The Market Is in Full Greed Mode — And the Data Actually Backs It Up
Social sentiment is screaming bull market, earnings growth is unprecedented, and passive investors are about to own SpaceX whether they like it or not
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| SPY SPDR S&P 500 ETF TRUST | buy | $758.06 | — | — | — |
| PANW Palo Alto Networks Inc | buy | $288.00 | — | — | — |
| GOOG Alphabet Inc. | buy | $353.96 | — | — | — |
| MSFT MICROSOFT CORP | buy | $439.48 | — | — | — |
| ULTA Ulta Beauty, Inc. | sell | $478.40 | — | — | — |
| MRVL Marvell Technology, Inc. | buy | $323.63 | — | — | — |
| HPE Hewlett Packard Enterprise Co | buy | $54.28 | — | — | — |
| BTC Grayscale Bitcoin Mini Trust ETF | sell | $66995.00 | — | — | — |
| CRWD CrowdStrike Holdings, Inc. | buy | $766.45 | — | — | — |
| KO COCA COLA CO | hold | $78.40 | — | — | — |
| USO United States Oil Fund, LP | sell | $140.82 | — | — | — |
Let's just say the quiet part loud: Goldman Sachs CEO David Solomon went on air and said markets are in "greed" mode — and then acknowledged he knew that line would get clipped. He was right. But here's the thing: the underlying data is actually doing the heavy lifting. One-year forward earnings growth is projected at 20%+, BlackRock's Rick Rieder calls it "incredible," and the S&P 500 just posted a 16% gain over April and May — a two-month run that's only happened four other times since 1950. The Mag Seven are trading at roughly 26x earnings while delivering 30-40% earnings growth. That's not bubble math. That's actually… fine?
Meanwhile, passive investors are about to get a forced hand. NASDAQ changed its fast-entry policy, meaning SpaceX's rumored June 12th IPO at a $1.8 trillion valuation could land inside $IVV, $VTI, and other broad funds within 15 trading days. Only 5% of shares will float initially, which means passive funds will be chasing a very small pool. Separately, $PANW crushed Q3 earnings and raised guidance, cybersecurity names are up 50-60% in May alone, and Alphabet is running the largest-ever follow-on equity deal at $80 billion — with Berkshire Hathaway scooping up $10 billion of it. Anthropic and OpenAI are both reportedly filing IPOs. The AI capital markets party has a bouncer now, and the line is around the block.
The one genuine wrinkle: Fundstrat's Mark Newton sees crude oil breaking down toward $60, and semis are up 40%+ in a month with portfolio managers increasingly reluctant to chase. Gold just quietly overtook US bonds as the world's favorite investment. The market is throwing a rager, but someone left the back door open — and it smells like 1997, 1998, or 1999, and nobody can agree which year it actually is.