S&P 500 Equal Weight Index vs. S&P 500 Index – Two-Year Performance Spread Investors’ rush from tech to value has driven one of the deepest performance gaps between the market-cap and equal-weighted indexes since the pandemic era. After years in the shadows, value stocks are finally getting some love. Image: Real Investment Advice
S&P 500 vs. U.S. Corp Investment Grade All Sectors OAS A widening OAS for investment grade debt is typically a bearish signal for U.S. equities. That’s not what stock bulls want to see. Image: TS Lombard
Earnings Growth – Mag 7 and S&P 500 ex-Mag 7 With earnings set to jump 26% this year, the Magnificent Seven look poised to outpace the rest of the S&P 500, where growth is seen at just 11%. It’s a telling gap, and tech’s momentum still looks unstoppable. Image: J.P. Morgan Asset Management
U.S. Core CPI Inflation U.S. inflation cooled in February as core CPI rose 0.22%, right on expectations. The annual rate slowed to 2.5%, marking steady disinflation progress but still short of the Fed’s 2% target. Image: Goldman Sachs Global Investment Research
Valuation – S&P 500 NTM P/E At a forward P/E of 17 against 21 for the benchmark, the equal-weight index shows how much cheaper the market looks beyond Big Tech. The gap says plenty about just how narrow today’s market leadership is. Image: Goldman Sachs Global Investment Research
Probability of U.S. Recession Calculated from the Yield Curve The probability of U.S. recession in 12 months, calculated from the yield curve, stands at 16.1%, keeping the balance of risk tilted toward continued expansion. Image: Federal Reserve Bank of Cleveland
New York Fed GDP Nowcast The New York Fed trimmed its Q1 2026 U.S. GDP Nowcast to 2.09% from 2.23% a week earlier, a small downgrade that still leaves the steady‑growth narrative intact. Image: Federal Reserve Bank of New York Click the Image to Enlarge
Risk Appetite Indicator for Different Asset Classes Investors’ risk appetite for equities has cooled recently but stays in positive territory amid ongoing market swings. Sentiment has definitely softened, but bulls haven’t left the room. Image: Goldman Sachs Global Investment Research
S&P 500 Sector P/E Valuations Relative to History Earnings optimism hasn’t cracked, and investors are keeping S&P 500 sectors priced rich. As long as profits keep rolling in, few seem ready to question the price tag. Image: Goldman Sachs Global Investment Research
Indexed Return of Cyclicals vs. Defensives and Consensus Forward 4-Quarter U.S. GDP Growth The market is telling a slower-growth story. Relative returns between cyclical and defensive stocks imply about 1.5% real GDP growth in the US, far shy of Goldman Sachs’ 2.6% call for Q4. Image: Goldman Sachs Global Investment Research
Purchasing Power of the U.S. Dollar Inflation may feel abstract, but its impact isn’t: History shows the U.S. dollar has lost about 90% of its purchasing power since 1966. Only assets that outpace rising prices, such as stocks, can keep investors ahead. Image: Real Investment Advice