1.Only AAPL From FANG Stocks in Dow Jones….Keeping up in Performance with S&P YTD
S&P vs. Dow Jones YTD….Tech is second largest sector in Dow at almost 17%.
What did the Dow look like at end of Internet bubble? 35% Tech
Topley’s Top 10 – July 27, 2017
First the important stuff…Who the Hell is Dead and Who is Alive in Thrones?
1.Earnings Update…Key to Maintaining the Bull.
Equity Markets: The charts below show the percentage of companies beating earnings and sales estimates, broken out by company size.
Source: Credit Suisse
Topley’s Top 10 – July 26, 2017
1.Growth Stocks Dominating 2017
IWF Russell 1000 Growth +17% vs. IWD Value +5%
Topley’s Top 10 – July 25, 2017
1.Tech Expensive? Double Digits Earnings Growth and Highest Percentage of Names Exceeding Earnings.
Tech sector stocks: Growth at a reasonable price
The tech sector posted double-digit earnings growth in the last two quarters, and it boasts the highest percentage of firms exceeding earnings expectations in the past four quarters among the 11 Global Industry Classification Standard (GICS) sectors.2
Such strong earnings growth momentum is expected to continue through 2017, evidenced by the rising earnings estimates shown in the chart below. The global economic environment is driving the sector’s growth prospects, as some of the headwinds the sector faced last year have turned into tailwinds. Since the tech sector has more foreign sales exposure than other sectors, it is more likely to benefit from the weaker US dollar and improving global growth we have seen this year.3
Source: Bloomberg Finance L.P., as of 6/27/2017. EPS estimates are based on consensus analyst estimates compiled by FactSet.
Topley’s Top 10 – July 24, 2017
1.Zero Inflation Showing Up in System….The Betting Line on Another Rate Rise Falls Below Even Money.
Rates: The market-implied probability of a third Fed rate hike this year dipped below 40%.
