AUGUST 2013: THE MONTH IN CHARTS

While the MSCI AC world price index moved higher, the MSCI AC world – IBES 12 month forward earnings were flat, with the 12 month forward P/E ratio also in a narrow range. Refresh Chart

In the U.S., the Citigroup economic surprise index leaped into positive territory for the first time since April, indicating that economic releases generally beat the consensus. However, the S&P500 12 month forward earnings forecast showed no such dramatic change.Refresh Chart.

Despite a recent downtrend, Japan is the clear regional earnings momentum winner so far in 2013, with the U.S. in second place, the Far East ex-Japan in third and Europe a trailing fourth. Refresh Chart.

The U.S. equity valuation picture is somewhat brighter than the European outlook. Refresh Chart.

The individual consumer continues to demonstrate buying power, with two of the top three sector valuations. By contrast, financials and energy are bringing up the rear. Refresh Chart.

M&A activity moved higher, but not to the extent that might be indicated by the MSCI World’s gain. Refresh Chart.

There’s been a mini-resurgence of both M&A and IPO but not to the extent suggested by the favorable market conditions (bull equity and no volatility). Refresh Chart.

Investors had to wait a year before Facebook shares finally topped the initial public offering price of $38 per share. Refresh Chart.

Looking at four Internet IPOs, LinkedIn was the clear winner. Facebook and Groupon investors received some cheer, while Zynga continued to trade well under its IPO price. Refresh Chart.

Apple shares traded between the lowest and median analyst price targets. Refresh Chart.

For investors, it all depends on the timing of Apple purchases, while troubles at RIM and Nokia have been well-publicized. Refresh Chart.