Market Capitalization of the S&P 493 as Share of Index Total The 493 smallest stocks in the S&P 500 now account for just 67% of the index’s market capitalization, a record low. This reflects a trend where a few large companies dominate, raising concerns about market concentration. Image: Goldman Sachs Global Investment Research
Discretionary Investor Equity Positioning vs. S&P Global Composite PMI Discretionary investor equity positioning is not reacting to changes in the global composite PMI. Image: Deutsche Bank Asset Allocation
S&P Credit Ratings Downgrades The coronavirus crisis sparks record company downgrades. Image: Oxford Economics
U.S. Stock Market Valuation – Cape Ratio The S&P 500’s CAPE ratio remains historically high, which could potentially lead to lower subsequent returns over the following 10 years. Image: Real Investment Advice
Current Valuation Relative to Long-term Average The S&P 500 Index remains historically expensive. Image: Truist