, the S&P 500, European stocks, emerging market stocks, and the list goes on and on. … “[T]he Nasdaq Biotech index now trades at P/E of around 50. Meanwhile, many […]
Category Archives: Z-vals
Hiltzik: Be Afraid of Nasdaq 5,000
“The Nasdaq closed Monday at 5,008.10. It’s the index’s first taste of the plus-5,000 stratosphere since those heady days of March 2000, when it topped out (on March 10) at 5,048.62. … “[Is this] the new Nasdaq, nothing like the old? The latter case is what you’ll hear from, well, Nasdaq itself. … The index […]
Mirhaydari: Stock Market Alarm Is Sounding
“Sentiment has rarely been higher … Nothing, it seems, can shake the faith investors have in this market. And that has me worried. … “US economic data is rolling over … with a variety of data points — from factory orders to retail sales and consumer confidence — recently missing to the downside. On Tuesday, […]
Kass: Market’s Reward to Risk Unattractive
“I would gauge the market’s reward to risk as unattractive. To this observer, the market has priced in a smooth and self-sustaining global recovery and has not priced in any number of adverse outcomes (which seem to have a rising probability of occurrence). “While it is impossible to see the future with precision, in broad […]
Crudele: Stocks to Fall in 2014
“With yesterday’s 150-point drop in the Dow Jones industrial average and the nearly 12-point decline in the Standard & Poor’s 500, the indices are now down 5.3 percent and 3.6 percent, respectively, for the month of January. … “The barometer is simple — the stock market usually goes up for the year if the S&P […]
