A recent client question: Q: “Have you done any work on the multiple of the S&P 500 and the growth rate and margin/profitability of the S&P 500? Many strategists say margins are peaking for...

Outlook for 2025: Mill Street Research does not make “official” calendar year forecasts as we always follow the evolving messages from our objective indicators throughout the year, but in response to client interest, below...

The Mill Street Research Implied Growth Model, described in more detail in a March post, shows higher long-run earnings growth expectations built into market prices. Given current conditions and the composition of the S&P...

We maintain our long-standing very cautious stance on China, despite some signs of more positive earnings indicator readings caused by a handful of mega-cap Chinese stocks (that we call the “Magnificent 5”). Outside of...

Are fundamentals being rewarded in stock selection in the post-COVID period? Based on the results of our MAER stock selection model, the answer has been “yes” since the end of the “COVID year” of...

A key part of Mill Street’s work is tracking US and global equity sector and industry trends using a mix of bottom-up (aggregated company data) and top-down (macro data) inputs. The Technology sector naturally...