Net Buys by Size Segment Bofa’s clients maintain their preference for large-caps, while showing less interest in small-caps and mid-caps. Image: BofA Securities

S&P 500 Valuation – Real Market Capitalization to Real GDP Ratio The inflation-adjusted market capitalization to GDP ratio is a valuable tool to evaluate the U.S. stock market’s valuation. The high current ratio implies a…

Valuation – S&P 500 Next-Twelve-Month P/E Ratio The S&P 500 NTM P/E ratio is currently at a high level of 20.9, indicating that investors are willing to pay a relatively high price for each dollar…

Dow Jones Industrial Average Weekly Chart with Moving Averages The technical analysis suggests that the Dow Jones may potentially surpass the 42,600 mark in the near term, with the possibility of further gains towards the…

U.S. Equities Adjusted for Inflation When considering U.S. equity returns adjusted for inflation, currently none of the major indices have surpassed their 2021 highs. Image: Morgan Stanley Research

MOVE Index vs. S&P 500 Equal Weighted Assuming bond volatility continues to decline, will the S&P 500 equal weighted index continue to rise? Image: Deutsche Bank Asset Allocation

S&P 500 Index vs. U.S. Citi Economic Surprise Index The S&P 500 Index and the U.S. Citi Economic Surprise Index are often closely correlated. But right now, bad news is good news, until it’s not.…

S&P 500 Performance After Bear (and Near Bear) Markets End Historically, the S&P 500 has consistently rebounded and performed strongly after bear markets. It has consistently delivered positive returns in the first and second year…

Infrastructure Flows Infrastructure funds have seen their largest inflow since June 2022, signaling a positive trend for investors aiming for long-term returns and portfolio diversification. Image: BofA Global Investment Strategy

YTD Cumulative Gold Flows Despite the upward trajectory of gold prices, the trend of outflows from gold ETFs has persisted. However, bullion and coin purchases have surpassed gold ETF sales and central bank gold purchases…

Valuation – Russell 2000 Forward P/E The April sell-off has brought the U.S. small-cap forward P/E ratio back below the historical average, suggesting a potential undervaluation of small-cap stocks and creating buying opportunities for long-term…