{"id":234662,"date":"2023-10-13T12:37:49","date_gmt":"2023-10-13T16:37:49","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=234662"},"modified":"2023-10-13T18:38:55","modified_gmt":"2023-10-13T22:38:55","slug":"the-market-in-pictures-october-13","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-october-13\/","title":{"rendered":"The Market in Pictures, October 13"},"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>: Earnings estimates show a turn, with the cuts now in the rearview mirror<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 10.05.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> but it\u2019s interesting to note that estimates further out were never really cut<\/p>\n

 <\/p>\n

\"\"Source: Bianco as of 10.09.2023<\/p>\n

 <\/p>\n

John Luke:<\/strong> and trends going into this season are really divided, depending on the sector<\/em><\/p>\n

 <\/p>\n

\"\"Source: Bernstein<\/p>\n

 <\/p>\n

Brad:<\/strong> It\u2019s also important to distinguish by size, as the rate hikes have impacted smaller companies much more than larger ones<\/em><\/p>\n

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

\"\"Source: Strategas as of 10.10.2023<\/p>\n

 <\/p>\n

Joseph:<\/strong> which accelerates the trend we\u2019ve seen since the GFC in large caps staying more lean than small caps<\/em><\/p>\n

 <\/p>\n

\"\"Source: PGM as of 10.09.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> Credit spreads can be a canary in the coal mine, bouncing a bit but still near historic lows<\/em><\/p>\n

 <\/p>\n

\"\"Source: Strategas as of 10.12.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> same with consumer credit, delinquencies bouncing from lows but general debt levels are low<\/em><\/p>\n

\"\"<\/p>\n

Source: BofA as of 10.10.2023<\/p>\n

 <\/p>\n

Brett:<\/strong> also watching jobless claims, they remain low but one leading indicator warrants a closer look<\/em><\/p>\n

 <\/p>\n

\"\"Source: Pantheon Macro via Daily Shot as of 10.12.2023<\/p>\n

 <\/p>\n

Brad:<\/strong> The price of gas gets all of the Main Street chatter, but its impact has consistently fallen over time<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

Joseph:<\/strong> and US energy producers have used technology to crank out extra oil per rig in recent years<\/em><\/p>\n

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

\"\"<\/p>\n

 <\/p>\n

Dave:<\/strong> Rising real rates have been the story of the past year, as long-term inflation expectations haven\u2019t budged<\/em><\/p>\n

 <\/p>\n

\"\"Source: BofA as of 10.09.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> and the bond vigilantes are back, pushing the Federal government to slow its spending growth<\/em><\/p>\n

 <\/p>\n

\"\"Source: Morgan Stanley as of 10.06.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> as if the looming wall of maturing federal debt shouldn\u2019t already be putting the spenders on alert<\/em><\/p>\n

 <\/p>\n

\"\"Source: Strategas as of September 2023<\/p>\n

 <\/p>\n

Beckham:<\/strong> Take note, our chosen industry is the one deemed most ripe for artificial intelligence (AI) impact <\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

Brad:<\/strong> We don\u2019t make our decisions based on the calendar, but mid-October through the end of the year has historically had a positive impact on returns<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

\u00a0<\/strong><\/p>\n

\u00a0<\/strong><\/p>\n

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><\/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-2310-20.<\/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: Earnings estimates show a turn, with the cuts now in the rearview mirror   Data as of 10.05.2023   Dave: but it\u2019s interesting […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","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":[194],"tags":[477,84,376,132,94],"class_list":["post-234662","post","type-post","status-publish","format-standard","hentry","category-charts","tag-ai","tag-bonds","tag-debt","tag-earnings","tag-energy"],"yoast_head":"\nThe Market in Pictures, October 13 - 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-october-13\/\" \/>\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, October 13 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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