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Miami Herald
a day ago
- Business
- Miami Herald
S&P 500 hits all-time high - Now what?
The naysayers were once again proven wrong. Despite an economy in turmoil, an uncertain Fed, and geopolitical unease, the S&P 500 has climbed the proverbial wall of worry and notched a new all-time high, surpassing levels last seen in February before President Trump's tariff announcements sent stocks reeling. The S&P 500's returns have been impressive, gaining over 23% since President Trump switched gears and paused reciprocal tariffs for 90 days on April 9 to hammer out trade deals. Related: Jim Cramer sends strong message on Nvidia stock at all-time highs It's been an even more dramatic run for the technology-heavy Nasdaq Composite. Since its early April low, that index has shot up over 32%, largely on the back of AI powerhouses like Nvidia and Palantir, which have gained 64% and 95% over the same period. The moves will likely have many scratching their heads, wondering what could happen next to the benchmark index. Fortunately, long-time analyst Ryan Detrick, chief strategist of Carson Group, has crunched the numbers to see what the S&P 500 historically has done in the wake of similar record-setting highs. Weiss/Getty Images The lifeblood of stock market returns is revenue and profit growth. The more sales and earnings, the more willing investors are to pay up for shares. Because of this, economic health is key to the S&P 500's performance. If households and businesses are expected to open their wallets more in the future, it's good for business, and that's good for stock market returns. Related: Veteran Tesla bull drops surprising 3-word verdict on robotaxi ride Earlier this year, worries that tariffs would spike inflation, crimping spending, led many to believe we're on the cusp of stagflation (inflation without GDP growth) or an outright recession. Those worries were compounded by the fact that the Federal Reserve hit the brakes on rate cuts this year due to concerns that lower rates alongside tariffs would cause inflation to skyrocket. The concerns haven't fully disappeared, but they've retreated. While US GDP growth in the first quarter was slightly negative, most expect GDP to recover in the second quarter and for full-year GDP to be positive. The Federal Reserve pegs GDP growth at 1.4% this year, and the Atlanta Fed's GDPNow tracking tool suggests second-quarter GDP increased by 3.4%. Of course, the GDPNow measure will change as more data arrives, but it's likely the second quarter numbers will be solid. More Experts Analyst makes bold call on stocks, bonds, and goldTheStreet Stocks & Markets Podcast #8: Common Sense Investing With David MillerVeteran fund manager sends dire message on stocks If so, the US may sidestep a profit-busting economic reckoning, allowing investors to ratchet higher their models for corporate profit. Additionally, the stock market has become more optimistic about the likelihood of Fed rate cuts later this year. Fed Chair Jerome Powell is under intense pressure from President Trump for rate cuts, and a wobbly jobs market could mean that the Fed won't stay sidelined much longer as long as inflation remains in check. In April, core Personal Consumption Expenditures (PCE) inflation, the gauge favored by the Fed, showed prices rose 2.5% from one year ago. That's above the Fed's 2% target but arguably not overly concerning, given that the Fed cut rates by 1% last year when inflation was higher. The S&P 500 may have priced in a lot of the potential upside associated with a healthier-than-expected economy. The S&P 500's price-to-earnings ratio, a key valuation measure used by investors, peaked over 22 in February 2025 when the S&P 500 last made a new high. After retreating to 19 in April, the runup in stock prices has outpaced upward earnings revisions, causing the S&P 500's P/E ratio to swell again. According to FactSet, the benchmark index trades with a forward one-year P/E ratio of nearly 22. Historically, gains in the following year when the S&P 500's P/E ratio has been this high have been harder to come by, with a negative average return from 1971 through 2020. History certainly isn't a guarantee, but Ryan Detrick considered what's happened in the past when stocks have behaved similarly, and his study also suggests lackluster returns are possible from here. "The S&P 500 hasn't hit a new high in more than four months, but that could end any day now," wrote Detrick on X. "Turns out, when it goes between 4-12 months without a new ATH [all-time high] and then hits one, the forward returns are quite muted. Not once up double digits a year later. Hmm." Detrick spotted four prior instances that met his criteria for similarity. The average return one year after notching the new high after not having a new high for between four and twelve months is just 4.4%, significantly below the stock market's average 11%-plus annual return over the past 50 years. The shorter-term returns are potentially more concerning, though. In his study, the average 3-month and 6-month returns for the S&P 500 were negative 5% and negative 1.3%, respectively. Of course, anything can happen. Much will depend on what actually happens with inflation, jobs, the Fed, and trade deals. Still, the data may suggest that investors should temper their outlook, at least for now. It's not all bad news for most investors, though. Remember, stock market weakness can provide a great opportunity to buy the dip on the market or individual stocks. Just ask anyone who bought stocks in April. Related: Legendary fund manager issues stock market prediction as S&P 500 tests all-time highs The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
19-06-2025
- Business
- Yahoo
DWP makes four big changes for single Universal Credit claimants aged 25 and over
The Department for Work and Pensions has announced four big changes for claimants who are single and aged 25 and over. Four million people are set to get a £725 boost with the bump in rates of Universal Credit. The shake-up from the Labour Party government could see millions of households benefit from the hikes. The Universal Credit and Personal Independence Payment Bill, published on Wednesday, June 18, announced changes that will increase the standard Universal Credit allowance above inflation for four years, starting from 2026. Single claimants aged 25 and over, will see their rates increasing by 2.3% in 2026 to 2027 and then 3.1% in 2027 to 2028 and then 4.0% in 2028 to 2029, followed by 4.8% in 2029 to 2030, which is the end of this Parliament. READ MORE: Six-bed HMO plan gets the go-ahead from Solihull planners READ MORE: Handsworth crash victim Muhammad Qasim, 29, was over drink-drive limit and speeding - inquest READ MORE Millions of UK drivers urged to spend £9 before end of June James Watson-O'Neill, chief executive of disability charity Sense, said he was "especially alarmed" by plans to cut the Universal Credit uplift "for those with the greatest barriers to work". "Many of the disabled people and families we support have told us they're frightened, uncertain how they'll afford food, heating, other basic needs without this vital support," he added. The DWP press release boasts that: "The Universal Credit and Personal Independence Payment Bill will provide 13-weeks of additional financial security to existing claimants affected by changes to the PIP daily living component, including those who their lose eligibility to Carers Allowance and the carer's element of Universal Credit. "The 13-week additional protection will give people who will be affected by the changes time to adapt, access new, tailored employment support, and plan for their future once they are reassessed and their entitlement ends. "This transitional cover is one of the most generous ever and more than three times the length of protection provided for the transition from DLA to PIP." It is a: "Bill to make provision to alter the rates of the standard allowance, limited capability for work element and limited capability for work and work-related activity element of universal credit and the rates of income-related employment and support allowance, and to restrict eligibility for the personal independence payment."
Gizmodo
11-06-2025
- Entertainment
- Gizmodo
Sorry If You Already Bought a PlayStation VR2, The Headset With the Best Game Is at a New All-Time Low
If you're a PlayStation 5 owner looking to fully immerse yourself in the world of virtual reality, the PlayStation VR2 is undoubtedly the most polished and accessible VR headset on the market right now. This headset stands out as the preferred choice for gamers who want high-quality VR experiences without the hassle of PC setup or compatibility issues. Of the packages out there, the PlayStation VR2 Horizon Call of The Mountain™ bundle is unbeatable – especially for VR newcomers. This package ships with the headset itself but also comes with Horizon Call of The Mountain, a game that's been dubbed a must-play for anyone starting their PSVR2 journey. Amazon currently offers this pack for the all-time low of $349 which is 13% less than its normal list price of $399. See at Amazon Best Way to Start with VR PlayStation VR2 Horizon Call of The Mountain bundle is offered so affordably that it sells way more than most competitors in terms of value for money: For under $350, you get top-of-the-line VR treatment that is specifically tailored to the PS5 including the newest headset and one of the top-rated VR games out there. This is very appealing considering the technology packed within the PSVR2 as well as the proprietary status of its included games. Technologically, the PlayStation VR2 features high-fidelity OLED displays with a 2000 x 2040 resolution per eye with incredibly sharp visuals and vibrant colors. The 120Hz refresh rate provides silky smooth action, reduced motion sickness and more engaging action in action-packed games. The headset's sophisticated eye tracking makes menu navigation a breeze and can even dynamically adjust the focus of rendering, saving processing power and overall performance. Haptic feedback both from the headset itself and from the Sense controllers included with it adds even more realism so you can feel every blow, every vibration and every reaction to the environment as if you were there. The headset connects to a single USB-C cable and the installation is quick and easy in comparison to some other VR systems that require external sensor use or complex installations. The Sense controllers that come with every PSVR2 package have ergonomics built into them for extended hours of gameplay and feature precise tracking from the integration of motion sensors and adaptive triggers. The Horizon Call of The Mountain game that's included here is the best example of what the PSVR2 can do: This launch title is an adventure set in a stunning world, with excellent graphics, interactive scenery and good gameplay mechanics that take full use of the capabilities of the headset. It's regarded by some as one of the best VR experiences available, so it's a great choice for an introduction to virtual reality for a newcomer. Aside from gaming, PSVR2 is also a great platform for immersive media consumption: From wandering around virtual worlds to viewing 3D films or just appreciating wide-angle vistas, the high-definition display and ergonomic design of the headset make it a delight to wear for long stretches. Its light weight and adjustability of its headband guarantee secure fitment for a broad spectrum of head sizes, while internal ventilation eliminates fogging issues on hot games. This bundle on sale at Amazon delivers an experience that's both accessible and extraordinary, and it's probably one of the best deals available for PS5 owners in 2025. See at Amazon
The Guardian
29-05-2025
- Business
- The Guardian
US firm that tests eligibility for UK disability benefits pays out £10m in dividends
A US contractor that profits from testing whether some people in the UK should receive disability benefits has paid out £10m in dividends to its investors. Maximus, a Virginia-based business, reported a 23% rise in pre-tax profit for its UK arm, from £23.6m to £29.1m, in its financial year to the end of September. Its revenue rose 2%, from £294m to £300m. The company is the biggest provider of functional assessment services, or FAS, for the Department for Work and Pensions. These tests determine a person's level of function and ability to perform everyday tasks. The UK arm of the business paid out £10m in dividends to investors, equivalent to £10,000 per ordinary share, according to accounts filed at Companies House. The company also paid out £10m in dividends to its investors in the 2023 financial year. Maximus secured a five-year contract from the government in 2023 to provide functional assessment services, at an estimated value of £800m over the period, with the option to extend for a further two years. In a green paper published in March, the Department for Work and Pensions said experiences of assessments for the personal independence payment (Pip) were 'not always positive'. The national disability charity Sense said 'nobody should be rewarded for treating disabled people with disrespect'. Tom Marsland, of the charity, said: 'Sense's research found that half of disabled people with complex needs who've been through a benefits assessment found it humiliating, and almost half didn't get the right communication support to properly demonstrate why they need support. 'These statistics are shocking and show a deep-rooted problem with the current assessment process. 'We would like to see the government introduce clear standards to ensure benefits assessments are fair and accessible for disabled people, with no one left feeling like a criminal simply for trying to access the support they need,' he said. 'There should also be financial penalties for assessment providers who fail to provide the right communication support and accessibility measures.' The government is planning to reduce eligibility for Pip and the health component of universal credit. As a result, official figures suggest that 3.2 million people could lose an average of £1,720 a year and 250,000 people could be pushed into relative poverty. Maximus UK is part of a bigger US organisation that is listed in New York with a market value of $4.2bn (£3.1bn). Shares in the business, which also provides administration and services for US programmes such as Medicaid and Medicare, have dropped 12% in the past year. Bruce Caswell, the chief executive of Maximus, was paid a base salary of $886,904 in 2024, with stock awards, incentive plans and other compensation taking his total package to $10.2m. Maximus declined to comment. The government was approached for comment.
Straits Times
20-05-2025
- Health
- Straits Times
AI system for faster detection of coronary artery disease to be trialled at 3 S'pore hospitals
A total of 300 patients across the three institutions will be involved in the trial. ST PHOTO: TARYN NG AI system for faster detection of coronary artery disease to be trialled at 3 S'pore hospitals SINGAPORE – A new artificial intelligence (AI) system which will reduce the time required for a cardiac scan analysis and allow for faster diagnosis of coronary artery disease will be available at three public hospitals here as part of a year-long trial. The Singapore heart lesion analyser (Sense) will be trialled at the National Heart Centre Singapore (NHCS), the National University Hospital and Tan Tock Seng Hospital in the third quarter of 2025. A total of 300 patients across the three institutions will be involved in the trial. Sense will use sophisticated computational capabilities and algorithms to interpret cardiac imaging scans and evaluate the risk of coronary artery disease in under 10 minutes. This is a process which typically requires two to four hours of analysis by radiographers and cardiologists, said Assistant Professor Lohendran Baskaran, senior consultant with the NHCS cardiology department. 'Sometimes it can take longer because doctors are busy doing other things in between all these scans, such as seeing patients in clinic,' said Prof Lohendran. Sense automates this process, analysing CT scans to establish the amount of calcium deposits in the coronary arteries and epicardial adipose tissue – the layer of fat surrounding the heart and major coronary arteries. It has shown between 85 and 99 per cent accuracy so far, Prof Lohendran said, though he noted these results have been from the use of Sense in a controlled environment. The year-long trial of Sense at the three institutions will give a better idea of how accurate the system is in real-world settings, he said. 'Ultimately, all of this has to be reviewed, checked and confirmed by the doctor before taking it any further. This will never override a doctor's position or clinical judgment,' said Prof Lohendran. Sense is being led by the CardioVascular Systems Imaging and Artificial Intelligence ( research laboratory at NHCS, together with A*Star's Institute for Infocomm Research. whose work began in 2021, uses AI to detect and predict heart disease more quickly and accurately. Occupying a 164 sq m space at the NHCS building on Hospital Boulevard, the lab employs AI-powered machine learning software and high-performance graphics processing units (GPUs) for real-time processing of large datasets, to significantly improve the accuracy of disease prediction models. This infrastructure will allow to enhance and strengthen it AI algorithms, using the big data collected and analysed, said co-director and core technical lead Associate Professor Zhong Liang. Sense builds on an earlier project by the AI-driven national platform for CT coronary angiography for clinical and industrial applications (Apollo). Apollo aimed to improve the accuracy and speed of interpreting CT scans using AI. Over four years, it built a database of almost three million images from the CT scans of some 5,000 cardiac patients here, together with comprehensive clinical data. Sense is supported by SingHealth and A*Star's Healthcare Translation Partnership, while Apollo was awarded A*Star's Industry Alignment Fund – Pre-Positioning Programme. The lab's work will help improve understanding of coronary artery disease in Singapore, said Prof Lohendran, who is also director and core clinical lead of Factors such as the severity of disease and what part of the population is likely to have it are still poorly understood, he added. Coronary artery disease is responsible for almost a third of the cardiovascular-related deaths in Singapore. In 2023, 8,311 people here died from cardiovascular disease in the Republic, accounting for about 30 per cent of all deaths that year. Zhaki Abdullah is a correspondent at The Straits Times. He is on the health beat, in addition to occasionally covering science, environmental, tech and Muslim affairs issues. Join ST's WhatsApp Channel and get the latest news and must-reads.
