2020 Consensus Earnings Expectations over the Past 12 Months While earnings expectations across the world have been revised downward, the S&P 500 is rising as nations ease lockdowns. Image: Goldman Sachs Global Investment Research

U.S. Jobless Claims Jobless claims are falling, but remain very high. Image: Pantheon Macroeconomics

Valuation – Global: Gold Mining vs. Broad Market Chart suggesting that gold miners have upside, but a pause is needed first. Image: BCA Research

Is Tech in a Bubble? – Global Equity Market, Technology with Shiller PE This chart suggests that on every metric, global tech is much healthier than it was during the internet bubble. Image: Pictet Asset…

Coronavirus Crisis and Reopening the U.S. Economy This map shows which states are reopening amid the coronavirus pandemic. Image: Bloomberg

Fiscal and Monetary Policy – S&P 500 Real Total Return vs. the Fed Balance Sheet This chart shows the S&P 500 Real Total Return vs. the Fed balance sheet since 1937. Image: Fidelity Investments

Coronavirus Crisis and Bankruptcies So far, bankruptcies in the United States remain limited. Image: Goldman Sachs Global Investment Research

Coronavirus Lockdown Measures and Impact on Global Real GDP According to Goldman Sachs, coronavirus lockdown measures have reduced global GDP by an estimated 16%. Image: Goldman Sachs Global Investment Research

Fiscal Policy – U.S. Fiscal Response to Coronavirus and Global Financial Crisis This chart puts into perspective the massive U.S. fiscal response to the coronavirus pandemic in 2020. Image: Goldman Sachs Global Investment Research

G4 Central Bank Balance Sheet, Flow The combined G4 central bank balance sheet (Fed, ECB, BoJ, BoE) is expected to expand further. Image: J.P. Morgan

Earnings Declines During Recessions Historically, earnings tend to decline by a median of 18% during an U.S. recession. Image: LPL Research