Your E-Mail Address:

(It's completely free!)
Sample Charts
Sample #1 ]
Sample #2 ]
Sample #3 ]

Privacy ]
Tell a Friend ]
Suggest a Chart ]
Comments ]

Dogs of the Dow ]
Top Dog Brokers ]
Chart of the Day
Today's chart compares S&P 500 earnings with the capacity utilization rate. Since 1970, capacity utilization has bottomed (and peaked) 6 to 15 months before earnings. Recently, however, earnings have soared while capacity utilization has merely inched its way up. Why? Some have voiced concern over the quality of earnings (i.e. AIG) as a similar divergence occurred in 1999-2016. Some believe that the recent surge in earnings is due in part to the “carry trade.” The carry trade refers to financial institutions borrowing heavily at low short-term rates and then loaning out that same money at higher long-term rates. Another school of thought is that a significant number of US companies are outsourcing to low cost countries (i.e. China), which is driving up profits at the expense of US manufacturers. Stay tuned...

- S&P 500 earnings are 'as reported' trailing 12-month earnings.
- Capacity utilization refers to the percentage of total US industrial capacity that is being used at a given point in time.
- For more on earnings and what it means for the stock market, go to Chart of the Day Plus.

Source - Federal Reserve Board
Rate today's Chart of the Day
Excellent    5    4    3    2    1    No good
By voting every day you help us get you the charts you want to see.

Quote of the Day
"Managers that always promise to 'make the numbers' will at some point be tempted to make up the numbers." - Warren Buffett

Events of the Day
April 15, 2005 - Personal income taxes due (US)
April 18, 2005 - Boston Marathon
April 22, 2005 - Earth Day
April 23, 2005 - NFL Draft begins (ends April 24th) - Passover (1st day)

Mailing List Info
Chart of the Day is FREE to anyone who subscribes.

-- To subscribe, simply type in your email address at the top left of this page.
-- To unsubscribe, simply fill in our unsubscribe form.
-- To change your email address, first subscribe with your new email address and then unsubscribe your old email address (as described above).

Chart of the Day provides this mailing list to subscribers without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.

©1999-2016 Chart of the Day - All rights reserved