S&P 500 Returns in April With a 9.2% gain so far, April is shaping up to be the S&P 500’s third-strongest April since 1950, a tailwind that could carry momentum into the rest of the year, especially when it coincides with new highs. Image: Carson Investment Research
Weekly Change in Equity Positioning Investors piled into equities, driving one of the biggest weekly jumps in positioning on record. Such bursts often reflect a market gripped by FOMO. Image: Deutsche Bank Asset Allocation
Change in 12-Month Forward EPS for S&P Tech Sector Firms Nearly all of the year-to-date increase in S&P tech forward earnings traces back to SanDisk and Micron. Excluding those names, revisions look subdued and the growth narrative starts to look less convincing. Image: Bloomberg
MOVE Index vs. S&P 500 The S&P 500 has been moving opposite to rate volatility. Stocks remain sensitive to rate swings, but as clarity returns, investors recalibrate and the market calms. It’s all about uncertainty, take that away and things settle fast. Image: Deutsche Bank Asset Allocation
S&P 500 Annual Rate of Change vs. Annual Change in GAAP Earnings The S&P 500 tends to track corporate earnings, so strategies built on profit growth make sense for investors playing the long game. In the end, it’s earnings that lift stocks and sustainable growth beats short-term noise every time. Image: Real Investment Advice
Nasdaq-100 Win Streaks of 12 Days or More and Future Returns A 12-day winning streak has pushed the Nasdaq-100 into rare territory. History is on the bulls’ side with similar streaks leading to positive returns one year out every time since 1985, averaging 19.4%. Image: Carson Investment Research
Excess CAPE Yield and Subsequent 10-Year Real Return The excess CAPE yield, which measures the gap between bond yields and the inverse of the P/E ratio, indicates that U.S. stocks look pricey, making now a tough entry point for buyers. The risk/reward looks thin at these levels. Image: Bloomberg
Fear & Greed Index – Investor Sentiment With the Fear & Greed Index at 63, markets are tilting toward greed. Not extreme yet, but spirited enough to keep the rally going. Image: Cable News Network
U.S. Stock Market Valuations – Combined P/E Ratio U.S. tech stocks still command a premium over the broader market, fueled by strong growth prospects, though that gap looks unlikely to close unless a recession shakes investor confidence. Image: Topdown Charts
Rolling S&P 500 Change Over 11 Sessions It’s a rare burst of momentum: the S&P 500 has gained more than 10% in just 11 sessions, something that’s happened only 15 times this century. Moves like this remind us how unpredictable markets can be. Image: Deutsche Bank
U.S. Real GDP Growth Betting on the resilience of the U.S. economy, Goldman Sachs sees growth holding at 2.3% in 2026 and easing slightly to 2.0% in 2027, helped by tax cuts, easier financial conditions, and fewer tariff pressures. Image: Goldman Sachs Global Investment Research