{"id":233831,"date":"2023-05-26T12:30:23","date_gmt":"2023-05-26T12:30:23","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=233831"},"modified":"2023-05-26T18:10:00","modified_gmt":"2023-05-26T18:10:00","slug":"the-market-in-pictures-may-26","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-may-26\/","title":{"rendered":"The Market in Pictures, May 26"},"content":{"rendered":"

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:<\/p>\n

 <\/p>\n

Beckham:<\/strong> The idea that the Fed is going to cut rates continues to move farther into the future<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

John Luke:<\/strong> mirroring the continued push-out\u00a0of the \u201clooming recession\u201d<\/em><\/p>\n

 <\/p>\n

\"\"Source: Apollo as of 05.22.2023<\/p>\n

\u00a0<\/em><\/p>\n

Dave:<\/strong> at a time when actual capital spending seems to have stabilized from multi-year lows<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\"\"Source: BofA as of 05.22.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> Narrow leadership is THE story of the past few months<\/em><\/p>\n

 <\/p>\n

\"\"Source: Goldman Sachs as of 05.22.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> as the average stock just can\u2019t keep up with the megacap tech leaders<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\"\"Source: Raymond James as of 05.22.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> and equal-weighting is trailing market-cap weighting by the most in two decades<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.23.2023<\/p>\n

\u00a0<\/em><\/p>\n

Brad:<\/strong> resulting in a historic reliance on a few names to carry stocks higher<\/em><\/p>\n

 <\/p>\n

\"\"Source: Strategas as of 05.24.2023<\/p>\n

 <\/p>\n

John Luke:<\/strong> U.S. Treasuries have become less and less useful to foreigners in recent years<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\"\"Source: Strategas as of 05.22.2023<\/p>\n

\u00a0<\/em><\/p>\n

John Luke:<\/strong> for not only geopolitical reasons, but also because they\u2019re just not that attractive<\/em><\/p>\n

 <\/p>\n

\"\"Source: Strategas as of 05.24.2023<\/p>\n

\u00a0<\/em><\/p>\n

Dave:<\/strong> Speaking of foreign business exposure, it\u2019s much higher for larger US companies than for the smaller ones<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\"\"Source: Strategas as of 05.23.2023<\/p>\n

\u00a0<\/em><\/p>\n

Dave:<\/strong> creating a tricky situation for those large companies who\u2019ve become more reliant on non-friendly regions<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\"\"Source: PSC as of 05.22.2023<\/p>\n

\u00a0<\/em><\/p>\n

John Luke:<\/strong> On a positive note for the economy, consumers remain decently liquid despite some hits from higher prices<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\"\"Data as of May 2023<\/p>\n

\u00a0<\/em><\/p>\n

John Luke:<\/strong> The question with all of this is, how will things change if the Fed truly ends (or even slows) its long period of stimulus<\/em><\/p>\n

 <\/p>\n

\"\"Data as of May 2023<\/p>\n

\u00a0<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\u00a0<\/em><\/p>\n

\u00a0<\/em>Disclosures<\/strong><\/h5>\n

 <\/p>\n

Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.<\/em><\/p>\n

Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.<\/em><\/p>\n

This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.<\/em>\u00a0<\/em><\/p>\n

Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level or skill or training. More information about the advisor, its investment strategies and objectives, is included in the firm\u2019s Form ADV Part 2, which can be obtained, at no charge, by calling (251) 517-7198. Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama. ACA-2305-30.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:   Beckham: The idea that the Fed is going to cut rates continues to move farther into the future     John Luke: mirroring the […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","inline_featured_image":false,"footnotes":""},"categories":[20,194],"tags":[344,57,198,465,464,145,168,382],"class_list":["post-233831","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-consumers","tag-fed","tag-interest-rates","tag-market-cap-weight","tag-mega-cap","tag-recession","tag-stocks","tag-us-treasury"],"yoast_head":"\nThe Market in Pictures, May 26 - Aptus Capital Advisors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-may-26\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Market in Pictures, May 26 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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