ProShares Advisors' Simeon Hyman: There's no sign of the U.S. economy overheating

Economic Outlook - The current economic environment is characterized by a soft landing, with GDP showing slight growth and inflation decreasing to the high twos, down from 7% core and 10% headline inflation [1] - The business cycle remains the primary driver of the stock market and economy, with no signs of overheating as capacity utilization has been stable at 76-77% for 12 months [1] Market Analysis - The equity market's fundamentals are stronger now compared to the late 1990s, with profit margins and return on assets improved [3] - Current valuations in the tech sector are significantly lower than the peak valuations of 56 times earnings at the end of the 1990s, now sitting in the mid-30s [2] Debt Levels - The net debt to EBITDA ratio for the S&P 500 is at 1.5 times, indicating manageable debt levels and a healthier financial position compared to historical standards [3]