We're returning to the cutting edge of the physics that describes how stock prices behave today, as we look backwards and forwards in time to sort out why the U.S. stock market is behaving as it is.
First, let's cover what's going on with the fundamental driver of stock prices: their underlying dividends per share. Our first chart shows what the dividend futures contracts reported by IndexArb indicate that investors are currently expecting to be paid out by S&P 500 companies in 2013:
- New solution to border crisis: Send U.S. officials to Honduras to give kids refugee status? Allahpundit Jul 24, 2014
- Boehner accuses White House of sabotaging Veterans Affairs bill Noah Rothman Jul 24, 2014
- NFL suspends Ray Rice for two games in domestic-assault case Ed Morrissey Jul 24, 2014
- Great news from Hillary: The Russian reset worked Allahpundit Jul 24, 2014
- Thursday TEMS: Duane Patterson, Daniel Garza, Mike McFadden Ed Morrissey Jul 24, 2014
- FEC Chairman sounds alarm to Hot Air: There’s a ‘move afoot to constrict press freedoms’ Noah Rothman Jul 24, 2014