Dow is up nearly 200 points Monday, yet this chart portends 'carnage'
The doom-and-gloom crew has been drawing lines between the dot-com bubble and the current market climate for a while now. With stocks banging out record highs on a regular basis, those forecasting a collapse can’t catch a break.In that spirit, noted bear Albert Edwards, global strategist at Société Générale, earns our chart of the day with this graph showing how earnings have diverged from the S&P 500 SPX, +0.62% to a degree not seen since, yes, 2000.
Bitcoin BTCUSD, -2.65% exploded over the weekend, breaking through the 10,000 level before pulling back, trading at just over $9,400 on Monday morning. There’s a state of emergency in California after officials on Sunday ordered nearly 200,000 people to evacuate due to multiple wildfires. Power company PG&E PCG, -23.20% cut electricity to millions of residents to prevent more areas from igniting.
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