S&P 500 Top 5 Stocks’ Weight vs. 1-Year Forward Returns There is no correlation between the top 5 stock’s market cap weight and the S&P 500 forward 1-year total return. Image: Goldman Sachs Global Investment Research
Top Five Companies % of S&P 500 Market Capitalization The S&P 500 remains more concentrated in the 5 largest stocks than during the dotcom bubble. Image: BofA Global Investment Strategy
China Stock Market – Shanghai Stock Exchange Composite Index Does the future look brighter for Chinese stocks? Image: BofA Global Investment Strategy
Valuation – U.S. Equity Market Cap to GDP and U.S. Corporate Profits to GDP Is the U.S. stock market expensive? The U.S. equity market capitalization to GDP ratio hits a new all-time high. Image: Goldman Sachs Global Investment Research
U.S. and China Tech Stocks Relative Returns Will China tech stocks continue to underperform their market? Image: Goldman Sachs Global Investment Research
Households – Global Excess Savings Could excess savings drive global stock markets higher? Image: Goldman Sachs Global Investment Research
S&P 500 and % of Stocks Above 50-Day Moving Averages Based on the percentage of stocks above 50-day moving averages, market breadth has weakened. Should investors be worried? Image: BofA Global Research
Top 5 Stocks % of S&P 500 Market Capitalization Is it a bull trap? The S&P 500 remains more concentrated in the five largest stocks than during the internet bubble. Image: BofA Global Investment Strategy
Emerging Market Stocks – EM Consumer Discretionary + Tech vs. EM Energy + Materials This chart highlights the secular rotation from healthcare/tech to energy/financials. Image: BofA Global Investment Strategy
Tech Stocks – Central Bank Balance Sheet vs. Big Tech Market Capitalization Are markets too optimistic about Fed tapering? Image: BofA Global Investment Strategy