S&P 500 – Bull Markets That Made It To 100% At just 3.5 years old and already up more than 100%, the current bull market still looks like it has legs, leaving bears stuck watching from the sidelines. Image: Goldman Sachs Global Investment Research
Retail Gasoline Price Change Between February 23 and April 27, 2026 The Middle East conflict is sending fuel costs soaring across Asia, with gasoline prices in Southeast Asia up 37% since the war began. In the U.S., prices have surged 42%, a sharp rise that is hard to ignore. Image: J.P. Morgan Commodities Research
S&P 500 1-Month Forward Returns Based On Sentiment Indicator Level Goldman Sachs’ U.S. Equity Sentiment Indicator sits at 1.7, a reading historically linked to an average 0.4% decline in the S&P 500 over the next month. Image: Goldman Sachs Global Investment Research
S&P 500 Performance After >5% YTD After April Since 1972, when the S&P 500 has been up more than 5% heading into May, it has ended the year higher 92% of the time, with a median gain of 10%. No wonder the bulls like those odds. Image: Carson Investment Research
Sentiment Indicator and Stock Positioning At 1.7, Goldman Sachs’ U.S. Equity Sentiment Indicator looks stretched, a level that has historically been followed by an average -0.4% return in the S&P 500 over the following month. Image: Goldman Sachs Global Investment Research
Returns for Major Global Financial Assets April was a standout month for the S&P 500, which surged 10.5%, even as U.S. Treasuries came under pressure amid rising inflation concerns and fading hopes for Fed rate cuts. Image: Deutsche Bank
Median Monthly Flow into Equity Mutual Funds and ETFs as a % of Total AUM Historically, May has been the month with the largest outflows from equity mutual funds and ETFs, hardly surprising given how frequently stocks lose momentum during the month. Image: Goldman Sachs Global Investment Research
Net Foreign Purchases of Long-Term U.S. Securities Foreign appetite for U.S. securities is still going strong. For all the talk of a dollar exodus, the world’s money managers are behaving as if nothing has changed. Talk is cheap. Flows tell the truth. Image: Real Investment Advice
S&P 500 Performance After April >5% Since 1950, a 5%+ April rally has set the tone: May has risen 90% of the time, and the rest of the year has posted a median return of 14.1%, giving bulls a solid tailwind. Image: Carson Investment Research
S&P 500 Returns in April With a 10.4% gain, the S&P 500 just posted its second-strongest April since 1950, a powerful boost that often spills into the rest of the year, especially alongside new highs. Image: Carson Investment Research
Valuation – MSCI World 12-Month Forward PE With global equities trading at 18.5 times forward earnings, valuations look stretched by historical standards. Not a bubble, but far from cheap. Image: Goldman Sachs Global Investment Research