12-Month Forward ROE Ranges for Different MSCI Regions A higher ROE points to stronger profitability—and often justifies a premium—but U.S. equity valuations also hinge on growth expectations, risk sentiment, liquidity, and investor psychology. Image: Goldman Sachs Global Investment Research
S&P 500 Valuations The S&P 500’s current valuation places it alongside two standout episodes of market excess—the late-1990s dot-com mania and the 2021 stimulus-fueled rally—raising a yellow flag for investors who fear a stretch of muted returns. Image: Topdown Charts
Weight of Tech as % of Total U.S. Market Tech doesn’t just lead the U.S. stock market—it defines it with roughly 40% of the total U.S. market cap. That tight link raises a bigger question: when the sector’s grip loosens, will the market still stand on its own? Image: Goldman Sachs Global Investment Research
Gold and 200-Day Moving Average Gold’s story is still bullish, but this overheated chart, with a Z-score exceeding three, screams “cool‑down”—a pullback or a sideways pause looks more like a matter of when, not if. Image: Real Investment Advice
S&P 500 Performance After >35% in Six Months History stands with the bulls: up over 35% in six months, the S&P 500 has rarely moved this fast—only five times since 1950. Each time, the rally kept rolling, with an average 13.4% gain over the next year. Image: Carson Investment Research
Buybacks – Announced Share Repurchases for S&P 500 Companies In 2025, Corporate America is going all‑in on buybacks, unleashing more than $1 trillion to lift stock prices and keep the Wall Street mood buoyant. Image: J.P. Morgan
Returns – Gold vs. S&P 500 vs. MSCI World $4,000 gold isn’t just a headline—it’s the latest move in a powerhouse rally that has left equities in the dust since the millennium. Image: Bloomberg
Year/Year EPS Growth – Magnificent 7 vs. S&P 493 EPS growth for the Magnificent 7 is expected to cool to 14% in Q3, down from 28%. Mega-cap tech names should continue posting robust earnings growth, but the outsized premium that’s defined the trade might lose some of its shine in 2026. Image: Goldman Sachs Global…
Economy-Wide Firm AI Adoption Rate AI adoption keeps gaining ground, with 17.3% of firms already using artificial intelligence in their regular operations, a share projected to top 21.1% within six months. Image: Goldman Sachs Global Investment Research
Cumulative Bull vs. Bear Markets Why do bear markets matter? Because most of the gains of an inflation-adjusted bull run can be erased when the next downturn hits. Image: Real Investment Advice
S&P 500 Bull Markets Eight years and 288% gains—that’s on average the bull market playbook over the past 50 years. As today’s bull market enters its third year, there’s reason to believe the party is far from over. Image: Carson Investment Research