{"id":235408,"date":"2024-01-19T11:14:03","date_gmt":"2024-01-19T16:14:03","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=235408"},"modified":"2024-01-19T16:19:37","modified_gmt":"2024-01-19T21:19:37","slug":"the-market-in-pictures-january-19","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-january-19\/","title":{"rendered":"The Market in Pictures, January 19"},"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

John Luke:<\/strong> It\u2019s no secret that central banks plan to cut rates this year<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 01.12.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> and US markets are way out in front of the FOMC in anticipating how many cuts can come in 2024<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 01.17.2024<\/p>\n

 <\/p>\n

Beckham:<\/strong> We\u2019re getting into the time window when unemployment has historically risen following a rate hike cycle<\/em><\/p>\n

 <\/p>\n

\"\"Source: Piper Jaffray as of 01.15.2024<\/p>\n

 <\/p>\n

Brian:<\/strong> but there\u2019s been no sign of sustained weakness in the job market<\/em><\/p>\n

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

\"\"Source: Daily Chartbook as of 01.18.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> On top of that, the general trend in business activity is still well above its pre-COVID trendline<\/em><\/p>\n

 <\/p>\n

\"\"Source: Piper Jaffray as of 01.15.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> and credit spreads are still signaling zero trouble in the economy<\/em><\/p>\n

 <\/p>\n

\"\"Source: Daily Chartbook as of 01.18.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> High beta stocks have really lagged in the early days of 2024<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 01.16.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> but smaller stocks have often done well following periods of poor market breadth, with 2023 one of the most pronounced divergences<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

John Luke:<\/strong> and while it\u2019s yet to stick in this decade, small caps have been very reliable in keeping up with inflation<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

Joseph:<\/strong> Besides small vs. large, there\u2019s been a clearly diverging path between growth and value these past two years<\/em><\/p>\n

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

\"\"<\/p>\n

 <\/p>\n

Dave:<\/strong> and on balance, value stocks have historically held an edge in election years such as 2024<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

Brett:<\/strong> The US continues to grow in its domination over global investment benchmarks<\/em><\/p>\n

 <\/p>\n

\"\"Source: Longtermtrends as of 01.16.2024<\/p>\n

 <\/p>\n

Brian:<\/strong> partly a result of our consistent edge in growth vs. most developed regions<\/em><\/p>\n

 <\/p>\n

\"\"Source: Apollo as of 01.12.2024<\/p>\n

 <\/p>\n

Mark:<\/strong> It\u2019s wild to see forecasters multiply earnings by a P\/E ratio to guess where stocks are fairly valued, the range of outcomes is just so wide<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

Brett:<\/strong> which is why we place zero value on where Wall Street \u201cstrategists\u201d estimate future targets for stock prices<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 12.29.2023<\/p>\n

 <\/p>\n

 <\/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

\u00a0<\/em>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

\u00a0<\/em>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-2401-30.<\/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:   John Luke: It\u2019s no secret that central banks plan to cut rates this year   Data as of 01.12.2024   John Luke: and US […]<\/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":[361,179,316,168],"class_list":["post-235408","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-job-market","tag-markets","tag-rates","tag-stocks"],"yoast_head":"\nThe Market in Pictures, January 19 - 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-january-19\/\" \/>\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, January 19 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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