Short Interest as % of Market Capitalization S&P 500 Median

Short Interest as % of Market Capitalization S&P 500 Median Despite the rise in the median short interest to 1.8%, the level remains relatively low, indicating that market participants hold a generally positive or cautiously optimistic view of the index’s future performance. Image: Goldman Sachs Global Investment Research

Global Stock Market Capitalization

Market Capitalization Betting against America has never been a wise choice. Can investors expect the U.S. equity market to maintain its superior performance relative to the European and Asian equity markets? Image: Goldman Sachs Global Investment Research

S&P 500 Valuation – Real Market Capitalization to Real GDP Ratio

S&P 500 Valuation – Real Market Capitalization to Real GDP Ratio The inflation-adjusted market capitalization to GDP ratio is a useful metric for assessing the valuation of the U.S. stock market. The current elevated ratio suggests a potential overvaluation. Image: Real Investment Advice

S&P 500 Buybacks as a Percentage of Market Capitalization

S&P 500 Buybacks Investors generally consider the persistent robustness of S&P 500 buybacks as a positive sign, as they have the potential to create sustainable value for shareholders. Image: Deutsche Bank Asset Allocation

Median S&P 500 Stock Short Interest as % of Market Capitalization

Median S&P 500 Stock Short Interest as % of Market Capitalization The S&P 500’s median short interest level remains low, suggesting that market participants are generally optimistic, or at least, not strongly bearish about the future performance of the S&P 500. Image: Goldman Sachs Global Investment Research

Seven Largest Companies as Share of S&P 500 Total Market Capitalization

Seven Largest Companies as Share of S&P 500 Total Market Capitalization The high concentration of the seven largest stocks in the S&P 500 has raised concerns regarding diversification and market stability. If these stocks were to underperform, potential risks could emerge. Image: Goldman Sachs Global Investment Research

Corporate Client Buybacks as a % of S&P 500 Market Capitalization

Corporate Client Buybacks as a % of S&P 500 Market Capitalization The stock buyback activity among BofA’s corporate clients in 4Q23 is currently trending at its highest level since 2019, which is widely seen as a positive sign for the market. Image: BofA Securities

Top 5 Stocks as % of S&P 500 Market Capitalization

Top 5 Stocks as % of S&P 500 Market Capitalization The S&P 500 remains more concentrated in the five largest stocks than during the dotcom bubble, posing potential risks if these stocks underperform and raising concerns about diversification and market stability. Image: Morgan Stanley Wealth Management