Magnificent Seven Stocks vs. S&P 500 – Cumulative Revenue Growth Since 2016 Since 2016, Mag 7 revenue has climbed 375%, versus 95% for the S&P 500. Earnings tell the same story. A flow-driven pullback can…
Consumer Sentiment Index and Subsequent 12-Month S&P 500 Returns When consumer confidence sinks, stocks often rebound anyway, turning lousy sentiment into fuel for gains. It’s a classic contrarian setup: the worse the mood, the better…
S&P 500 CAPE Ratio vs. U.S. Households Holding of Equities % Total Financial Assets When everyone is piled into equities and valuations are stretched, there isn’t much cushion left. History doesn’t say a crash has…
Valuations – 12-Month Forward P/E Ranges (MSCI Regions) U.S. and global equity valuations remain rich, but earnings are carrying the market for now. As long as profits hold up, that premium does not look like…
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…
Risk Appetite Indicator Level and Momentum Factors Goldman Sachs’ Risk Appetite Indicator increased again, keeping markets firmly in risk-on territory. Image: Goldman Sachs Global Investment Research
Net Credit Balance (Investor Cash Minus Margin Debt) Investor cash minus margin debt has fallen to negative $992 billion, the lowest on record and deeper than any prior cycle. It points to rising risk and…
Stocks – Dow Jones with Major Geopolitical Events Major geopolitical events can jolt markets, but U.S. equities have kept climbing as investors look beyond the headlines, rewarding those who stayed the course. Image: Carson Investment…
Hyperscaler Capex by Company U.S. hyperscaler capex is on track to hit $740 billion this year and nearly $1 trillion by 2027. At that scale, it no longer looks cyclical. It looks like a structural…
Earnings Sentiment – S&P 500, STOXX 600, Topix, MSCI EM Analysts have trimmed their S&P 500 earnings outlook in recent weeks, but expectations still look elevated as confidence in the full-year picture holds up. Image:…
Temporary Help Services Jobs vs. Real GDP and U.S. Recessions Temporary Help Services Jobs stand at -0.22% YoY in June. The relationship between Temporary Help Services jobs and the macroeconomy is complex. Declines in Temporary…