September 23, 2021

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15,000 points on NASDACO. New records in America

Krzysztof Colani2021-08-24 22:05Senior Analyst at Bankier.pl

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2021-08-24 22:05

15,000 points on NASDACO.  New records in America
15,000 points on NASDACO.  New records in America
come in. Lucas Jackson / / Reuters

Tuesday’s session on Wall Street set new records for the S&P 500 and Nasdaq. The New York Stock Exchange has been in a frenzy for months, investors are buying stocks at record high prices, not looking at ridiculously high valuations.

Relationship of the average earnings of the last 10 years for the S&P500 index (tzw. Schiller B) just passed 39. So it’s already much more expensive than it was at the height of the boom in the fall of 1929, and not much cheaper than it was in the winter of 2000, when the Internet bubble was on its way to an end. And this is just one of many Charts of the stock market madness I countered on Wall Street.

Relationship of average earnings from the past 10 years for the S&P500 (the so-called Shiller PE). ()

Tuesday’s session didn’t bring anything out of the ordinary – after all, only this year the S&P500 has improved its historical record in more than 50 sessions. This was also the case this time. After an increase of 0.15%, the S&P500 index registered at 4,486.23 points. So the 4500 point level is at your fingertips. However, we started 2021 at 3,765 points. And with growth at this pace, the S&P500 will reach 5,000 points in just over half a year.

The Nasdaq Composite has not fared much worse, only rising this year by more than 16%. On Tuesday, the Nasdaq broke the 15,000-point barrier for the first time in history, up 0.52%. The Dow Jones industrial average was slightly weaker, growing just 0.09% and not improving the latest record.

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Now the attention of investors must turn To speeches by central bankers at the annual symposium in Jackson Hole. The Fed Chairman’s speech on Friday may be of key importance. Jerome Powell may suggest limiting the asset purchase (QE) program, which has been speculating in the markets for several months.

Meanwhile, the strong Wall Street boom continues in the US housing market. According to the US Bureau of Censorship in July The average price of new homes in the United States reached a record high of 390.5 thousand. dollar. This is 18.4% more than last year.

NS

Source:
Krzysztof Colani

Krzysztof Colani

Senior Analyst at Bankier.pl

Financial Market and Economics Analyst. His interests include the Warsaw Stock Exchange and the foreign markets: New York, London and Frankfurt. He specializes in precious metals markets and monitors the policies of the most important central banks. Analyzes the impact of the economic situation on stocks, currency pairs and commodity prices. He is the three-time winner of the prestigious Grabsky for economic journalists in the categories of online journalism (2010) and monetary policy and financial stability (2018 and 2019). He was also awarded the 2016 Capital Market Champion by the Retail Investors Association. Tel: 697660684

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