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	<title>Search Results for &#8220;spending&#8221; &#8211; ISABELNET</title>
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	<link>https://www.isabelnet.com</link>
	<description>Advanced Stock Market Forecast for Professional and Individual</description>
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	<title>Search Results for &#8220;spending&#8221; &#8211; ISABELNET</title>
	<link>https://www.isabelnet.com</link>
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	<item>
		<title>Hyperscaler Capex</title>
		<link>https://www.isabelnet.com/sp-500-operating-eps-vs-capex/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Fri, 18 Sep 2026 08:30:27 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=62492</guid>

					<description><![CDATA[Hyperscaler Capex US hyperscalers are on track to spend $806 billion this year, with annual capex projected to reach $1.234 trillion by 2027. That kind of spending points to an AI infrastructure supercycle, not just another phase of cloud growth. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
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		<title>Valuation &#8211; S&#038;P 500 PEG Ratio</title>
		<link>https://www.isabelnet.com/valuation-percentile-for-europe-u-k-and-u-s/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Fri, 11 Sep 2026 08:33:01 +0000</pubDate>
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		<guid isPermaLink="false">https://www.isabelnet.com/?p=74838</guid>

					<description><![CDATA[Valuation &#8211; S&#38;P 500 PEG Ratio Fwd P/E? Rich. PEG? Cheap, because long-term earnings-growth estimates are the highest since 1995. That low PEG is just blockbuster growth expectation. A recession or an AI-spending slowdown could quickly turn that narrative. Image: Real Investment Advice]]></description>
		
		
		
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		<title>S&#038;P 500 Median Monthly Realized Volatility &#8211; Midterm Election Years vs. All Years</title>
		<link>https://www.isabelnet.com/implied-volatility-vix-and-realized-sp-500-volatility-1-month/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Thu, 03 Sep 2026 08:30:29 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=49160</guid>

					<description><![CDATA[S&#38;P 500 Median Monthly Realized Volatility &#8211; Midterm Election Years vs. All Years Midterm years usually bring more turbulence to the S&#38;P 500, particularly in October, while the market waits to see who ends up controlling Congress and how that reshapes taxes, regulation and spending. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
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		<title>Hyperscaler Capex Estimates by Year</title>
		<link>https://www.isabelnet.com/sp-500-consensus-quarterly-earnings-actual-and-consensus-estimates/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Mon, 24 Aug 2026 08:30:48 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=80828</guid>

					<description><![CDATA[Hyperscaler Capex Estimates by Year Wall Street keeps underestimating the scale of hyperscalers&#8217; AI spending. What looked like a temporary surge is turning into a multiyear race for data centers, chips, networking capacity and power. Image: BCA Research]]></description>
		
		
		
			</item>
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		<title>Equities and Mutual Funds as a % of Disposable Personal Income</title>
		<link>https://www.isabelnet.com/u-s-total-disposable-personal-income/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Thu, 20 Aug 2026 08:30:12 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=29064</guid>

					<description><![CDATA[Equities and Mutual Funds as a % of Disposable Personal Income Stocks now dominate household wealth. As a result, the equity wealth effect is a much bigger force in the U.S. business cycle and a key driver of consumer spending. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
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		<title>Top 7 Hyperscaler Capex Forecast</title>
		<link>https://www.isabelnet.com/performance-u-s-capex-growers-and-rd-innovators-vs-sp-500/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Mon, 17 Aug 2026 08:30:28 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=32796</guid>

					<description><![CDATA[Top 7 Hyperscaler Capex Forecast This year, the top seven U.S. hyperscalers are on track to pour almost $900 billion into capex, with 2027 set to drive the total toward $1.5 trillion. What began as an AI boom has turned into a spending supernova. Image: J.P. Morgan Estimates]]></description>
		
		
		
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		<item>
		<title>Consensus Hyperscaler Capex Estimates</title>
		<link>https://www.isabelnet.com/global-nonfinancial-equities-earnings-per-share-growth-and-capex-growth/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Tue, 11 Aug 2026 08:30:46 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=56472</guid>

					<description><![CDATA[Consensus Hyperscaler Capex Estimates Capex estimates keep surprising to the upside as earnings season rolls on. Hyperscaler spending is now on track to hit over $1 trillion in 2027. That looks less like a cycle and more like a regime change. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
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		<title>S&#038;P 500 Performance Since 2025</title>
		<link>https://www.isabelnet.com/median-quarterly-sp-500-performance/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Mon, 10 Aug 2026 08:30:47 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=60242</guid>

					<description><![CDATA[S&#38;P 500 Performance Since 2025 After spending two months stuck in a narrow range, the S&#38;P 500 broke decisively higher during earnings season. Investors had been underpositioned for the strength of earnings and were now scrambling to catch up. Image: Deutsche Bank Asset Allocation]]></description>
		
		
		
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		<title>Realized and Consensus Hyperscaler Free Cash Flow</title>
		<link>https://www.isabelnet.com/shareholder-return-vs-free-cash-flow/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Mon, 10 Aug 2026 08:30:46 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=16195</guid>

					<description><![CDATA[Realized and Consensus Hyperscaler Free Cash Flow Hyperscaler free cash flow is expected to remain negative through 2027 as AI spending accelerates, before recovering in 2028. For now, that cash burn is the price of keeping up in the AI race. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
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		<title>Real U.S. Personal Consumption Expenditures Y/Y Growth</title>
		<link>https://www.isabelnet.com/u-s-total-labor-income-and-personal-consumption-expenditures/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Fri, 31 Jul 2026 08:30:23 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=24039</guid>

					<description><![CDATA[Real U.S. Personal Consumption Expenditures Y/Y Growth In recent quarters, U.S. consumers have continued to reallocate spending toward experience‑driven categories like travel, dining and recreation, even as overall services spending growth has cooled. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Equities, Cash and Real Estate as % of U.S. Household Net Financial Wealth</title>
		<link>https://www.isabelnet.com/equity-share-of-u-s-household-financial-assets/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Tue, 28 Jul 2026 08:30:53 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=70350</guid>

					<description><![CDATA[Equities, Cash and Real Estate as % of U.S. Household Net Financial Wealth Stocks have overtaken real estate as the bigger store of household wealth in the U.S., and that has become a meaningful tailwind for spending. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Valuation &#8211; U.S. Hyperscalers 12-Month Forward P/E</title>
		<link>https://www.isabelnet.com/valuation-12-month-forward-p-e/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Wed, 22 Jul 2026 08:31:07 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=78882</guid>

					<description><![CDATA[Valuation &#8211; U.S. Hyperscalers 12-Month Forward P/E U.S. hyperscalers are trading at decade-low valuations, tempting bargain hunters. But doubts about AI spending and when those returns will arrive are keeping buyers on the sidelines. Image: BCA Research]]></description>
		
		
		
			</item>
		<item>
		<title>U.S. Broad Money (M2)</title>
		<link>https://www.isabelnet.com/sp-500-and-money-supply-m2-leading-indicator/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Thu, 16 Jul 2026 08:30:17 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=28769</guid>

					<description><![CDATA[U.S. Broad Money (M2) After shrinking in 2022 and 2023, U.S. M2 growth has continued to expand. That&#8217;s good news for nominal spending and asset prices, but it also brings the familiar inflation question back into focus if money growth and velocity both stay hot. Image: Gavekal, Macrobond]]></description>
		
		
		
			</item>
		<item>
		<title>Capex to Operating Cash Flow for U.S. and China Hyperscalers</title>
		<link>https://www.isabelnet.com/free-cash-flow-margin-for-sp-500-and-tech-sector/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Fri, 10 Jul 2026 08:30:21 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=35794</guid>

					<description><![CDATA[Capex to Operating Cash Flow for U.S. and China Hyperscalers U.S. hyperscalers are on track to spend more than their operating cash flow in 2027. The market is no longer asking whether they can pay for it, but whether the AI spending will eventually deliver returns. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Semiconductor Earnings vs. Hyperscaler Free Cash Flows</title>
		<link>https://www.isabelnet.com/semiconductor-sales-vs-global-earnings-per-share/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Wed, 08 Jul 2026 08:30:39 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=8147</guid>

					<description><![CDATA[Semiconductor Earnings vs. Hyperscaler Free Cash Flows Semiconductor earnings are riding the AI capex wave, but hyperscaler free cash flow is taking a hit as spending on chips, data centers, and networking accelerates. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Revision to Consensus Hyperscaler Year/Year Capex Growth</title>
		<link>https://www.isabelnet.com/revision-to-consensus-hyperscaler-year-year-capex-growth/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Mon, 06 Jul 2026 08:30:09 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=144528</guid>

					<description><![CDATA[Revision to Consensus Hyperscaler Year/Year Capex Growth 2027 capex is still a moving target for hyperscalers. They look more likely to overshoot than undershoot on AI spending, which could keep AI-driven inflation stickier for longer. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Tech: Capex and Buyback &#038; Dividends</title>
		<link>https://www.isabelnet.com/sector-breakdown-of-164-companies-that-discussed-suspending-buybacks-and-or-dividends/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Mon, 29 Jun 2026 08:30:11 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=29388</guid>

					<description><![CDATA[Tech: Capex and Buyback &#38; Dividends Tech capex has now overtaken buybacks and dividends. Are shareholders trading short-term pain for long-term gain? It only works if that spending delivers real returns. Image: Societe Generale Cross Asset Research]]></description>
		
		
		
			</item>
		<item>
		<title>Hyperscaler Year/Year Cash Spending Growth</title>
		<link>https://www.isabelnet.com/sp-500-cash-spending/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Wed, 13 May 2026 08:30:44 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=16228</guid>

					<description><![CDATA[Hyperscaler Year/Year Cash Spending Growth Hyperscalers are ramping up AI spending, leaving less capacity for buybacks and dividends. The trade-off is weaker near-term payouts in exchange for longer-term upside. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Distribution of S&#038;P 500 Annual Returns</title>
		<link>https://www.isabelnet.com/distribution-of-u-s-market-returns/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Thu, 23 Apr 2026 08:32:25 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=18079</guid>

					<description><![CDATA[Distribution of S&#38;P 500 Annual Returns Since 1928, double-digit annual losses in the S&#38;P 500 have been the exception, not the rule, occurring only 12 times. Today, with record earnings, elevated margins, and sustained AI spending, momentum continues to favor higher prices. Image: Carson Investment Research]]></description>
		
		
		
			</item>
		<item>
		<title>Estimated Share of S&#038;P 500 EPS Growth</title>
		<link>https://www.isabelnet.com/sp-500-yoy-eps-growth-estimate/</link>
		
		<dc:creator><![CDATA[isabelnet]]></dc:creator>
		<pubDate>Tue, 07 Apr 2026 08:31:38 +0000</pubDate>
				<category><![CDATA[Blog]]></category>
		<guid isPermaLink="false">https://www.isabelnet.com/?p=33757</guid>

					<description><![CDATA[Estimated Share of S&#38;P 500 EPS Growth AI infrastructure spending is expected to drive about 40% of S&#38;P 500 earnings growth this year, and around 28% in 2027. It&#8217;s a strong tailwind for profits today, but one that leaves the market increasingly dependent on it. Image: Goldman Sachs Global Investment Research]]></description>
		
		
		
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