Market Capitalization of the S&P 493 as Share of Index Total

Market Capitalization of the S&P 493 as Share of Index Total The 493 smallest stocks in the S&P 500 now account for just 67% of the index’s market capitalization, a record low. This reflects a trend where a few large companies dominate, raising concerns about market concentration. 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 seven largest stocks in the S&P 500 index account for 33% of its total market capitalization. While this high concentration doesn’t necessarily predict market downturns, it can potentially lead to increased volatility. Image: Goldman Sachs Global Investment Research

Global Market Capitalization of All Equities

Global Market Capitalization of All Equities With the United States dominating 67% of the global equity market, it seems the rest of the world is just there to enjoy the spectacle—complete with popcorn! Image: Goldman Sachs Global Investment Research

Market Capitalization of the Largest Stock Relative to the 75th Percentile Stock

Market Capitalization of the Largest Stock Relative to the 75th Percentile Stock The concentration of the U.S. equity market is currently at historically high levels, nearing its most concentrated state in a century, driven by the dominance of a few mega-cap tech companies. Image: Goldman Sachs Global Investment Research

Valuation – Market Capitalization of Stock Market / M2 Money Supply

Valuation – Market Capitalization of Stock Market / M2 Money Supply The current high market capitalization of U.S. equities relative to M2 suggests that investors are anticipating very optimistic future earnings and a stable economic outlook. Image: Gavekal, Macrobond

Total Cryptocurrency Market Capitalization

Total Cryptocurrency Market Capitalization The cryptocurrency market has witnessed significant growth recently, with its total market capitalization approaching US$4 trillion. Image: Gavekal, Macrobond

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

Short Interest as % of Market Capitalization S&P 500 Median Median short interest in the S&P 500 has dropped to 1.8%, a relatively low figure indicating that market participants are generally optimistic or, at least, not notably bearish about the index’s future performance. Image: Goldman Sachs Global Investment Research

S&P 500 Index Market Capitalization as a Percent of World GDP

S&P 500 Index Market Capitalization as a Percent of World GDP The S&P 500 has seen its market capitalization rise to levels that approach 50% of the world’s GDP, highlighting the significant role of U.S. companies in the world economy. Image: Morgan Stanley Wealth Management

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

Corporate Client Buybacks as a % of S&P 500 Market Capitalization BofA’s corporate clients are currently engaging in significant stock buyback activities, marking an all-time high. This trend is generally perceived as a positive indicator for the broader market. Image: BofA Securities