{"id":235961,"date":"2024-04-26T13:32:29","date_gmt":"2024-04-26T17:32:29","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=235961"},"modified":"2024-04-26T16:30:19","modified_gmt":"2024-04-26T20:30:19","slug":"the-market-in-pictures-april-26","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/","title":{"rendered":"The Market in Pictures, April 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

John Luke:<\/strong> Like savers vs. borrowers, there is a huge split right now between services and goods inflation<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.21.2024<\/p>\n

 <\/p>\n

Beckham:<\/strong> and the stickiness of services inflation is what\u2019s keeping the FOMC in this long \u201cpause\u201d mode<\/em><\/p>\n

 <\/p>\n

\"\"Source: Apollo as of 04.19.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> historically speaking, stocks can continue to perform in an inflationary environment as long as the economy holds up<\/em><\/p>\n

 <\/p>\n

\"\"Source: Ned Davis Research as of 04.12.2024<\/p>\n

 <\/p>\n

Brett:<\/strong> On the other end of the spectrum, bonds have been unable to sustain a bounce in this higher-inflation regime<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: Fidelity as of 04.14.2024<\/p>\n

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

Dave:<\/strong> with some fixed-income ETFs producing nearly the same volatility as supposedly \u201criskier\u201d stocks<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: Strategas as of 04.22.2024<\/p>\n

 <\/p>\n

Joseph:<\/strong> and the bond bear market extending into easily the worst environment since the inception of the aggregate bond index<\/em><\/p>\n

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

\"\"<\/strong>Source: Strategas as of 04.22.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> One key driver of sticky inflation is tight labor supply<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: BCA Research as of March 2024<\/p>\n

 <\/p>\n

Brad:<\/strong> and as anyone who flies can confirm, airport activity is back to its highs after the COVID-induced slump<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: @staunovo as of March 2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> The split between savers and borrowers is quite pronounced in major US corporations, leading to REDUCED interest expense despite higher rates<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Data as of March 2024<\/p>\n

 <\/p>\n

Beckham:<\/strong> with similar activity on the personal side, it\u2019s been a long time since banks have seen the interest margins they\u2019d like<\/em><\/p>\n

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

\"\"<\/strong>Data as of March 2024<\/p>\n

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

John Luke:<\/strong> but on the other end of things, the government can\u2019t issue debt fast enough and the public is poised to be the big buyers<\/em><\/p>\n

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

\"\"<\/strong>Source: CBO as of March 2024<\/p>\n

 <\/p>\n

Dave:<\/strong> Q1 earnings are underway, with modest gains expected<\/em><\/p>\n

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

\"\"<\/strong>Source: Goldman Sachs as of 04.19.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> with larger growth expected as we get into Q2<\/em><\/p>\n

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

\"\"Source: DataTrek as of 04.22.2024<\/p>\n

 <\/p>\n

Brian:<\/strong> and on a long-term basis, the continuation of a healthy long-term trend<\/em><\/p>\n

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

\"\"Source: Apollo as of 04.22.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> Despite talk of converting our economy to \u201cclean\u201d energy, US oil production has never been higher<\/em><\/p>\n

 <\/p>\n

\"\"Data as of March 2024<\/p>\n

 <\/p>\n

Joseph:<\/strong> making us less and less dependent on foreign countries for our energy supply<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

John Luke:<\/strong> Another interesting trend that requires looking globally, wage growth and higher-end labor has been mostly a US experience in recent years<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

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

Brian:<\/strong> We hear a lot about the Mag 7 but this has truly been a historic divergence between cap-weighted US Large Caps and their equal-weighted equivalent<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Source: Paulsen Perspectives as of 04.19.2024<\/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

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-2404-31.<\/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: Like savers vs. borrowers, there is a huge split right now between services and goods inflation   Data as of 04.21.2024   Beckham: […]<\/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":[53,376,132,83,179,354],"class_list":["post-235961","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-cpi","tag-debt","tag-earnings","tag-inflation","tag-markets","tag-oil"],"yoast_head":"\nThe Market in Pictures, April 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-april-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, April 26 - 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: John Luke: Like savers vs. borrowers, there is a huge split right now between services and goods inflation   Data as of 04.21.2024   Beckham: […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/\" \/>\n<meta property=\"og:site_name\" content=\"Aptus Capital Advisors\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-26T17:32:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-26T20:30:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2024\/04\/12-mo-core-CPI_Bianco-4.21.24.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=\"7 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-april-26\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/\"},\"author\":{\"name\":\"Aptus PM Team\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/ad43972730756fb6d6e01e61090f21c2\"},\"headline\":\"The Market in Pictures, April 26\",\"datePublished\":\"2024-04-26T17:32:29+00:00\",\"dateModified\":\"2024-04-26T20:30:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/\"},\"wordCount\":681,\"publisher\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#organization\"},\"keywords\":[\"CPI\",\"debt\",\"earnings\",\"inflation\",\"markets\",\"oil\"],\"articleSection\":[\"Blog\",\"Charts\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/\",\"url\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/\",\"name\":\"The Market in Pictures, April 26 - Aptus Capital Advisors\",\"isPartOf\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/#website\"},\"datePublished\":\"2024-04-26T17:32:29+00:00\",\"dateModified\":\"2024-04-26T20:30:19+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/aptuscapitaladvisors.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Market in Pictures, April 26\"}]},{\"@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, April 26 - 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-april-26\/","og_locale":"en_US","og_type":"article","og_title":"The Market in Pictures, April 26 - 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: John Luke: Like savers vs. borrowers, there is a huge split right now between services and goods inflation   Data as of 04.21.2024   Beckham: […]","og_url":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/","og_site_name":"Aptus Capital Advisors","article_published_time":"2024-04-26T17:32:29+00:00","article_modified_time":"2024-04-26T20:30:19+00:00","og_image":[{"url":"https:\/\/aptuscapitaladvisors.com\/wp-content\/uploads\/2024\/04\/12-mo-core-CPI_Bianco-4.21.24.png"}],"author":"Aptus PM Team","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Aptus PM Team","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/#article","isPartOf":{"@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/"},"author":{"name":"Aptus PM Team","@id":"https:\/\/aptuscapitaladvisors.com\/#\/schema\/person\/ad43972730756fb6d6e01e61090f21c2"},"headline":"The Market in Pictures, April 26","datePublished":"2024-04-26T17:32:29+00:00","dateModified":"2024-04-26T20:30:19+00:00","mainEntityOfPage":{"@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/"},"wordCount":681,"publisher":{"@id":"https:\/\/aptuscapitaladvisors.com\/#organization"},"keywords":["CPI","debt","earnings","inflation","markets","oil"],"articleSection":["Blog","Charts"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/","url":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/","name":"The Market in Pictures, April 26 - Aptus Capital Advisors","isPartOf":{"@id":"https:\/\/aptuscapitaladvisors.com\/#website"},"datePublished":"2024-04-26T17:32:29+00:00","dateModified":"2024-04-26T20:30:19+00:00","breadcrumb":{"@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-26\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/aptuscapitaladvisors.com\/"},{"@type":"ListItem","position":2,"name":"The Market in Pictures, April 26"}]},{"@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\/235961","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=235961"}],"version-history":[{"count":0,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/posts\/235961\/revisions"}],"wp:attachment":[{"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/media?parent=235961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/categories?post=235961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aptuscapitaladvisors.com\/wp-json\/wp\/v2\/tags?post=235961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}