Fund Flows to Tech Leveraged Equity ETFs Investors kept buying tech funds as prices fell, even piling into leveraged products. That signals resilient risk appetite, and leaves room for a sharp rebound if sentiment turns.…
Market Breadth – Percent Below 52-Week High S&P 500 Index Less Median Stock The S&P 500 52-week market breadth is improving. For bulls, that’s encouraging: rallies tend to look healthier when more stocks take part.…
S&P 500 Index Returns in October October’s final week has often been kind to U.S. stocks. Late-month lows are nothing new, and deeply bearish sentiment could set the stage for another buying opportunity. Image: Carson…
Largecap MCG & Tech Positioning and Earnings Growth Tech positioning remains well below what expected earnings growth would suggest. That gap leaves room for a catch-up trade. Image: Deutsche Bank Asset Allocation
S&P 500 Returns Around Midterm Elections Midterm season has often been kind to U.S. stocks: The S&P 500 rose in 21 of the past 23 midterm cycles, from one month before Election Day to two…
MSCI Cyclicals/Defensives Return A brighter growth outlook tends to lift cyclical stocks, while defensive stocks can help cushion portfolios when the economy slows. Right now, cyclicals relative to defensives are sliding sharply. Image: Goldman Sachs…
Median Short Interest Across U.S. Stocks Since 2022, traders have steadily built bearish bets on U.S. stocks. If momentum flips, those positions could quickly become fuel for a rally. Image: Deutsche Bank Asset Allocation
S&P 500 and Predecessors, Calendar-Year Price Returns Since 1928 The S&P 500 and its predecessors have finished higher in 73% of years since 1928. Risk never disappears, but staying bearish means fighting a long-standing tailwind.…
Truck Tonnage vs. S&P 500 Index The Truck Tonnage Index The Truck Tonnage Index increased 0.8% in September. Trucks represent 72.7% of U.S. freight and serve as a barometer of the U.S. economy. This chart…
Five-Year Credit-Default Swaps on Hyperscalers and Chipmakers The AI boom is pushing credit risk to new highs. The race to build is becoming a race to borrow. And protection against default keeps getting more expensive.…
Central Bank Gold Demand Nowcast Gold buying by central banks has eased, but official-sector demand remains historically strong, helping diversify reserves and support prices. Image: Goldman Sachs Global Investment Research