S&P Global Stock Price, News & Analysis

First Mortgage Default Rate Reaches Highest Level Since September 2020

According to the latest data from S&P Dow Jones Indices and Experian, the first mortgage default rate increased by four basis points to 0.42% in July 2022. The composite default rate rose to 0.57%, marking an increase for the eighth consecutive month. Key metropolitan areas such as Miami saw the largest rise at 1.13%, while New York's rate fell to 0.65%. These trends indicate growing risks in consumer credit markets.

Novata has launched SFDR metrics within its ESG reporting platform, aiming to assist financial market participants in meeting European sustainability disclosure regulations. The company is expanding its sales team in Europe to enhance its reach and effectiveness. Backed by notable organizations such as S&P Global (NYSE: SPGI) and Hamilton Lane (NASDAQ: HLNE), Novata's platform simplifies ESG data management, providing tools for data collection and reporting. This initiative responds to increasing regulatory demands for ESG disclosures across private markets.

S&P Global Mobility has appointed Mark Rechtin as the new Executive Director and Executive Editor, effective August 15, 2022. Rechtin, with over 30 years in automotive journalism, will report to Kristen Balasia, focusing on enhancing editorial insights during a transformative industry period. His extensive experience includes leadership roles at Automotive News and MotorTrend. Joe LaFeir, President of Automotive Insights, emphasized Rechtin's ability to analyze competitive market trends, which will enrich client interactions and strengthen S&P Global Mobility's leadership in the automotive data sector.

MACOM Technology Solutions Holdings (MTSI) will replace SailPoint Technologies Holdings (SAIL) in the S&P MidCap 400, effective August 17, 2022. This reflects an acquisition of SailPoint by Thoma Brava, pending final conditions. The change is significant as it highlights MACOM's growing presence in the Information Technology sector, while SAIL's removal may indicate challenges ahead. Market investors will closely monitor these developments as they impact stock performance and market positioning.

automotiveMastermind, part of S&P Global Mobility, announced leadership changes aimed at enhancing products and data operations. Charity Taylor has been appointed to lead the new Enterprise Business Analytics Team, focusing on developing analytical solutions. Aaron Baldwin has been promoted to Chief Product Officer, overseeing product strategy. Michael Eager has been elevated to Chief Revenue Officer, managing go-to-market strategies. These changes are expected to strengthen data leadership and drive innovation, according to CEO Matt Leone.

S&P Global (SPGI) reported a 42% increase in revenue year-over-year, totaling $2.99 billion, largely due to IHS Markit inclusion, although adjusted revenue fell 5% from prior projections. Diluted EPS dropped 13% to $2.86, while GAAP net income rose 22% to $972 million. Operating profit margin decreased 530 basis points to 49.5%, impacted by rising merger costs. The company plans to complete a $12 billion share repurchase program and estimates revenue growth of over 30% for 2022. Investor Day is set for December 1, 2022.

S&P Global Commodity Insights forecasts that Canadian oil sands production will reach 3.5 million barrels per day by 2030, reflecting a 17% increase from current levels. This forecast adjustment acknowledges a 100,000 b/d reduction from previous projections, largely due to investments in decarbonization and a focus on optimizing existing production rather than new projects. While near-term production may rise due to global energy concerns, long-term growth is tempered by investor priorities and pipeline capacity issues.

On July 26, 2022, S&P Dow Jones Indices released the S&P CoreLogic Case-Shiller Indices for May 2022, showing robust home price increases in the U.S. The National Index recorded a 19.7% annual gain, slightly down from the previous 20.6%. The 10-City Composite rose 19.0% and the 20-City Composite increased 20.5%. Notable city gains included Tampa at 36.1%, Miami at 34.0%, and Dallas at 30.8%. Despite these strong results, the ongoing rise in mortgage rates could challenge future price growth.

S&P Global Commodity Insights is set to launch daily Platts price assessments for carbon emissions from Aframax tanker freight on four European routes starting August 1. This initiative aligns with the EU Emissions Trading System (ETS), which mandates that shipowners account for carbon emissions. The new assessments are crucial for shipping sector transparency amid ongoing decarbonization efforts. They will provide insights on the cost of EU Emissions Allowances (EUAs) and integrate existing carbon intensity assessments initiated in October 2021.