S&P 500 Sectors

MARKET CALL: The Impressive S&P 493 Ready For Broadway In 2026

Dec 13, 2025 4 min read paid

The S&P 500's Magnificent-7 might be less magnificent in 2026 as their fierce competition in the AI race starts to erode the monopolies they have enjoyed in search (Google), software (Microsoft), retailing (Amazon), advertising (Meta), electric vehicles (Tesla), smartphones (Apple), and GPU chips (Nvidia). The beneficiaries of that competition are likely to be the S&P 500's Impressive 493. A week ago, we

Ed Yardeni

MARKET CALL: Rebalancing Domestic & Global Stock Portfolios In 2026

Dec 7, 2025 4 min read paid

It no longer makes much sense for us to continue recommending overweighting the Information Technology and Communication Services sectors in an S&P 500 portfolio, as we have since 2010. The same can be said about overweighting the United States in the All Country World (ACW) MSCI portfolio, as we have been since 2010 as well. Consider the following: (1) Rebalancing S&P 500 portfolio. The problem is

Ed Yardeni

MARKET CALL: Party Like It's 1999!?

Sep 20, 2025 3 min read

The DJIA, S&P 500, Nasdaq, and Russell 2000 all rose to record highs this past week. All were boosted by the Fed's decision to cut the federal funds rate by 25bps on Wednesday. Is the stock market back on the road to the same irrational exuberance that inflated the Tech Bubble of 1999, which was followed by the Tech Wreck of the early 2000s? Will the

Ed Yardeni

Market Call: Bull Market Gets No Respect

Feb 25, 2024 2 min read paid

Like comedian Rodney Dangerfield, the S&P 500 bull market gets no respect. Dangerfield often bemoaned that he got no respect. His jokes included, "I went to a freak show and they let me in for nothing." The S&P 500 is up 42.3% since the start of the bull market on October 12, 2022, yet its detractors continue to observe that it has been

Ed Yardeni

Market Call: A Meltup For All Seasons

Feb 11, 2024 2 min read

The stock market has been melting up since late October 2023, when investors concluded that the Fed was done raising interest rates. It melted up during the fall and winter. We think it might continue to do so in the spring and summer. It could be a meltup for all seasons. Leading the S&P 500 stock price index to a new record high on Friday was the S&

Ed Yardeni

Not-So-Narrow Bull Market

Feb 8, 2024 1 min read

Have the S&P 500’s eight largest-capitalization stocks, the so-called MegaCap-8, been eating all the jellybeans, starving the other 492 in the S&P 500 LargeCap index during the current bull market? No. While the eight heavyweights have been on a sugar high in this bull market, they’ve left plenty of sweets for the rest of the stock market. Since October 12, 2022, when the bull

Ed Yardeni

S&P 500 Closes In On 5000

Feb 7, 2024 1 min read paid

The S&P 500 closed at a new record high today of 4994.63. This is the Rodney Dangerfield of bull markets: it's getting no respect. The naysayers say that it is too narrow to be a real bull market. Narrowness also makes it vulnerable to a reversal, according to them. However, they aren't giving the bull market due credit. It's true that

Ed Yardeni

Better Bull Breadth?

Dec 4, 2023 2 min read paid

The latest bull market started on October 12, 2022. Its detractors have been saying that it may not be the real thing. They've observed that it has been narrowly led by the MegaCap-8. That's true. The bearish naysayers have concluded that the bull market therefore isn't sustainable. We disagree. Our alternative outlook is that the bull market should broaden, which may be starting to

Ed Yardeni

July was Red Hot

Jul 31, 2023 2 min read paid

July was hotter than usual. We aren't referring to the weather but rather to the 3.1% increase in the S&P 500. That compares to an average increase of 1.7% for the month since 1928, with an average gain of 4.9% for the 58 up years and an average 3.2% loss during the 38 down years (chart). So it is fair to say

Ed Yardeni

Time To Rotate The Tires & The Portfolio?

Jul 20, 2023 2 min read paid

The S&P 500 fell 0.68% and the Nasdaq 100 lost 2.28% today on disappointing earnings calls from Tesla and Netflix. They also weighed on the S&P 500 Information Technology sector, which was down 2.0%. Neither Tesla or Netflix is a technology company according to S&P. Tesla is in the S&P 500 Consumer Discretionary sector (down 3.4% today), while

Ed Yardeni

Market Call: Melting Up?

Jul 2, 2023 2 min read paid

Growing confidence in the resilience of the economy has been one of the main reasons why the stock market has been so strong since October 12, with the S&P 500 up 24.4%, the Nasdaq up 32.4%, and the S&P 500 Transportation index up 21.0% since that date. On Friday, the S&P 500 closed up 1.22% at 4450.38 (chart). That&

Ed Yardeni

Market Call: Bulls Gaining Ground In Tug-of-War With Bears

Jun 19, 2023 3 min read paid

The bulls continue to gain ground in our tug-of-war with the bears. Consider the following: (1) The S&P 500 is now up 23.3% since October 12 to 4425.84 through last Thursday. That was the highest level since April 20, 2022. It was only 7.7% below the January 3, 2022 record high. (2) Measures of breadth are improving. The percentage of S&P 500 companies

Ed Yardeni

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