NASDAQ 100’s price/sales ratio has declined significantly from peak, but comparing current level to pre-pandemic era, it’s still hovering near highest since late 2003/early 2004 #grownostr
Retail auto inventories continue to climb and attempting to maintain comeback … year/year change (orange) has risen to +22.1%, bringing overall level to highest since April 2020 #grownostr
Core capital goods orders now falling relative to shipments, which is consistent with softer demand (and inflation) picture … spread between both series not drastic like in prior recessions, though #grownostr
Stocks off highs of day with Tech only sector seeing a gain; Utilities led to downside and Industrials weaker as well; Tech now in first YTD while Financials continues to see worst performance … small caps under pressure again today but Russell 1000 Value lagged most #grownostr
GDPNow model from @AtlantaFed now has 1Q23 growth at +1.1% (q/q ann.) … consumption’s contribution has eased to +1.9%; change in inventories’ contribution down to -1.7% … residential investment only subtracting marginally from growth (-0.1%) #grownostr
March goods trade deficit at $84.6 billion vs. $90 billion est. & $91.6 billion in prior month … well off low of $125.1 billion in March 2022 
Skills gap erased for services sector (orange) per @RichmondFed survey … however, gap worsened for manufacturing sector (blue) in April
#grownostr 
Consumer surveys split on stock sentiment of late … @UMich survey (blue) showed an uptick in optimism while @Conferenceboard Consumer Confidence Index (orange) showed a move lower 
Consumer surveys split on stock sentiment of late … @UMich survey (blue) showed an uptick in optimism while @Conferenceboard Consumer Confidence Index (orange) showed a move lower
Monthly supply of new single-family homes continued to roll over in March and fell to lowest since March 2022 
Latest update to @Conferenceboard Consumer Confidence Index shows spread between expectations and present situation subcomponents has fallen to lowest (most negative) since March 2001 
S&P 500 Regional Bank Index fell yesterday and closed at lowest since May 2020
[Past performance is no guarantee of future results] 
Thus far, max % drawdown for new single-family home median price edged down to -13.7%, but some has been erased over past couple months … for comparison, max drawdown during GFC exceeded -20% 
Thus far, max % drawdown for new single-family home median price edged down to -13.7%, but some has been erased over past couple months … for comparison, max drawdown during GFC exceeded -20% 
Pace of decline in home prices is easing ... latest update to S&P CoreLogic CS Home Price Index shows 3-month annualized % drop has eased to -0.4% (up from recent trough of -2%)
Within latest Consumer Confidence Index from @Conferenceboard, share expecting better conditions (blue) fell to lowest since 2011 but share expecting worse conditions (orange) hasn’t yet surpassed June 2022 level 
Thru March, M2 money supply -4.1% year/year , decisively worst rate back to at least 1960s
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Weaker day with classic defenives (Cons Staples & utilities ) acting as havens and seeing modest declines; mix of cyclicals and growth-dominated sectors led to downslide…. Russell 1000 value continues to outperform peers MTD but has barely seen YTD gain