U.S. Corporate Profits as Percent of GDP Corporate America’s profit share remains elevated in 2025, a sign that the pandemic-era surge in profitability has proven surprisingly durable. Image: Goldman Sachs Global Investment Research
ISABELNET Cartoon of the Day This Thanksgiving, markets have one more reason to give thanks. The S&P 500 edges near all-time highs, turning the holiday into a feast of bullish fervor that even the turkey is getting a taste of investor euphoria. Happy Thanksgiving! 🦃😎
S&P 500 Annualized Return per Day The 2025 playbook feels familiar: U.S. stocks climb through midweek, then traders lock in gains and pare risk before the weekend. With Thanksgiving halting trading on Thursday, the early break may be just enough to keep the bears quiet. Image: Carson Investment Research
Fed Funds Rate and Fed Funds Futures Lower tariff rates and a dovish shift at the Fed could set the stage for rate cuts below 3.5% by year‑end, assuming inflation keeps drifting toward target and growth stays soft. Image: Deutsche Bank
Ratio of Bitcoin to Production Cost Bitcoin slipped below JPMorgan’s estimated production cost of $94,000 for the first time since mid-2020, a level that has often marked the price floor in earlier cycles. Even so, the bank remains optimistic on Bitcoin’s potential. Image: J.P. Morgan
S&P 500 and Global Central Bank Rate Cuts With most central banks cutting rates or holding steady over the past six months, the easy policy mood has helped lift risk appetite and pushed markets like the S&P 500 higher. Image: Bloomberg
Median Stock Short Interest as % of Market Capitalization – Russell 2000 vs. Nasdaq 100 vs. S&P 500 Short sellers are crowding into U.S. small‑caps, where weaker balance sheets, higher borrowing costs, and exposure to slower growth make easy targets. Image: Goldman Sachs Global Investment Research
Sectors Positioning (High Frequency) Positioning in mega-cap growth and tech names has eased but stays lofty compared with other sectors. Valuation worries are prompting some trimming, but the broader growth narrative is far from broken. Image: Deutsche Bank Asset Allocation
Valuation – Real S&P 500 Index with Recessions and S&P 500 Shiller CAPE Ratio Markets move in full cycles, swinging from long bull runs to deep bear phases. These patterns have played out time and again through history and remain essential to grasp for anyone focused on long-term investing. Image: Real Investment Advice
S&P 500 Annual Highs Per Month It’s still a bull market to love, even as the bears grow louder. History rarely sees the S&P 500 peak in October, and with new highs within reach, U.S. stocks may still have more room to run. Image: Carson Investment Research
Equities – 10-Year Forward Annualized Total Returns in Local Currency Rich valuations aren’t stopping Goldman Sachs from backing global equities, with Emerging Markets and Asia seen leading performance over the next 10 years. Image: Goldman Sachs Global Investment Research