USA Stock Fair Value Report July, 2018
Overvaluation pressures moved slightly upward back to the low-twenties while Large and MidCap market returns have continued on their lackluster path. U.S. AllCap return, year-to-date has moved to a positive 2.26% which is an improvement from last month primarily due to SmallCap stocks. LargeCap has been a drag to overall performance with only a 1.56% gain in 2018. Value LargeCap remained negative for the year at (3.60%) one of the worst performing market segments. All three market capitalization segments, Large, Mid and SmallCap, are in cautionary territory above 120% Fv.
Stock Consideration Change Report
Many Buy Considerations moved on to Hold as values increased from previous undervalued levels. Buy Considerations down to 13% of the stock universe.
Stock Fair Value Changes
New Fair Values for: Dr. Pepper Snapple, FedEx, Goldman Sachs, Humana, Micron Technology, Public Service Enterprises and SVB Financial.
Economic: USA: Consumer Credit – Forecast 2018-2019
This is an update of our Economic Forecast on Consumer Credit. Our focus in this report is on consumer credit expectations through December 2019.
Economic: USA: Consumer Credit – Default Rates
Currently, the index is portraying a consumer that has debt under control and manageable, but slightly moving sideways to upward. The largest increase is in bank card debt. The composite index is at 0.89 in May which is 0.03 points lower than last month, but 0.03 points higher than this time last year. Mortgage defaults are also lower, year-over-year at 0.66. Auto loans have increased by 0.08 points from last year and 0.17 points from 2 years ago, but also dropped from last month by 0.06 points to 0.93.