Equity Market Concentration – Market Capitalization of 10 Largest Companies as Share of S&P 500 Total The S&P 500’s heavy weighting toward its top ten stocks, which exceeds their earnings share, exposes the index to…

Valuation – S&P 500 NTM P/E By historical standards, both the S&P 500 cap-weighted and equal-weighted indices are currently expensive, reflecting elevated stock market valuations. Image: Goldman Sachs Global Investment Research

GS U.S. Financial Conditions Index Easing financial conditions boost U.S. growth through increased spending and investment. However, it remains crucial to monitor inflation risks closely. Image: Goldman Sachs Global Investment Research

U.S. ETF and Mutual Fund Flows Investors continue to favor liquidity and lower-volatility assets—such as bonds and money market funds—over equities, due to ongoing economic and geopolitical uncertainties and the current interest rate environment. Image:…

Health Care Sector Weight in the S&P 500 With a 9% weight in the S&P 500 and an earnings share of 10%, the health care sector represents an important, though not dominant, part of the…

Real U.S. Consumer Spending During the first half of 2025, U.S. inflation-adjusted consumer spending contracted—the weakest pace seen in over 15 years—driven by cautious consumer behavior amid tariff concerns and economic uncertainties. Image: Deutsche Bank

MOVE, VIX and FX Volatility The “Goldilocks summer” of market calm is essentially over, as mounting concerns about the U.S. economy awaken markets from their seasonal slumber. Image: Bloomberg

CAPE Valuations and Deviation from Exponential Growth Trend The current elevated Shiller CAPE ratio suggests that U.S. stock valuations are stretched relative to historical averages, a condition that has often preceded lower long-term investor returns.…

90/90 Days and What the S&P 500 Did Next The “90/90 days” back to 1980 often coincide with major policy events or changes, serving as drivers or inflection points for markets. Powell’s recent dovish pivot…

S&P 500 Weekly Announced Buybacks In 2025, strong buyback activity by S&P 500 companies highlights their optimistic growth outlook, solid financial health, and strategic capital use to reward shareholders despite market volatility and uncertainty. Image:…

U.S. ISM Services Prices Paid Index vs. U.S. CPI Inflation (Leading Indicator) The U.S. ISM Services Prices Paid Index typically leads U.S. CPI inflation by three months, indicating that changes in the index can help…