U.S. Real GDP Growth Goldman Sachs expects the U.S. economy to stay on steady footing, projecting 2.1% growth in both 2026 and 2027, in line with consensus, helped by a labor market that remains resilient. Image: Goldman Sachs Global Investment Research
Mega-Cap Growth & Tech Positioning Investors are piling back into mega-cap growth and tech, driving positioning up to the 79th percentile. Image: Deutsche Bank Asset Allocation
Consensus EPS Growth Estimates Wall Street is betting on a strong earnings tailwind, with S&P 500 profits forecast to rise 25% in 2026 and 16% in 2027. Small caps could do even better, with 39% growth this year and 42% next year. Image: Goldman Sachs Global Investment Research
Magnificent Seven Stocks vs. S&P 500 – Cumulative Revenue Growth Since 2016 Since 2016, Mag 7 revenue has climbed 375%, versus 95% for the S&P 500. Earnings tell the same story. A flow-driven pullback can shake the tape, but it doesn’t change the decade-long compounding trend. Image: Real Investment Advice
Hyperscaler Quarterly Capex Growth Goldman Sachs thinks Wall Street is too conservative on 2027 hyperscaler capex, with the AI spending boom likely to run hotter for longer. Image: Goldman Sachs Global Investment Research
Earnings Growth – Mag 7 and S&P 500 ex-Mag 7 The Magnificent Seven are on pace for 38% earnings growth this year, versus 19% for the rest of the S&P 500. With tech momentum still running hot, betting against them looks like a tough trade. Image: J.P. Morgan Asset Management
S&P 500 Company Guidance vs. Consensus Growth Expectations Into Earnings Seasons Consensus S&P 500 earnings growth heading into Q2 stands at 26.2%, a record for a pre-reporting period outside recession recoveries, driven in large part by tech strength. Image: Deutsche Bank Asset Allocation
Revision to Consensus Hyperscaler Year/Year Capex Growth 2027 capex is still a moving target for hyperscalers. They look more likely to overshoot than undershoot on AI spending, which could keep AI-driven inflation stickier for longer. Image: Goldman Sachs Global Investment Research
S&P 500 Consensus Earnings Growth Expectations Analysts have rarely been this bullish on S&P 500 earnings heading into Q2 2026, a level typically seen only after recessions or at the start of a new cycle. Image: Deutsche Bank Asset Allocation
S&P 500 YoY EPS Growth The median S&P 500 stock is expected to report 9% EPS growth in Q2 2026, a far cry from the 22% EPS growth forecast for the aggregate index. Image: Goldman Sachs Global Investment Research
Performance of S&P 500 Megacap Growth Stocks vs. Rest of S&P 500 Mega-cap growth and tech stocks relative to the rest of the S&P 500 have slipped from the top of their long-term trend channel to the middle, a classic unwind of crowded positioning rather than the start of a new regime. Image: Deutsche Bank…