S&P 500 premium is mostly warranted says BofA

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Investing.com -- Bank of America analysts argued in a note Friday that the S&P 500's valuation premium is 'mostly warranted,' despite the index appearing expensive by traditional measures.
'The S&P 500 now trades at 21x forward earnings, 35% above average,' BofA wrote, adding that it 'looks statistically expensive relative to its own history on all 20 of the valuation metrics we track.'
However, the analysts say comparisons to historical averages may be misleading.
'Today's S&P is apples vs. prior decades' oranges,' they said, noting a shift in sector composition.
'Nearly 70% of the index was asset-intensive Manufacturing sectors in 1980 vs. <20% today.'
They argue the index 'has become higher quality, with lower leverage, lower earnings volatility, and higher margins.'
BofA also defended the U.S. market's premium over global peers. 'The US trades as the most expensive region (~40% premium vs. Europe/Asia which trade at 16x),' they noted, but emphasized that 'quality, balance sheets, growth potential and risk are statistically superior.'
They pointed to the U.S. being 'half as levered as other regions' and praised 'significantly lower estimate dispersion on 2025/2026 forecasts.'
Additionally, the U.S. offers 'roughly double the long-term growth potential of Asia and Europe, with lower earnings volatility than Europe, plus higher free cash flow per share and a lower percentage of non-earners vs. both Asia and Europe,' says the bank.
BofA also cited structural advantages including 'labor fungibility, USD as reserve currency, energy independence, unparalleled liquidity and Tech primacy (at least for now).'
For near-term positioning, BofA's tactical model prefers U.S. 'Communication Services, Utilities and Tech,' and highlights 'Interactive Media & Services, Metals & Mining and Independent Power & Renewable Electricity Producers' as top industry opportunities.
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From Chandelier to Cube: The Versatile Forms of 6:AM's '▢ [quadrato]' Collection

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2 hours ago

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From Chandelier to Cube: The Versatile Forms of 6:AM's '▢ [quadrato]' Collection

Summary 6:AM Glassworkshas recently unveiled its new '▢ [quadrato]' collection, a visual statement that reinterprets Murano-blown glass through essential lines and geometric forms. This innovative series draws inspiration from the industrial lamps of the 1920s, blending the rational language of the Bauhaus movement with the minimalist aesthetic championed by Malevich. The resulting collection spotlights modular lighting pieces, where intricate details, such as air bubbles, grooves and transparencies, contribute to each product's unique narrative. ' ▢ [quadrato]' was debuted during this year'sMilan Design Week, where it was featured within theTwo-Fold Silenceexhibition held at Piscina Cozzi — a historic former public bath. This setting provided a unique immersion into the brand's creative universe, allowing visitors to experience the interplay of rationality and instinct, as well as form and intuition that define the collection. The collection offers a versatile range of lighting solutions, available in suspension, wall, table, and floor variations. A notable piece within the collection is the ▢ [EXIT], which features screen-printed lattimo glass and a painted iron structure. Inspired by emergency lamps from the '20s, its pattern replicates pre-plastic designs, blending functionality with artistic craftsmanship in a striking red and white palette. Another standout piece worth mentioning is the ▢ [quadrato 36], a contemporary reinterpretation of the classic chandelier. This striking installation, composed of 36 hand-blown glass cubes, recalls the purity of Bauhaus aesthetics. Its planar arrangement emphasizes geometric precision, forming a floating grid of illuminated cubes that can be inquired about upon request. Crafted from lattimo handblown glass and powder-coated iron, the '▢ [quadrato] collection' exemplifies 6:AM's commitment to transforming functional objects into aesthetic and architectural pieces. Prices vary between €900 – €5,200 EUR (approx $1,035 – $5,978 USD) across the collection, with the exception of ▢ [quadrato 3 being available upon request. For more information, head over to 6:30's officialwebsite.

Analysts shows confidence in S&P entrant, raising target by 15%

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2 hours ago

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Analysts shows confidence in S&P entrant, raising target by 15%

Analysts shows confidence in S&P entrant, raising target by 15% originally appeared on TheStreet. The analysts at Cantor Fitzgerald have raised their 12-month price target for Coinbase (Nasdaq: COIN) from $253 to $292. Founded in 2012, Coinbase is the largest crypto exchange in the U.S. that went public in April 2021. Last month, it emerged as the first public crypto company to earn a spot on the S&P 500 index. Cantor Fitzgerald analysts led by Brett Knoblauch wrote in a recent note to clients that over the long term, Coinbase's trading activities will allow it to increase its market share and its activities outside of trading will materially alter "how investors view COIN." Though the analysts at Cantor lowered their revenue estimates for the crypto exchange by nearly 4%, they doubled down on an "overweight" rating on COIN. The note also mentions that the analysts don't expect "material upside" from these new products this year, but there could be a "profound" shift in investor perception by the second half of 2026 and into 2027. During the company's 2025 State of Crypto Summit, it announced on 12 June a partnership with Shopify to help merchants accept payments in USDC, a stablecoin issued by Circle (NYSE: CRCL). The service is available to early access merchants at Shopify and will expand to stores across the globe running Shopify Payments later this year. The exchange also launched a credit card the same day. Called the Coinbase One Card, it claims to give users a chance to earn up to 4% in Bitcoin rewards on every purchase. The COIN stock closed at $242.71 on 13 June as the Israel-Iran conflict shook the markets. Analysts shows confidence in S&P entrant, raising target by 15% first appeared on TheStreet on Jun 13, 2025 This story was originally reported by TheStreet on Jun 13, 2025, where it first appeared.

Women Are About To Inherit $30 Trillion in ‘Great Wealth Transfer' — How To Prepare for Your Windfall

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Women Are About To Inherit $30 Trillion in ‘Great Wealth Transfer' — How To Prepare for Your Windfall

American women are poised to inherit $30 trillion in wealth in the next 10 years in what experts are calling the Great Wealth Transfer, already in progress. Much of this money will be passed generationally, and a significant amount will move from men to their wives, according to The Rising Wealth of Women, a Bank of America Institute report published last year. Although this transfer is narrowing wealth disparities between women and men, the study found that women are still less confident in their ability to manage a financial windfall. Watch Out: Read Next: A recent survey from Citizens Bank found 66% of Gen Z women and 50% of millennial women said they'd delayed actively managing their wealth because they lacked confidence or didn't know how to do it, and just 16% felt completely confident in their ability to manage an inheritance. Keep reading to learn how to take control of your money and prepare for your eventual windfall. The vast majority of women who've already inherited money from their parents or their husbands felt unprepared. Global wealth manager UBS noted in its May Own Your Worth report that 40% of women who inherited from their parents had done so with no wealth-transfer or estate plan in place. Widowed women faced similar predicaments, with 25% not even knowing where their husbands' wealth was. At the very least, know what assets your family has, where they're held and how they'll pass on to you. Tax planning is also important, according to 87% of the inheritance recipients surveyed by UBS. Discover More: Defining your short-term and long-term goals in writing gives you a blueprint to guide your financial decisions now and after you've received your inheritance. These priorities might include: Building an emergency fund Saving for retirement Paying off debt Starting a business Saving for your kids' education Buying a home Planning your own estate It's never too early to start working toward your financial goals. A budget is the best way to do it. In addition to eliminating waste, it gets you in the habit of spending mindfully and deliberately. That accountability is the key to financial health, and it'll give you more choices when it comes time to decide how to use your inherited funds. A high percentage of women have never had their own investment account — and those who do invest do so more conservatively compared to men. Bank of America found that they allocate smaller percentages of their portfolios to stocks, for example, and are less likely to invest in risky assets like cryptocurrency. That's not a bad thing if it aligns with your risk tolerance. But if you're staying out of the market or investing conservatively because you don't feel competent enough to take more risk, make financial education a priority. Many resources are available online. You can find continuing/community ed courses through local colleges and universities. A certified financial planner (CFP) can help advise you on the best approach to meet your financial goals and help you figure out how your inheritance fits into that plan — and into your own estate plan as well. When the time comes, they can also advise you about the benefits of working with an attorney, tax accountant and/or insurance agent to protect your expanding assets. It's not unusual to have mixed feelings about planning for an inheritance. After all, it forces you to acknowledge your family members' and your own mortality. But laying the groundwork now can put everyone's minds at ease knowing that you're ready to receive this transfer of wealth and prepare the next generation to receive theirs. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Clever Ways To Save Money That Actually Work in 2025 I'm a Retired Boomer: 6 Bills I Canceled This Year That Were a Waste of Money This article originally appeared on Women Are About To Inherit $30 Trillion in 'Great Wealth Transfer' — How To Prepare for Your Windfall