Posted by: Howard Silverblatt on May 9, 2008
While there is no insurance on any charged or slimed down bets, there is a chance that the Financials could post negative earnings this quarter, which would be their second in a row.
Energy, which now represents 14.3% of the market value of the S&P 500 (a record high), accounts for 24.8% of the Q1 operating earnings, compared to 13.6% for Q1 2007 (10.09% of the market value); Financials contributed 29.65% last year (21.63% of the value then, 16.74% now). I’ve had to add digits to my formula when calculating future growth rates.
As far as the neck-n-neck heated public current race goes, it appears that we are near an end, but it’s not over yet. Currently milk is selling for $3.89 a gallon vs. $3.61 a gallon for regular gas. While Oil has the momentum, $126.20 high set today, Milk’s got that $4 finish line in site.