Chart Collection for Morning Briefing February 7, 1 Dr. Edward Yardeni 1-97-73 eyardeni@ Mali Quintana --1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
3 3 Figure 1. S&P REVENUES PER SHARE (dollars, quarterly) 3 3 3 3 Latest (39.1) 1 1 1 1 1 1 1 9 93 9 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 Source: Standard & Poor s. 1 1 Figure. S&P REVENUES PER SHARE (yearly percent change) 1 - - - -1 Latest (9.) - -1 - - 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 Source: Standard & Poor s. - - Page 3 / February 7, 1 / Chart Collection for Morning Briefing www.
1 Figure 3. S&P AGGREGATE REVENUES & NOMINAL GDP (yearly percent change) 1 - - - - -1 - - S&P Aggregate Revenues* (.) Nominal GDP (.) 9 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19-1 - - * Revenues are derived by multiplying S&P revenues per share by the S&P divisor for each quarter. Source: Bureau of the Census and Standard & Poor s. -1-1 -1 - - - - - 1 1 1 1 Figure. S&P REVENUES PER SHARE & US TRADE-WEIGHTED DOLLAR (yearly percent change) JP Morgan Nominal Broad Effective Exchange Rate (inverted scale) (-7.) S&P Revenues (using dollars per share) (9.) 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 /3 1 - - -1 - - * Argentina, Australia, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, France, Germany, Hong Kong, Hungary, Japan, India, Indonesia, Israel, Italy, Korea, Kuwait, Malaysia, Mexico, Morocco, New Zealand, Nigeria, Norway, Pakistan, Panama, Peru, Philippines, Poland, Romania, Russia Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, United Kingdom, Ukraine, Uruguay, Venezuela, Vietnam, and United States. Source: JP Morgan and Standard & Poor s. Page / February 7, 1 / Chart Collection for Morning Briefing www.
1 13 1 1 9 Figure. YRI GLOBAL GROWTH BAROMETER vs JP MORGAN TRADE-WEIGHTED DOLLAR Global Growth Barometer* JP Morgan Nominal Broad Effective Exchange Rate** / /3 13 1 1 7 7 9 11 1 13 1 1 1 17 1 19 9 1 13 * Average of nearby price of Brent crude oil and CRB raw industrials spot price index times and divided by. ** Argentina, Australia, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Denmark, Ecuador, Egypt, France, Germany, Hong Kong, Hungary, Japan, India, Indonesia, Israel, Italy, Korea, Kuwait, Malaysia, Mexico, Morocco, New Zealand, Nigeria, Norway, Pakistan, Panama, Peru, Philippines, Poland, Romania, Russia Saudi Arabia, Singapore, South Africa, Spain, Sweden, Switzerland, Taiwan, Thailand, Turkey, United Kingdom, Ukraine, Uruguay, Venezuela, Vietnam, and United States.Source: The Commodity Research Bureau and JP Morgan Stanley Capital International. Figure. S&P REVENUES PER SHARE: ACTUAL (S&P quarterly data) & FORWARD (TR weekly data) (dollars) /1 1 13 1 1 11 11 9 9 7 Revenues Per Share Forward* Actual (quarterly, annualized, nsa) 7 9 93 9 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 * Time-weighted average of consensus estimates for current year and next year. Monthly through December, then weekly. Source: Standard & Poor s (for actual revenues) and Thomson Reuters I/B/E/S (for forward revenues). Page / February 7, 1 / Chart Collection for Morning Briefing www.
3 Figure 7. S&P OPERATING EARNINGS PER SHARE (Thomson Reuters data) (dollars, quarterly) 3 3 Latest (3.1) 3 1 1 93 9 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 Source: Thomson Reuters I/B/E/S. 7 3 - - -3 - - Figure. S&P OPERATING EARNINGS PER SHARE (Thomson Reuters data)* (yearly percent change) Latest (1.3) 199 199 1997 199 1999 1 3 7 9 11 1 13 1 1 1 17 1 19 7 3 - - -3 - - * Due to extreme values, - s -.% is capped at -% and -9 s +19.9% is capped at %. Source: Thomson Reuters I/B/E/S. Page / February 7, 1 / Chart Collection for Morning Briefing www.
3 Figure 9. S&P OPERATING EPS: S&P data vs. Thomson Reuters data (dollars, quarterly) 3 3 Thomson Reuters Operating (3.) S&P Operating (3.13) 3 1 1-9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19-3 S&P OPERATING EPS (Thomson Reuters data) vs. REPORTED EPS (S&P data) (dollars) 3 - Thomson Reuters Operating (3.) - - S&P Reported (3.) - -3 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19-3 3 S&P OPERATING EPS (S&P data) vs. REPORTED EPS (S&P data) (dollars) 3 - S&P Operating (3.13) - - S&P Reported (3.) - -3 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 Source: Standard & Poor s and Thomson Reuters I/B/E/S. -3 Page 7 / February 7, 1 / Chart Collection for Morning Briefing www.
19 17 Figure. S&P OPERATING EARNINGS PER SHARE: FORWARD & ACTUAL (Thomson Reuters data) (dollars per share) Earnings Per Share /1 19 17 1 Forward Earnings* (pushed -weeks ahead) (1.3) 1 13 Operating Earnings (Q sum) (133.1) 13 1 1 9 9 7 7 3 3 7 9 9 91 9 93 9 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 * Time-weighted average of consensus estimates for current year and next year. Monthly through December, then weekly. Source: Standard & Poor s until -1993, then Thomson Reuters I/B/E/S. 1 Figure 11. S&P OPERATING PROFIT MARGIN (S&P vs. Thomson Reuters earnings data) (percent, quarterly) 1 S&P Operating Profit Margin Thomson Reuters data (11.) S&P data (.) 9 9 9 97 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 Source: Standard & Poor s (revenues and operating EPS) and Thomson Reuters I/B/E/S (operating EPS). Page / February 7, 1 / Chart Collection for Morning Briefing www.
3 Figure 1. S&P INDUSTRIALS 1 3 Revenues Per Share 9 7 1 1 13 1 9 7 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 CONSUMER DISCRETIONARY 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 INFORMATION TECHNOLOGY 3 7 3 1 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 CONSUMER STAPLES 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 MATERIALS 7 3 17 1 1 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 ENERGY 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 REAL ESTATE 9 7 7 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 FINANCIALS 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 TELECOMMUNICATION SERVICES 3 3 3 Includes Real Estate through Q-1 3 1 13 7 1 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 HEALTH CARE 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 UTILITIES 9 99 1 3 7 9 11 1 13 1 1 1 17 1 19 1 3 3 Source: Standard & Poor s. Page 9 / February 7, 1 / Chart Collection for Morning Briefing www.
3 3 Figure 13. S&P Operating EPS INDUSTRIALS 9 7 1 9 7 3 7 9 11 1 13 1 1 1 17 1 19 CONSUMER DISCRETIONARY 9 11 1 13 1 1 1 17 1 19 CONSUMER STAPLES 9 11 1 13 1 1 1 17 1 19 INFORMATION TECHNOLOGY 9 11 1 13 1 1 1 17 1 19 MATERIALS 3 1 7 3 1 9 11 1 13 1 1 1 17 1 19 ENERGY 9 11 1 13 1 1 1 17 1 19 REAL ESTATE... - 9 11 1 13 1 1 1 17 1 19 FINANCIALS 9 11 1 13 1 1 1 17 1 19 TELECOMMUNICATION SERVICES. 1 1 1 9 11 1 13 1 1 1 17 1 19 HEALTH CARE 9 11 1 13 1 1 1 17 1 19 9 11 1 13 1 1 1 17 1 19 UTILITIES 9 11 1 13 1 1 1 17 1 19 3 Source: Thomson Reuters I/B/E/S. Page / February 7, 1 / Chart Collection for Morning Briefing www.
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