The U.S. stock market enjoyed an impressive performance throughout the first half of the year — the 21st best since 1900.

As we move into the second half of 2024, equity investors face greater risks, according to a Goldman Sachs note issued Tuesday.

Below are 10 reasons why equity analystPeter Oppenheimerfeels that global stocks are navigating an unusual environment characterized by high valuations and increased political tension. This could diminish the fear of missing out (FOMO) after a significant rally.

Chart: Nasdaq 100, S&P 500 Have Rallied 87% And 45%, Respectively Since Late 2022

1. Resilience Without Pullbacks: "We haven't seen a 5% pullback in global equities...