Median 2-Week S&P 500 Returns Historically, the second half of December has been generous to the S&P 500, ranking as the fourth‑best half‑month period of the year going back to 1950. Image: Goldman Sachs Global…

Margin Debt Balances – YoY % Change Margin debt on the NYSE has surged past $1.1 trillion, up nearly 40% YoY, marking one of the fastest spikes on record. Such rapid increases in borrowing, outpacing…

S&P 500 Returns After Fed Cuts Within 2% of an All-Time High Bears are losing ground as history leans bullish. Since 1980, when the Fed has eased policy while the S&P 500 traded within 2%…

Risk Appetite Indicator Level and Momentum Factors After its sharpest two-week rise since May, the GS Risk Appetite Indicator shows investors leaning into risk and betting on steady returns. Image: Goldman Sachs Global Investment Research

Valuation – S&P 500 NTM P/E At a forward P/E of 17 versus 23 for the benchmark, the equal-weight index shows what’s really happening: most stocks have stalled while a few giants do the lifting.…

S&P 500 vs. 10-Year U.S. Treasury Yield The S&P 500 has diverged from bonds in December, largely ignoring the bond market selloff despite 10-year Treasury yields rising notably this month. Stocks seem more focused on…

Forward P/E Ratio and Subsequent 5-Year Annualized Returns With U.S. stocks trading at stretched multiples, the era of easy money in equities seems to be fading, making patience the smarter play for the next five…

Spot Gold Gold refuses to give ground, with traders already eyeing next year’s Fed moves. A rush of central-bank buying and hot ETF demand have driven a 60% rally this year. Deutsche Bank pegs 2026…

U.S. Household Equity Ownership vs. S&P 500 Index U.S. households have never been this heavily invested in stocks. The higher the concentration, the greater the risk that a market pullback hits both confidence and consumption,…

S&P 500 Returns After Seven Month Win Streaks Seven winning months in a row? Since 1950, the S&P 500 has pulled that off 16 times and history says momentum like this rarely cools: nine out…

Sentiment – Risk Appetite and Expected U.S. Equity Market Performance Risk appetite is surging among U.S. equity fund managers, who are betting on robust returns, as optimism builds around rate cuts, economic momentum, and earnings…