S&P Global Inc. - SPGI STOCK NEWS

S&P Dow Jones Indices (S&P DJI) reported that the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index saw a 6.3% annual gain in April 2024, down from 6.5% in the previous month. The 10-City Composite had an 8.0% annual increase, a slight drop from 8.3%. Similarly, the 20-City Composite posted a year-over-year increase of 7.2%, slightly down from 7.5%. Month-over-month, the U.S. National Index increased by 1.2%, the 20-City Composite by 1.36%, and the 10-City Composite by 1.38% before seasonal adjustments. Post-adjustment, the indices showed modest gains. San Diego led with a 10.3% annual increase, followed by New York and Chicago at 9.4% and 8.7%, respectively. The Northeast market has outperformed others for nine consecutive months. Despite hitting new peaks, the growth rate has decelerated compared to earlier months.

CARFAX has been honored as a Best Place to Work for 2024 by both the Washington Post and the St. Louis Post-Dispatch. This marks the 10th time CARFAX has received this accolade from the Washington Post and the third consecutive year from the St. Louis Post-Dispatch. CARFAX's culture focuses on employee well-being, offering perks such as 4-day summer work weeks, a $500 wellness benefit, and career-coaching programs. The awards are based on anonymous feedback from employees, highlighting CARFAX's commitment to a positive work-life balance and career growth opportunities. CARFAX has over 1,300 employees, with more than 120 new hires in 2024.

S&P Global Market Intelligence announced significant updates to its S&P Capital IQ Pro platform on June 20, 2024. The latest enhancements include the addition of over 19.4 million fixed income securities data, comprehensive pricing, and analytics covering government, sovereign, agency, and corporate securities. Additionally, the platform now features GenAI-powered summarization for earnings call transcripts, delivering topic and sentiment-organized summaries. Further improvements include expanded industry-specific data across sectors like banking, energy, and TMT, and an enhanced event calendar syncing capability. These updates underscore S&P's commitment to leveraging new technologies and enhancing user efficiency.

S&P Global Market Intelligence has expanded its Bond Reference Data by incorporating 20 new sustainability-related descriptive data fields. This enhancement covers over 11,000 active Corporate and Sovereign bonds in more than 60 currencies. The dataset now includes key metrics like key performance indicators (KPIs), sustainability performance targets (SPTs), use of proceeds, and sustainable development goals (SDG) alignment, providing more granularity into environmental, social, and governance bonds. The new data will aid investors in making informed decisions, regulatory compliance, and portfolio construction aimed at sustainable investments. This expansion aligns with the growing interest in sustainability projects such as renewable energy and affordable housing. The expanded dataset can be integrated with S&P Global's existing services, offering comprehensive support for financial institutions.

The S&P 500 Q1 2024 buybacks totaled $236.8 billion, up 8.1% from Q4 2023 and 9.9% from Q1 2023. However, the 12-month expenditure to March 2024 was $816.5 billion, a 4.8% decrease from the previous year. Consumer Staples increased spending by 32.7%, while Consumer Discretionary decreased by 44.1%. Information Technology saw a minor uptick of 1.8%, and Health Care surged by 93.5%. The 1% buyback tax reduced Q1 2024 operating earnings by 0.47% and GAAP earnings by 0.54%. EPS impact showed a positive change for the first time in five quarters. Total shareholder returns for Q1 2024 were $388.4 billion, a 4.1% increase from Q4 2023. Despite the 1% tax, buybacks were not significantly impacted.

S&P Global Market Intelligence has announced the launch of RiskGauge™ Desktop, a new solution aimed at enhancing credit risk management for corporations. Combining S&P Capital IQ data, advanced analytics, and an intuitive user interface, RiskGauge Desktop is designed to streamline credit risk assessment workflows across various sectors and geographies. Key features include proprietary scoring methodologies, early warning signals, and comprehensive reports for over 50 million companies. This tool aims to provide credit professionals with actionable insights to mitigate risk and identify new opportunities in a dynamic market environment.

The GEP Global Supply Chain Volatility Index surged into positive territory in May 2024, hitting 0.21 from -0.18 in April, marking the first positive reading since March 2023. This indicates that global supply chains are busier and capacity is being stretched. Major drivers include increased demand for raw materials and components, particularly from Asia, with China, India, and South Korea at the forefront. European and North American markets also saw significant improvements. However, labor shortages are causing order backlogs, which may lead to price pressures. Overall, the outlook for H2 2024 appears promising.

automotiveMastermind has launched Showroom, a tool embedded in its Mastermind technology, aimed at enhancing hyper-personalized consumer experiences for car dealers. Showroom dynamically creates personalized offer websites to capture customer preferences and improve the customer journey. This tool integrates with Mastermind's Predictive Marketing, allowing customers to customize their deals and start the purchasing process online. Showroom is designed to increase engagement, improve attribution, and enhance visibility of purchase intent. The new feature is available to dealer partners using Mastermind, and adds value by integrating with digital retail providers like CarNow and Gubagoo.

A new report from S&P Global Market Intelligence forecasts a 12% decline in U.S. community bank earnings year-over-year in 2024 due to margin pressure and higher credit costs. Despite expectations of a rebound in earnings by 2025 and 2026, community banks will face challenges from high-interest rates and deposit competition. Rate cuts by the Federal Reserve will provide modest relief in late 2024, but substantial decreases are necessary to lower deposit costs significantly. Community bank credit quality is expected to deteriorate in 2024 and continue weakening into 2025 and 2026, driven by higher delinquencies and losses in commercial real estate portfolios. However, this decline poses more of a hit to earnings than a threat to the institutions' safety and soundness.