Performance – % of S&P 500 Stocks Outperforming the Benchmark by Year Market leadership has broadened in 2025. Whereas a handful of large tech companies dominated in 2023 and 2024, more than half of S&P 500 stocks are now outperforming the index. Image: Ned Davis Research
S&P 500 Index The market’s ongoing volatility is a direct response to the unpredictable cycle of tariff announcements, pauses, and retaliations, with sentiment swinging between hope for de-escalation and fear of economic damage. Image: Deutsche Bank Asset Allocation
S&P 500 Average Return After a Day Since the start of the year, the S&P 500 has shown impressive resilience. On average, it has rebounded by 0.22% the day after a daily decline, highlighting the market’s ability to recover from setbacks. Image: Carson Investment Research
ISM Manufacturing Index vs. S&P 500 Index The U.S. ISM Manufacturing Index in June stands at 49.0%, above the consensus forecast of 48.8%, which is indicative of a contraction in the manufacturing sector. This chart shows the correlation between the U.S. ISM manufacturing index and the S&P 500 index year-over-year percent change, since 2011. Click…
Margin Debt and MoM Change The recent three-month, $90 billion decline in margin debt is not characteristic of what is typically observed at market tops, where margin debt tends to rise or peak amid speculative excess. Image: Fundstrat Global Advisors, LLC
S&P 500 After 5% Gain In May Historically, when May delivers a gain of over 5%, June tends to see continued strength, and the following 12 months have always produced positive returns, averaging close to 20% since 1985. Image: Carson Investment Research
S&P 500 Index vs. S&P 500 Equal Weight Index The S&P 500’s strong performance in May has not offset its lackluster start to 2025, and historical trends suggest that the third year of a bull market often brings continued volatility and only modest gains. Image: Bloomberg
S&P 500 Yearly Performance During Bull Markets Historically, the first two years of a bull market tend to deliver robust returns. While the third year may test investors’ patience, historical trends suggest that better times often follow. Image: Carson Investment Research Click the Image to Enlarge
Median Annual S&P 500 Total Return Based on Nominal 10-Year U.S. Treasury Yield There is no consistently clear or stable relationship between bond yields and equity returns. Their correlation is dynamic and shaped by various economic factors, including inflation, interest rates, and credit risk. Image: Goldman Sachs Global Investment Research
Foreign Investor Ownership Share of U.S. Equity Market Foreign investors now hold a record 18% of U.S. stocks, but shifting trade policies and global economic uncertainties may affect future investment in American equities. Image: Goldman Sachs Global Investment Research
S&P 500 Valuation The S&P 500 remains significantly overvalued according to several long-term valuation metrics. Historically, such elevated valuations have often preceded periods of below-average long-term equity returns. Image: Bloomberg