I know we're all focused on US markets, but there are some interesting things happing with global equities right now. While the SPX has been faltering, a large amount of international markets have been ripping...Europe especially.
A couple of days old, but here's a comparison of Country ETF performance:
One interesting fact I heard was that about 40% of US equity is owned by foreign investors (which translates to meaning that about 28% of global market cap is foreigners owning US stuff). We're talking trillions.
And yet, it seems like everything in the news suggested that countries are, or will be, repatriating some of these funds for one reason or another. Europe talking about rearmament, China divesting from US treasuries, Tariff threats on Canada, Europe, China, Japan etc...
That 40% foreign ownership won't go to zero...but if it goes to even 30%, that's still an assload of money going into markets that have been extremely underfunded and undervalued for years. International equities have underperformed for what seems like forever, but the world seems to be changing, so maybe their prospects are too. I guess we'll see.