Fiscal Impulse to Growth from New Fiscal Legislation in the U.S. Early 2026 may deliver a fiscal tailwind for the U.S. economy as the One Big Beautiful Bill Act kicks in, lifting household spending, business investment, and overall growth. Image: Goldman Sachs Global Investment Research
Economy-Wide Firm AI Adoption Rate AI adoption keeps gaining ground, with 17.3% of firms already using artificial intelligence in their regular operations, a share projected to top 21.1% within six months. Image: Goldman Sachs Global Investment Research
S&P 500 and NAAIM Index Above 97 Active managers have a habit of chasing rallies and selling near lows. Last week, their equity exposure climbed to 97.13, a level usually seen around short-term market peaks. Image: Real Investment Advice
Contribution to S&P 500 EPS Growth The seven biggest S&P 500 stocks are set to drive 46% of the index’s EPS growth in 2026, down slightly from a 50% share this year as the rest of the market shows signs of catching up. Image: Credit Suisse Research
S&P 500 Earnings Yield Based on Shiller Cyclically-Adjusted P/E The S&P 500’s earnings yield, based on Shiller’s cyclically adjusted P/E, sits near century lows. But if history is any guide, valuations can defy gravity for years. Just remember the late ’90s. Image: Bloomberg
U.S. Unemployment Rate and U.S. Heavy Trucks Sales (Leading Indicator) Sales of U.S. heavy trucks tend to lead the economic cycle. When they drop, unemployment usually starts rising about six months later. Image: Goldman Sachs Global Investment Research
S&P 500 Index and 50-Day Moving Average After holding above its 50-day moving average, a key level traders watch to gauge momentum, the S&P 500 slipped below that support Wednesday as sellers came back into the market. Image: Bloomberg
Bitcoin Annual Returns Bitcoin is sliding toward a year of losses, and this one comes without the usual chaos. No fraud, no implosion, just a quieter, more mature market learning that pain isn’t always tied to panic. Image: Bloomberg
S&P 500 Index Performance in Year +1 After Three Consecutive >=+20% Gains While some volatility is likely, momentum still favors the bulls. After a powerful run from 2023 to 2025, the S&P 500 Index could find a short-term bottom in the fall of 2026 before pushing toward 7,700 by year-end. Image: Fundstrat Global Advisors, LLC
Gold Price (5-Year Rolling Change) and World Military Expenses When governments ramp up military spending, gold tends to sparkle. Rising geopolitical risks and looser fiscal policy weaken paper currencies and revive inflation worries, sending investors back to bullion. Image: Gavekal, Macrobond
Earnings Growth The gap between the Magnificent Seven and the rest of the S&P 500 is expected to narrow, paving the way for a broader, more balanced earnings landscape across the index in 2026 and 2027. Image: Goldman Sachs Global Investment Research