Copper to Gold Ratio vs. U.S. ISM Manufacturing A falling copper/gold ratio points to slower U.S. economic growth, reflecting investor caution toward the near-term economic environment. Image: Bloomberg
Average 1-Day Price Reaction to Reported Sales and EPS This season, U.S. stocks are reacting with amplified negative price movements to Q2 earnings misses compared to typical patterns, due to elevated market expectations, valuation concerns,…
Global Risk Sentiment Indicators Sentiment indicators suggest a “Goldilocks” scenario for risk appetite—investors are moderately optimistic, cautiously taking on risk without exuberance. Image: TS Lombard
Fed Funds Rate and Fed Funds Futures Deutsche Bank forecasts that the Fed will cut rates by 25 bps in December 2025, followed by two further cuts of the same magnitude in Q1 2026, reducing…
Earnings Sentiment – S&P 500, STOXX 600, Topix, MSCI EM, MSCI World Rising analysts’ sentiment on S&P 500 earnings reflects strong corporate results, positive surprises, and a favorable macroeconomic backdrop, all pointing to potential near-term…
Market Pricing of Fed Rate Cuts The market currently prices in a greater likelihood of Fed rate cuts than suggested by the Summary of Economic Projections, especially under Powell’s successor as Fed Chair, with a…
Performance – S&P 500 vs. Stoxx Europe 600 The April 2025 correction caused short-term volatility and uncertainty but created a buying opportunity in U.S. growth and tech stocks, resetting market sentiment and driving a strong…
Earnings Surprises of S&P 500 Companies This quarter’s earnings season demonstrates continued resilience in corporate profitability. 63% of S&P 500 companies have beaten Q2 earnings estimates by at least 1 stdev., while 10% have missed…
The 2009 S&P 500 Bull Market Compared With This One Since October 2022, the current S&P 500 bull market has mirrored early patterns of the 2009–2020 bull market, experiencing a mid-cycle correction typical of its…
Hyperscaler Capex by Company The current AI-driven capital expenditure boom among U.S. hyperscalers represents a once-in-a-generation shift in infrastructure investment, with spending projected to reach $497 billion in 2027. Image: Goldman Sachs Global Investment Research
S&P 500 Quarterly Earnings Growth Earnings growth for the S&P 500 accelerated from 8.7% in Q1 to 9.9% in Q2. While the overall trend indicates robust earnings growth, the gains are unevenly distributed across sectors…