Valuations – 12-Month Forward P/E Multiple – MSCI Regions, STOXX 600 and S&P 500 Markets may have pulled back, but valuations are still elevated worldwide. Strong earnings are doing the work, and as long as that continues, multiples are unlikely to crack. Image: Goldman Sachs Global Investment Research
Global Economy – GDP Growth Projections The IMF projects global growth at 3.1% in 2026 and 3.2% in 2027. Robust tech investment, steady policy support, and a surprisingly flexible private sector are keeping momentum alive despite the Middle East conflict. Image: International Monetary Fund
GS Financial Conditions Index With rates lower and equities climbing, looser US financial conditions are giving both consumer spending and business investment a stronger tailwind. Confidence often strengthens in step. Image: Goldman Sachs Global Investment Research
S&P 500 Drawdowns from 52-Week High and the First Two Years of a New Fed Chair’s Term Fed leadership changes don’t usually shake markets on their own. It’s the macro picture and prior positioning that set the tone. The shift only bites if it clashes with what markets were expecting in the first place. Image:…
S&P 500 Sector P/E Valuations Relative to History S&P 500 Financials are still trading at relatively modest valuations compared with other sectors, while Industrials are creeping into stretched valuations. Image: Goldman Sachs Global Investment Research
Hyperscaler Capex Hyperscaler capex is poised to climb to $674 billion this year and $794 billion in 2027, but the path won’t be entirely smooth. Episodes of overcapacity may slow momentum as demand and returns come back into line. Image: Goldman Sachs Global Investment Research
Risk Appetite Indicator Goldman Sachs’s Risk Appetite Indicator is on the rise. Investors are stepping back into risk with few signs of overheating. Confidence is improving, but not getting ahead of itself. Image: Goldman Sachs Global Investment Research
S&P 500 12-Month Forward Returns After 10-Day Surges Of 10%+ History leans bullish: since 1950, a 10% surge in the S&P 500 over 10 days, like in April, has been followed by gains in 17 of 20 cases, averaging 19% over the following 12 months. Panic selling at the bottom rarely pays off. Image: Real…
S&P 500 – Investing at All-Time Highs vs. All Other Days Investing at all-time highs tends to spook investors, but the data suggests otherwise: S&P 500 forward returns have typically looked much like those from any other day. Missing the market has usually cost more than buying at the top. Image: Carson Investment Research
U.S. Share Buyback Authorization Announcements Wall Street’s latest tailwind: U.S. share buyback authorizations have hit a record $422 billion year-to-date, providing a meaningful cushion for equities. Image: Goldman Sachs Global Investment Research
Truck Tonnage vs. S&P 500 Index The Truck Tonnage Index rose 0.3% in March. Trucks represent 72.7% of U.S. freight and serve as a barometer of the U.S. economy. This chart shows that, historically, the U.S. stock market has tended to increase in line with the physical size and expansion of the U.S. economy (R²…