S&P 500 Total Return Around Unemployment Troughs Will U.S. equities struggle in the months ahead? Image: Goldman Sachs Global Investment Research

S&P 500 Earnings vs. Fed Funds Historically, Fed rate hikes tend to impact S&P 500 earnings, which is not good news for U.S. stocks. Image: Real Investment Advice

Percentage of Time the U.S. Is in Recession Will the U.S. stock market rise in the 12 months following midterm elections, despite fears of a recession? Image: Deutsche Bank

U.S. Real GDP Growth Recession risks are rising in the United States. Oxford Economics expects U.S. GDP to turn negative in H1 2023. Image: Oxford Economics

Breadth and S&P 500 The persistence of more new lows than new highs does not bode well for the S&P 500. Image: All Star Charts

Consensus Net Income – S&P 500 vs. S&P 500 ex Energy Have U.S. equities fully priced in the risk of recession? Image: Morgan Stanley Research

U.S. Stock Market – Nifty Fifty Price Returns Will the U.S. stock market be “dead” money over the next 10 years? Image: BofA Research Investment Committee

The Presidential Cycle and Average Total Return of the S&P 500 Should investors expect the S&P 500 to rise after midterm elections, despite macro headwinds? Image: Deutsche Bank

Valuation – 60/40 Annualized Returns and S&P 500 CAPE Ratio Historically, peak valuations do not bode well for 60/40 portfolios. Image: BofA Research Investment Committee

Cumulative Change in 10-Year UST Yield Since First Hike Is the peak in U.S. bond yields not far away? Image: J.P. Morgan

Inflation – U.S. CPI Consensus Forecasts Consensus expects U.S. inflation to hit 3.8% in 2023. Image: BofA Global Investment Strategy