{"id":234914,"date":"2023-12-01T15:23:16","date_gmt":"2023-12-01T20:23:16","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=234914"},"modified":"2023-12-01T15:23:16","modified_gmt":"2023-12-01T20:23:16","slug":"the-market-in-pictures-december-1","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/","title":{"rendered":"The Market in Pictures, December 1"},"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> We just completed a 2 year period where both the NASDAQ 100 and S&P 500 Equal Weight were flat. Lot of noise for no progress!<\/em><\/p>\n

\"\"<\/p>\n

Source: Bespoke as of 11.30.2023<\/p>\n

 <\/p>\n

Brad:<\/strong> that said, November delivered the biggest monthly ease in financial conditions of the past 40 years<\/em><\/p>\n

 <\/p>\n

\"\"Source: Goldman Sachs as of 12.01.2023<\/p>\n

 <\/p>\n

Brett:<\/strong> with bonds contributing a hefty portion of that easing<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 11.29.2023<\/p>\n

 <\/p>\n

John Luke:<\/strong> Markets have jumped way out in front of the Fed, anticipating rate cuts in by the end of 2024<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 11.27.2023<\/p>\n

 <\/p>\n

Brad:<\/strong> Real yields are still near the highest levels since the financial crisis<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 11.25.2023<\/p>\n

 <\/p>\n

Joseph:<\/strong> but they\u2019ve come off of the multi-year highs made throughout the fall<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\u00a0<\/em>Data as of 11.28.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> The catalyst for the November surge seems to be fresh comfort that the Fed has inflation under control<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Raymond James as of 11.27.2023<\/p>\n

 <\/p>\n

John Luke:<\/strong> as investors work back from an extreme period of underestimating inflation<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Corbu as of 11.24.2023<\/p>\n

 <\/p>\n

John Luke:<\/strong> though it will be interesting to see how things play out if the wide dispersion of monthly outcomes settles into something steadier<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Strategas as of 11.20.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> The other key piece to market outcomes is actual earnings. After major rotation between sectors and styles, markets are expecting things to converge in 2024<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Raymond James as of 11.24.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> and while Mag 7 may have run well ahead of its earnings impact<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Strategas as of 11.27.2023<\/p>\n

 <\/p>\n

Dave:<\/strong> they\u2019re part of sectors (tech\/communications\/consumer discretionary) that have also delivered the strongest earnings<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

\u00a0<\/em>Source: Strategas as of 11.27.2023<\/p>\n

 <\/p>\n

Joseph:<\/strong> Before we share Wall Street\u2019s 2024 Strategist Targets, let\u2019s revisit their 2023 forecasts<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 12.07.2022<\/p>\n

 <\/p>\n

John Luke:<\/strong> so take these with a grain of salt<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 11.27.2023<\/p>\n

 <\/p>\n

Brad:<\/strong> One thing to consider in the rates market is the impact of the huge US government debt maturing in the next 12 months<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Strategas as of 11.27.2023<\/p>\n

 <\/p>\n

Brett:<\/strong> but thankfully many US corporations and consumers have been relative beneficiaries of the higher rate cycle<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of November 2023<\/p>\n

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

Disclosures<\/strong><\/p>\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>\u00a0<\/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>\u00a0<\/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-2312-2.<\/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: We just completed a 2 year period where both the NASDAQ 100 and S&P 500 Equal Weight were flat. Lot of noise for […]<\/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":[20,194],"tags":[],"class_list":["post-234914","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts"],"yoast_head":"\nThe Market in Pictures, December 1 - 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-december-1\/\" \/>\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, December 1 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"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: We just completed a 2 year period where both the NASDAQ 100 and S&P 500 Equal Weight were flat. Lot of noise for […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/\" \/>\n<meta property=\"og:site_name\" content=\"Aptus Capital Advisors\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-01T20:23:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/12\/2-Yr-Flat-Bespoke-11.30.png\" \/>\n<meta name=\"author\" content=\"Aptus PM Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aptus PM Team\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/\"},\"author\":{\"name\":\"Aptus PM Team\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/ad43972730756fb6d6e01e61090f21c2\"},\"headline\":\"The Market in Pictures, December 1\",\"datePublished\":\"2023-12-01T20:23:16+00:00\",\"dateModified\":\"2023-12-01T20:23:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/\"},\"wordCount\":620,\"publisher\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#organization\"},\"articleSection\":[\"Blog\",\"Charts\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/\",\"url\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/\",\"name\":\"The Market in Pictures, December 1 - Aptus Capital Advisors\",\"isPartOf\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#website\"},\"datePublished\":\"2023-12-01T20:23:16+00:00\",\"dateModified\":\"2023-12-01T20:23:16+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/aptuscapitaladvisors.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Market in Pictures, December 1\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#website\",\"url\":\"https:\/\/aptuscapitaladvisors.com\/\",\"name\":\"Aptus Capital Advisors\",\"description\":\"Portfolio Management for Wealth Managers\",\"publisher\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/aptuscapitaladvisors.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#organization\",\"name\":\"Aptus Capital Advisors\",\"url\":\"https:\/\/aptuscapitaladvisors.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2019\/12\/logo@2x-1.png\",\"contentUrl\":\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2019\/12\/logo@2x-1.png\",\"width\":674,\"height\":200,\"caption\":\"Aptus Capital Advisors\"},\"image\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/ad43972730756fb6d6e01e61090f21c2\",\"name\":\"Aptus PM Team\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/20ec7920e91ee6bd3bb62c5be1a1313b?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/20ec7920e91ee6bd3bb62c5be1a1313b?s=96&d=mm&r=g\",\"caption\":\"Aptus PM Team\"},\"url\":\"https:\/\/aptuscapitaladvisors.com\/author\/aptus-pm-team\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Market in Pictures, December 1 - Aptus Capital Advisors","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/","og_locale":"en_US","og_type":"article","og_title":"The Market in Pictures, December 1 - Aptus Capital Advisors","og_description":"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: We just completed a 2 year period where both the NASDAQ 100 and S&P 500 Equal Weight were flat. Lot of noise for […]","og_url":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/","og_site_name":"Aptus Capital Advisors","article_published_time":"2023-12-01T20:23:16+00:00","og_image":[{"url":"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2023\/12\/2-Yr-Flat-Bespoke-11.30.png"}],"author":"Aptus PM Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Aptus PM Team","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/#article","isPartOf":{"@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/"},"author":{"name":"Aptus PM Team","@id":"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/ad43972730756fb6d6e01e61090f21c2"},"headline":"The Market in Pictures, December 1","datePublished":"2023-12-01T20:23:16+00:00","dateModified":"2023-12-01T20:23:16+00:00","mainEntityOfPage":{"@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/"},"wordCount":620,"publisher":{"@id":"https:\/\/aptuscapitaladvisors.com\/#organization"},"articleSection":["Blog","Charts"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/","url":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/","name":"The Market in Pictures, December 1 - Aptus Capital Advisors","isPartOf":{"@id":"https:\/\/aptuscapitaladvisors.com\/#website"},"datePublished":"2023-12-01T20:23:16+00:00","dateModified":"2023-12-01T20:23:16+00:00","breadcrumb":{"@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-december-1\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/aptuscapitaladvisors.com\/"},{"@type":"ListItem","position":2,"name":"The Market in Pictures, December 1"}]},{"@type":"WebSite","@id":"https:\/\/aptuscapitaladvisors.com\/#website","url":"https:\/\/aptuscapitaladvisors.com\/","name":"Aptus Capital Advisors","description":"Portfolio Management for Wealth Managers","publisher":{"@id":"https:\/\/aptuscapitaladvisors.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/aptuscapitaladvisors.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/aptuscapitaladvisors.com\/#organization","name":"Aptus Capital Advisors","url":"https:\/\/aptuscapitaladvisors.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/aptuscapitaladvisors.com\/#\/schema\/logo\/image\/","url":"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2019\/12\/logo@2x-1.png","contentUrl":"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2019\/12\/logo@2x-1.png","width":674,"height":200,"caption":"Aptus Capital Advisors"},"image":{"@id":"https:\/\/aptuscapitaladvisors.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/ad43972730756fb6d6e01e61090f21c2","name":"Aptus PM Team","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/20ec7920e91ee6bd3bb62c5be1a1313b?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/20ec7920e91ee6bd3bb62c5be1a1313b?s=96&d=mm&r=g","caption":"Aptus PM Team"},"url":"https:\/\/aptuscapitaladvisors.com\/author\/aptus-pm-team\/"}]}},"_links":{"self":[{"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/posts\/234914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/comments?post=234914"}],"version-history":[{"count":0,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/posts\/234914\/revisions"}],"wp:attachment":[{"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/media?parent=234914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/categories?post=234914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/tags?post=234914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}