Live performance for 30+ global stock indices, US sector rotation heatmap, valuation metrics, and how to trade index CFDs.
May 12, 2026 · 14:30 UTC · P/E = trailing 12-month earnings
| Index | Region | Price | Day | Week | YTD | P/E |
|---|---|---|---|---|---|---|
| S&P 500 US Large Cap | 🇺🇸 USA | 5,248 | +0.68% | +1.4% | +9.2% | 21.2x |
| NASDAQ 100 US Tech | 🇺🇸 USA | 18,352 | +1.12% | +1.8% | +12.4% | 28.4x |
| Dow Jones US Blue Chip | 🇺🇸 USA | 38,920 | +0.35% | +0.9% | +5.8% | 17.8x |
| Euro Stoxx 50 Eurozone | 🇪🇺 EU | 5,082 | -0.36% | -0.2% | +5.8% | 14.1x |
| FTSE 100 UK | 🇬🇧 UK | 8,241 | +0.54% | +0.7% | +3.1% | 11.8x |
| DAX 40 Germany | 🇩🇪 DE | 18,842 | -0.28% | +0.4% | +8.4% | 13.9x |
| Nikkei 225 | 🇯🇵 JP | 38,472 | -0.32% | +0.6% | +14.2% | 16.2x |
| Hang Seng | 🇭🇰 HK | 18,540 | +0.91% | +2.1% | +7.4% | 10.2x |
| ASX 200 | 🇦🇺 AU | 7,842 | +0.44% | +0.8% | +4.6% | 17.4x |
The S&P 500 at 21.2x P/E is above its 20-year average of 16–18x. The top 7 stocks represent ~30% of the entire index — meaning 'index exposure' is substantially a mega-cap tech bet. FTSE 100 at 11.8x and Hang Seng at 10.2x reflect their respective country risk discounts.
Sector rotation analysis reveals the market's underlying risk appetite and identifies where institutional capital is flowing. Technology dominating for the second consecutive year signals continued AI infrastructure spend. Real estate's sole negative return reflects the persistent impact of elevated long-term interest rates on property valuations.
Key rotation signal for Q3: Watch whether energy (currently +12.1%) maintains its leadership — energy leading alongside technology signals genuine risk-on breadth. If energy fades while tech continues, the rally is narrowing, a warning sign for overall index sustainability.
Stock index prices ultimately reflect corporate earnings multiplied by the multiple investors are willing to pay (P/E ratio). The S&P 500's 10-year compound annual return breaks down as: ~7% earnings growth + ~2% dividend yield + ~1% valuation change. Currently, earnings growth has slowed to ~5% while the multiple has expanded to 21x — meaning recent returns have been driven more by multiple expansion than fundamental growth.
The risk: multiple expansion requires continued confidence in future growth. Any deterioration in earnings guidance or macro conditions that causes de-rating (multiple compression back to 16–18x) implies an S&P 500 correction of 10–15% from current levels — even with no earnings decline.
Rising rates pressure equity valuations through two channels: (1) they increase the discount rate applied to future earnings, reducing present value; (2) they make risk-free bonds more attractive vs equities. The S&P 500 earnings yield (~4.8%) vs the 10-year Treasury yield (~4.38%) leaves an 'equity risk premium' of only 0.4% — the thinnest since 2007. This does not guarantee a correction but it does mean equities are providing minimal compensation for the additional risk vs holding bonds.
Index CFDs allow long or short exposure to entire markets without buying individual shares. Most popular: US500 (S&P), US100 (NASDAQ), GER40 (DAX), UK100 (FTSE). Available through HFM and IC Markets with spreads from 0.4 pts on US500.
Index CFDs with leverage amplify both gains and losses. A 5% index decline becomes a 25% account loss at 5:1 leverage. Always use stop-losses.