S&P 500 Index Returns in February The S&P 500 tends to lose a bit of steam as February winds down, with the final days often trending softer. Nobody likes it, but few are really surprised. Image:…

Short Interest as % of Market Capitalization S&P 500 Median At 2.7%, short interest for the median S&P 500 stock is on the high side, but the buildup appears tied to portfolio hedging, not a…

Different Market Sentiment Indicators Global equity inflows continue to prop up risk appetite, though some signs of softer sentiment are starting to surface, hinting at a typical consolidation phase. Image: Goldman Sachs Global Investment Research

Valuation – Magnificent Seven Forward P/E The Magnificent 7 are trading at their lowest premium to the rest of the S&P 500 in a decade. That doesn’t necessarily make them cheap, but the risk‑reward looks…

Software Stocks (IGV) and Forward P/E The recent weakness in software stocks reflects a valuation de-rating rather than deteriorating fundamentals. Retail investors have been adding exposure on dips, even as institutional money stays cautious. Image:…

Market-Implied Probability of a Recession Starting Within 1 Year and Market-Implied Probability of Being in a Recession The current market-implied probability of a U.S. recession within the next 12 months is 17%, slightly higher than…

Cumulative Global Sector Fund Flows Industrial funds have seen a surge in inflows over the past year, outpacing every other sector and showing no sign of losing momentum. Image: Deutsche Bank Asset Allocation

Global Equities Performance Since spring 2025, the stock rally has gone global, with Europe and Asia powering ahead while U.S. equities lag behind. Broad participation like this often keeps bull markets running longer than most…

Distribution of S&P 500 Annual Returns Since 1928, the S&P 500 has finished a calendar year more than 10% lower only 12 times. Such drops are rare, but they’re part of the cost of staying in…

Performance of S&P 500 Megacap Growth Stocks vs. Rest of S&P 500 Mega-cap growth and tech stocks are testing the bottom of their decade-long channel versus the rest of the S&P 500, a level that…

Volatility – VIX vs. VIXEQ Single-stock volatility is rising faster than the VIX as leadership rotates from tech toward energy names and companies tied to real assets. Volatility beneath the surface says more about market…