1.Bloomberg IPO Index Remains Sluggish

Aug 3, 2017

One index that hasn’t been participating in the market’s rally this year is the Bloomberg IPO Index, which is made up of companies that have IPOd within the past year.  We just wanted to show you a quick chart to highlight the weakness for IPO stock performance.

Below is a chart comparing the performance of the Bloomberg IPO Index to the Nasdaq 100 and the Dow Jones Industrial Average since the bull market began back in March 2009.  As shown, the Tech-heavy Nasdaq 100 is up by far the most at +467%, which might make you assume that IPOs would also be doing pretty well.  But even the Dow 30 has outperformed the IPO Index and by quite a bit at that!  Since the bull market began, the Dow is up 236% on a simple price return basis, while the IPO index brings up the rear in this group with a gain of just 163%.  Over the past year, the IPO index has basically traded completely sideways.

https://www.bespokepremium.com/think-big-blog/bloomberg-ipo-index-remains-sluggish/

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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%.

www.yahoofinance.com

What did the Dow look like at end of Internet bubble?  35% Tech

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First the important stuff…Who the Hell is Dead and Who is Alive in Thrones?

http://www.businessinsider.com/game-of-thrones-who-is-alive-and-dead-in-all-the-major-houses-2017-7/#jon-arryn-dead-51

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

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1.Growth Stocks Dominating 2017

IWF Russell 1000 Growth +17% vs. IWD Value +5%

www.yahoofinance.com

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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.

http://blog.spdrs.com/post/spotting-trends-despite-the-tech-sell-off-the-sector-still-offers-opportunity

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