S&P Global Stock Price, News & Analysis

MarketAxess Holdings (Nasdaq: MKTX) and S&P Global Market Intelligence have announced a strategic data partnership to enhance fixed-income market transparency. The collaboration involves integrating S&P Global Bond Reference Data into MarketAxess's data products and incorporating MarketAxess CP+™ real-time pricing into S&P Global's Evaluated Bond Pricing. The partnership combines S&P Global's evaluation of over 1.2 million bonds with MarketAxess CP+'s AI-powered real-time pricing, which provides updates every 15-60 seconds. The data integration is set to begin in the first half of 2025.

The S&P CoreLogic Case-Shiller U.S. National Home Price Index recorded a 4.2% annual gain in August 2024, down from 4.8% in the previous month. The 10-City and 20-City Composites showed annual increases of 6.0% and 5.2% respectively. New York led with the highest annual gain of 8.1%, followed by Las Vegas (7.3%) and Chicago (7.2%). Denver showed the lowest growth at 0.7%.

Month-over-month data showed a -0.1% drop in the non-seasonally adjusted National Index, while seasonally adjusted figures posted a 0.3% increase. Home price growth is showing signs of strain, recording the slowest annual gain since mortgage rates peaked in 2023, with prices decelerating for six consecutive months.

Global M&A activity showed positive momentum in Q3 2024, with deal announcements increasing 0.36% quarter-over-quarter and 7.3% year-over-year, reaching $708.74 billion in total value. This marks the first consecutive quarterly growth since 2020. However, equity issuance faced challenges, with total value dropping nearly 33% to $65.63 billion from Q2 levels and 21% from the previous year. The number of equity issuances fell to 788, down 241 from Q2 2024. Market volatility and upcoming US elections are expected to impact IPO activity, while potential Federal Reserve rate reductions could support M&A financing costs.

S&P Global Mobility forecasts U.S. light vehicle sales of 1.315 million units in October 2024, representing an 11% year-over-year growth. The seasonally adjusted rate (SAAR) is expected to reach 15.9 million units, one of the year's strongest performances. Retail advertised inventory hit a record 3 million units in September, up 4.7% from August. Battery Electric Vehicle (BEV) share has maintained above 8% since June, with September exceeding 9%. The market anticipates new BEV launches, including the Chevrolet Equinox EV and Honda Prologue, despite challenges from high interest rates and vehicle prices.

S&P Global (NYSE: SPGI) has released its third quarter 2024 results. The earnings release and supplemental materials are available at http://investor.spglobal.com/Quarterly-Earnings. The company's senior management will discuss the third quarter results in a conference call scheduled for today, October 24, at 8:30 a.m. EDT. Additional details from the conference call can be accessed on the company's Investor Relations Website. The webcast will be available live and in replay at the same link.

CARFAX reports that an estimated 347,000 vehicles have been damaged by floods during the 2024 hurricane season. Hurricane Milton affected approximately 120,000 vehicles in Florida, while Hurricane Helene impacted 138,000 vehicles across several states. An additional 89,000 vehicles were damaged by smaller summer storms. This marks the most destructive year for vehicle flood damage since Hurricane Ian in 2022, which affected 358,000 vehicles. CARFAX warns that these damaged vehicles might be cleaned up by scammers and sold to unsuspecting buyers, potentially causing mechanical, electrical, health, and safety issues.

Hurricane Helene has potentially damaged up to 138,000 vehicles across six states, according to CARFAX estimates. This adds to the estimated 89,000 vehicles already affected by water damage this year. CARFAX warns that thousands of these flood-damaged cars could soon be on the market, with scammers attempting to sell them both locally and across the country.

The states most impacted by Helene's flood damage to vehicles are:

• Florida: 60,700
• South Carolina: 27,500
• North Carolina: 22,900
• Georgia: 16,800
• Tennessee: 4,900
• Virginia: 4,900

CARFAX advises used car buyers to be vigilant and offers three key steps to avoid purchasing flood-damaged vehicles: use the free CARFAX Flood Check® tool, inspect the car for signs of flooding, and have a trusted mechanic examine the vehicle.

S&P Global (NYSE: SPGI) has announced its new executive leadership team, effective November 1, 2024, when Martina L. Cheung becomes President and CEO. Key appointments include:

- Saugata Saha as President of S&P Global Market Intelligence and Chief Enterprise Data Officer
- Dave Ernsberger and Mark Eramo as co-Presidents of S&P Global Commodity Insights
- Yann Le Pallec as President of S&P Global Ratings
- Dan Draper continuing as CEO of S&P Dow Jones Indices
- Edouard Tavernier continuing as President of S&P Global Mobility
- Eric Aboaf as CFO with expanded responsibilities
- Steve Kemps as Chief Legal Officer with an expanded role
- Sally Moore in a new role as Chief Client Officer
- Girish Ganesan as Chief People Officer

The restructuring aims to drive growth and value for shareholders, customers, and employees.

S&P Global's latest Look Forward research series predicts that emerging markets will contribute about 65% of global economic growth by 2035. The report, titled 'Emerging Markets: A Decisive Decade', highlights key findings:

- Emerging markets are expected to average 4.06% GDP growth through 2035, compared to 1.59% in advanced economies.
- Progress in increasing income levels will be uneven, with median GDP per capita in the largest emerging markets reaching only 31% of developed markets by 2030.
- Public debt is rising in most emerging sovereigns, but they are less vulnerable to global financial shocks than in previous decades.
- Emerging markets must invest in skills and manufacturing automation to compete globally.
- These markets are set to develop nearly 6,000 gigawatts of clean energy projects by 2040, requiring over US$5 trillion in investments.