Equity Sector Flows Money continues to pour into industrials, energy and materials, underscoring the ongoing tilt toward cyclical plays. Image: J.P. Morgan Equity Derivatives Strategy

S&P 500 Index Returns Past 10 Years (May – October) May-October is often seen as the weaker stretch for the S&P 500, but the track record tells a different story. Over the past decade, the…

Different Market Sentiment Indicators Market sentiment has climbed back to pre-war levels, with risk appetite improving, volatility easing, and flows shifting decisively into riskier assets. The mood is improving, but not yet euphoric. Image: Goldman…

Indexed Returns of AI-Related Portfolios vs. Equal-Weight S&P 500 The AI rally is still being driven by infrastructure winners, with chip giants, data center builders and cloud platforms cashing in while software and productivity names…

S&P 500 Performance Since Start of the Year AI is no longer just a buzzword lifting mega-cap names, it is actively driving earnings growth and boosting productivity across corporate America. Since the start of the…

U.S. Tech Sector Share Buyback Announcements There’s no sign of a pause in U.S. tech buybacks, as strong earnings keep the pipeline active. That’s a tailwind for shareholders, and as long as profits hold up,…

Probability of S&P 500 Drawdown / Rally The rally has made U.S. equities a tougher trade. Upside now looks constrained, while the risk of a pullback is growing amid stretched valuations and a weakening macro…

S&P 500 Index Performance in Year +1 After Three Consecutive >=+20% Gains Following a powerful two-year run, the S&P 500 could bottom in the fall as markets test the new Fed chair, before pushing toward…

S&P 500 Returns Following Major Geopolitical Events History shows the same script in over 20 major events since WWII: markets snap back quicker than feared, and those who hold their nerve often win. Panic usually…

Distribution of S&P 500 Annual Returns Since 1928, double-digit annual losses in the S&P 500 have been the exception, not the rule, occurring only 12 times. Today, with record earnings, elevated margins, and sustained AI…

Valuations – 12-Month Forward P/E Multiple – MSCI Regions, STOXX 600 and S&P 500 Markets may have pulled back, but valuations are still elevated worldwide. Strong earnings are doing the work, and as long as…