Forecast of Gold Prices Goldman Sachs is sticking with its $5,400 gold target for the end of 2027. Rising rates could make the climb bumpier, but the bullish outlook may put a floor under pullbacks. Image: Goldman Sachs Global Investment Research
U.S.-Listed ETF Cumulative Flows by Year More than $1.5 trillion has flowed into U.S.-listed ETFs so far this year, a record for this point in the calendar. If the buying continues, inflows could reach $2.3 trillion by year-end, according to model-based projections. Image: Goldman Sachs FICC & Equities
Consumer Sentiment Index and Subsequent 12-Month S&P 500 Returns Bad moods can be good news for stocks. When consumer confidence sinks, as it is today, pessimism may already be priced in, leaving markets room to rally. Image: J.P. Morgan Asset Management
Hyperscaler Cloud Revenue Backlogs Hyperscalers’ backlogs keep growing as cloud and AI demand accelerates. For now, the orders are there, but that’s not proof the spending will pay off. Image: Goldman Sachs Global Investment Research
Average Annual Real Return over the Following 10 Years, by Starting CAPE Valuation High starting CAPE valuations have often preceded disappointing returns for U.S. stocks, creating a particularly risky backdrop for investors just entering retirement. Image: Real Investment Advice
S&P 500 Performance After a Negative Q1 and Then a >10% Q2 If history is any guide, the rally may have more room to run. Since 1950, the S&P 500 has finished higher in every Q4 when it declined in Q1 and rose more than 10% in Q2. The average Q4 return was 6.8%, keeping…
Average Cumulative S&P 500 Total Returns – Invest on Any Day vs. Invest at a New High When markets hit record highs, many investors step back. That caution has often come at a cost: buying into strength has historically delivered better returns than buying on an average day. Image: J.P. Morgan Asset Management
Performance – MCG & Tech Ratio to the Rest of the S&P 500 The rotation into Tech has been powerful, but the rally may still have fuel left. Continued earnings strength in AI infrastructure, cloud computing, and software could give investors reason to keep buying. Image: Deutsche Bank Asset Allocation
Hyperscaler Cloud Revenue Cloud revenue growth at the hyperscalers hit 48% in Q2. Goldman Sachs equity analysts forecast 55% in Q3. It’s an encouraging sign, but not proof that the AI spending boom will pay off. Image: Goldman Sachs Global Investment Research
NASDAQ 100 vs. Tech Capex The Nasdaq 100 turned lower in 2000, nine months before tech investment as a share of U.S. GDP peaked. Will this time be different? Image: BCA Research
S&P 500 Bull Markets Over the past 50 years, the average U.S. bull market has lasted eight years and generated a 288% gain. Nearly four years into the current rally, the market still appears to have room to run, much to the bears’ frustration. Image: Carson Investment Research