News about S&P 500

Rolling 60-day correlation between S&P 500 and Bloomberg Commodity Spot Index has slipped further into negative territory pic.twitter.com/CQJghTWbD1

Foreign purchases of U.S. equities have been incredibly volatile over past several years; negative in February (latest data available) but dip wasn’t as severe as in prior months pic.twitter.com/9KZ0ZNAPFQ

Down less than half a percent today for the S&P 500. Given where it opened, this was a nice change from what we were seeing a week ago. Back then, the selling would get heavy as the day wore on.

After the 6% drawdown since March 28, the forward P/E ratio on the S&P 500 has declined from 21.2x to 19.9x. Valuations were high, so this is good to see. Price should decline less than valuations during this correction since earnings estimates are rising 12%. Pass the baton.🧵 pic.twitter.com/wqpo6FIPWV