Stock Market Briefing:

Daily Indexes
Yardeni Research, Inc.

October 10, 2022

Dr. Edward Yardeni

516-972-7683
eyardeni@yardeni.com

Joe Abbott
732-497-5306
jabbott@yardeni.com

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thinking outside the box

Table Of Contents Table Of Contents
Daily Indexes 1-2
S&P 500 Sectors 3
S&P 400 Sectors 4
S&P 600 Sectors 5
S&P 1500 Sectors 6
S&P 1500/500/400/600 YTD Performance 7
S&P 500 Sector Price Indexes 8-12

October 10, 2022 / Daily Indexes Yardeni Research, Inc.

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 Daily Indexes
Figure 1.
5500 5500
5000 S&P 500 STOCK PRICE INDEX 5000
4500 (ratio scale, daily) 4500
4000 4000
3500 10/10 3500

3000 3000

2500 2500

2000 2000

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S&P 500 (3612.4)
1500 1500
50-dma (3971.3)
200-dma (4162.5)

1000 1000

-16.0% -9.8% -7.7% -5.8% -12.4% -10.2% -6.8% -9.6% -24.0%

(70) (28) (62) (19) (96) (13) (34) (21) (267)
-56.8% -19.4% -9.9% -5.8% -7.4% -13.3% -19.8% -33.9% -5.2%
(517) (157) (60) (34) (27) (100) (95) (32) (32)
500 500
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Note: Corrections are declines of 10% or more, but less than 20%, while minor ones are 5%-10% (all in blue shades). Bear markets are declines of 20%
or more (in red shades). Number of calendar days in parentheses.
Source: Standard & Poor’s.

Figure 2.
24 24
S&P 500 FORWARD P/E RATIO* Latest (15.2)
22
(daily) 22

20 20

18 18

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16 16
10/10

14 14

12 12

10 10

-16.0% -9.8% -7.7% -5.8% -12.4% -10.2% -6.8% -9.6% -24.0%

8 (70) (28) (62) (19) (96) (13) (34) (21) (267) 8
-56.8% -19.4% -9.9% -5.8% -7.4% -13.3% -19.8% -33.9% -5.2%
(517) (157) (60) (34) (27) (100) (95) (32) (32)
6 6
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

* Time-weighted average of consensus S&P 500 operating earnings estimates for current year and next year.
Note: Numbers above time line show corrections (declines of 10% or more in the S&P 500) and minor selloffs (declines of 5%-10%). Bear markets are
declines of 20% or more. Number of calendar days in parentheses
Source: Standard & Poor’s.

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 Daily Indexes
Figure 3.
5750 5750
4950 S&P 500/400/600 STOCK PRICE INDEXES 4950
4150 (daily, ratio scale) 4150
10/7
3350 3350

2550 2550

1750 1750

950 950

S&P Stock Price Indexes

S&P 500 (3639.66)
S&P 400 (2266.89)
S&P 600 (1093.73)

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150 150
99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24

Source: Standard & Poor’s.

Figure 4.
5 5
STYLE RATIOS: MARKET WEIGHTED PRICE INDEX
(daily)
4 4

3 3
S&P 500/400 (1.61)

2 2
10/7

1 1
8 8

7 7

6 6
S&P 500/600 (3.33)
5 5

4 4
10/7
3 3
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2 2
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

Source: Standard & Poor’s.

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 S&P 500 Sectors
Figure 5.
2100 1100
1900 CONSUMER DISCRETIONARY INDUSTRIALS
1700 900
1500
1300 S&P 500 Sector 10/10 700
1100
Price Indexes 10/10
900 500
700
500 300
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

950 4200
CONSUMER STAPLES INFORMATION TECHNOLOGY 3800
850 3400
3000
750 2600
10/10
10/10 2200
650
1800
550 1400
1000
450 600
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

800 650
700 ENERGY MATERIALS 600
10/10 550
600
500
500 10/10 450
400 400
350
300
300
200 250
100 200
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

700 400
650 375
FINANCIALS COMMUNICATION SERVICES 350
600
325
550 300
500 10/10 275
450 250
400 225
200
350 175
300 10/10
150
250 125
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

1900 400
1700 HEALTH CARE UTILITIES 375
350
1500 325
10/10 10/10
1300 300
1100 275
250
900 225
yardeni.com
700 200
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

Source: Standard & Poor’s and Haver Analytics.

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 S&P 400 Sectors
Figure 6.
1900
2200
CONSUMER DISCRETIONARY INDUSTRIALS 1700
1800 1500
10/10 1300
1400 S&P 400 Sector
Price Indexes 1100
1000 10/10
900
600 700
200 500
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

2600 6800
2400 CONSUMER STAPLES INFORMATION TECHNOLOGY 6000
2200 5200
10/10
2000 4400
1800 10/10 3600
1600 2800
1400 2000
1200 1200
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

800 800
700 ENERGY MATERIALS 700
600
500 600
10/10
400 500
300 10/10
400
200
100 300
0 200
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

1400 400
1300 FINANCIALS COMMUNICATION SERVICES 350
1200
10/10 300
1100
1000 250
900 200
800
150
700 10/10
600 100
500 50
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

3400 700
3000 HEALTH CARE UTILITIES 650
600
2600
10/10 550
2200
10/10 500
1800
450
1400 400
yardeni.com
1000 350
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

Source: Haver Analytics and Standard & Poor’s.

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 S&P 600 Sectors
Figure 7.
1800 1800
CONSUMER DISCRETIONARY INDUSTRIALS 1600
1400
10/10 1400
S&P 600 Sector
1000 Price Indexes 1200

10/10 1000
600
800
200 600
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

2800 2000
2600 CONSUMER STAPLES INFORMATION TECHNOLOGY
2400 1600
2200 10/10
2000 1200
1800 10/10
1600 800
1400
1200 400
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

1200 750
ENERGY MATERIALS 700
1000 650
800 10/10 600
550
600 500
450
400 10/10 400
200 350
300
0 250
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

1500 6.0
FINANCIALS COMMUNICATION SERVICES 5.5
1300
5.0
1100 4.5
10/10 4.0
900 3.5
10/10 3.0
700
2.5
500 2.0
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

5200 1250
4800 HEALTH CARE UTILITIES 1150
4400
4000 1050
10/10
3600 950
3200 10/10
2800 850
2400 750
2000
1600 650
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1200 550
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

Source: Haver Analytics and Standard & Poor’s.

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 S&P 1500 Sectors
Figure 8.
1900 1050
1700 CONSUMER DISCRETIONARY INDUSTRIALS 950
1500 850
10/10
1300 S&P 1500 Sector 750
1100 Price Indexes 650
10/10
900 550
700 450
500 350
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

975 4250
925 CONSUMER STAPLES INFORMATION TECHNOLOGY 3850
875 3450
825 3050
775
10/10 2650
725
10/10 2250
675
625 1850
575 1450
525 1050
475 650
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

800 725
700 ENERGY MATERIALS
625
600 10/10
500 525
10/10
400 425
300
325
200
100 225
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

775 350
725 FINANCIALS COMMUNICATION SERVICES
675
625 275
575 10/10
525
475
425 200
375 10/10
325
275 125
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

1900 475
1700 HEALTH CARE UTILITIES
425
1500 10/10
10/10 375
1300
325
1100
900 275
yardeni.com
700 225
2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024

Source: Haver Analytics and Standard & Poor’s.

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 S&P 1500/500/400/600 YTD Performance
Figure 9.
80
S&P 1500 80
S&P 500 LargeCap 80
S&P 400 MidCap 80
S&P 600 SmallCap
60 60 60 60
40 40 40 40
20 20 20 20
All Sectors 0 0 0 0
-20 -23.9 -20 -24.2 -20 -20.4 -20 -22.0
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Consumer 0 0 0 0
Discretionary -20 -20 -20 -20
-31.4 -31.5 -29.0 -33.5
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Consumer 0 0 0 0
Staples -13.5 -13.6 -9.1 -14.0
-20 -20 -20 -20
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 44.9 40 45.8 40 40
32.9 36.9
20 20 20 20
Energy 0 0 0 0
-20 -20 -20 -20
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Financials 0 0 0 0
-10.7
-20 -20.6 -20 -21.4 -20 -20 -19.7
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Health Care 0 0 0 0
-20 -14.4 -20 -13.6 -20 -20
-24.4 -27.5
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Industrials 0 0 0 0
-20 -19.1 -20 -19.2 -20 -18.5 -20 -17.3
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Information 0 0 0 0
Technology -20 -20 -20 -26.6 -20 -26.9
-31.7 -31.9
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Materials 0 0 0 0
-16.3 -12.1
-20 -21.8 -20 -23.1 -20 -20
-40 -40 -40 -40
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Communication 0 0 0 0
Services -20 -20 -20 -23.3 -20
-40 -38.6 -40 -38.8 -40 -40 -32.3
-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
80 2022 80 2022 80 2022 80 2022
60 60 60 60
40 40 40 40
20 20 20 20
Utilities 0 0 0 0
-11.1 -10.8 -13.9 -14.4
-20 -20 -20 -20
-40 -40 -40 -40
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-60 -60 -60 -60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022 2022 2022 2022
Source: Standard & Poor’s.

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 S&P 500 Sector Price Indexes
Figure 10.
1800 1800
S&P CONSUMER DISCRETIONARY
1600 1600

1400 1400
Consumer Discretionary
S&P 500
1200 S&P 400 1200
S&P 600 10/10

1000 1000

800 800

600 600

400 400

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200 200
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

Figure 11.
2800 2800
S&P CONSUMER STAPLES
2600 2600

2400 2400
Consumer Staples
S&P 500
2200 2200
S&P 400
2000
S&P 600 2000

1800 1800

1600 1600

1400 1400

1200 1200

1000 1000

800 800
10/10
600 600
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400 400
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

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 S&P 500 Sector Price Indexes
Figure 12.
1000 1000
S&P ENERGY
900 900
Energy
S&P 500
800 S&P 400 800
S&P 600
700 700

10/10
600 600

500 500

400 400

300 300

200 200

100 100

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0 0
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

Figure 13.
1450 1450
S&P FINANCIALS
1350 1350

1250 1250

1150 1150

1050 1050

950 950

850 850
Financials
750 S&P 500 750
S&P 400
650 S&P 600 650

550 550
10/10
450 450

350 350
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250 250
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

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 S&P 500 Sector Price Indexes
Figure 14.
5100 5100
S&P HEALTH CARE
4700 4700

4300 4300

3900 3900
Health Care
3500 S&P 500 3500
S&P 400
3100 S&P 600 3100

2700 2700

2300 2300

1900 1900

1500 1500
10/10

1100 1100

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700 700
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

Figure 15.
1800 1800
S&P INDUSTRIALS

1600 1600
Industrials
S&P 500
S&P 400
1400 S&P 600 1400

1200 1200

1000 1000

800 800
10/10

600 600

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400 400
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

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 S&P 500 Sector Price Indexes
Figure 16.
5300 5300
S&P INFORMATION TECHNOLOGY SECTORS
4800 4800

4300 Information Technology 4300

S&P 500
S&P 400
3800 S&P 600 3800

3300 3300

2800 2800

2300 2300
10/10
1800 1800

1300 1300

800 800

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300 300
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

Figure 17.
800 800
S&P MATERIALS

700 700
Materials
S&P 500
S&P 400
600
S&P 600 600

500 500

10/10
400 400

300 300

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200 200
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

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 S&P 500 Sector Price Indexes
Figure 18.
350 350
S&P COMMUNICATION SERVICES

300 300
Communication Services
S&P 500
S&P 400
S&P 600
250 (times 50 for scaling) 250

200 200

10/10
150 150

yardeni.com
100 100
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

Figure 19.
1200 1200
S&P UTILITIES

1000 1000

800 800
Utilities
S&P 500
S&P 400
S&P 600
600 600

400 400

10/10

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200 200
2016 2017 2018 2019 2020 2021 2022 2023

Source: Standard & Poor’s.

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