Equity Market Concentration – Market Capitalization of 10 Largest Companies as Share of S&P 500 Total The S&P 500 is increasingly top-heavy: its 10 largest stocks make up 39% of the index and 37% of…
S&P 500 – 12 Months After Each Midterm Election U.S. stocks have historically posted double-digit gains in the 12 months after midterm elections. But with the market so concentrated, another positive post-midterm year, the 22nd…
Cumulative S&P 500 EPS Growth Surprise During the Earnings Season S&P 500 earnings are still beating estimates in Q3 2026, but the size of upside surprises has cooled after a stronger first half. Image: Goldman…
CTAs Exposure to Bonds CTAs remain wary of rates risk, with bond exposure at the 10th percentile. Treasuries have rallied sharply, but they have covered only a fraction of their shorts. More short covering could…
Discretionary Positioning vs. Earning Growth Discretionary investors remain cautious despite strong earnings growth. But with estimates still moving higher and macro risks contained, cash may soon find its way into stocks. Image: Deutsche Bank Asset…
Median Quarterly S&P 500 Return Based on Real Economic Growth Environment Slower economic growth hasn’t stopped stocks from climbing. When earnings rise, the S&P 500 has often pushed higher, though at a more measured pace.…
Small Cap Equity Positioning Small-cap positioning is still very light, sitting in the 22nd percentile. If sentiment shifts, there’s room for a meaningful pickup in risk-taking. Image: Deutsche Bank Asset Allocation
Change in Foreign Holdings of U.S. Equities Foreign investors now hold roughly $10 in U.S. equities for every $1 they have bought. The buying that built the position was modest. The position itself is not.…
S&P 500 Index and Technical Score The S&P 500’s technical reading fell to 30.67, back in oversold territory. A bounce is possible, but until sentiment improves, caution is the better bet. Image: Real Investment Advice
Various S&P 500 Index 6-Month Returns From November through April, Wall Street gets a seasonal tailwind: the market’s so-called “best six months.” Holiday shopping, year-end bonus season and tax considerations help push stocks higher. Image:…
MSCI AC World EPS Earnings estimates for 2027 and 2028 are holding firm, with analysts still seeing room for upgrades. Image: Goldman Sachs Global Investment Research