{"id":236126,"date":"2024-05-24T12:53:56","date_gmt":"2024-05-24T16:53:56","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=236126"},"modified":"2024-05-24T14:10:31","modified_gmt":"2024-05-24T18:10:31","slug":"the-market-in-pictures-may-22","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-may-22\/","title":{"rendered":"The Market in Pictures, May 24"},"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

Beckham:<\/strong> It\u2019s been a year since \u201cNVDA Day\u201d when stocks broke out of their SIVB-driven funk and turned their eyes toward artificial intelligence<\/em><\/p>\n

\"\"Data as of 05.21.2024<\/p>\n

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

Dave:<\/strong> and the shift has led to big changes from that first mass recognition<\/em><\/p>\n

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

\"\"Source: Strategas as of 05.20.24<\/p>\n

 <\/p>\n

Brett:<\/strong> In general, Q1 earnings were solid for large US companies<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.20.2024<\/p>\n

 <\/p>\n

Joseph:<\/strong> with a continued dominance by the large megacap tech companies<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: Piper Sandler as of 05.20.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> and no sign yet of a shift to the broader market<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Data as of 05.17.2024<\/p>\n

 <\/p>\n

Joseph:<\/strong> Even with mini-spikes like Thursday, VIX readings have fallen into a historically low range that has generally led to a narrow range of slightly positive outcomes<\/em><\/p>\n

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

\"\"<\/strong>Source: Strategas as of 05.21.2024<\/p>\n

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

John Luke: <\/strong>partly a result of investors converging towards a common expectation of the outlook for earnings and inflation<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Data as of 05.21.2024<\/p>\n

 <\/p>\n

Brett:<\/strong> and stocks have generally moved along with the typical pre-election pattern<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong><\/p>\n

 <\/p>\n

JD:<\/strong> Whether an investor got to this point via tortoise or hare, the 5-year endpoint has been about the same<\/em><\/p>\n

 <\/p>\n

\"\"Source: Paulsen Perspectives as of 05.22.2024<\/p>\n

 <\/p>\n

Arch:<\/strong> with investors moving from mutual funds to ETFs, and from active to passive<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: Sandbox Daily as of 05.20.2024<\/p>\n

 <\/p>\n

Arch:<\/strong> and active managers betting that markets will broaden out beyond the Mag 7<\/em><\/p>\n

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

\"\"<\/strong>Sandbox Daily as of 05.20.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> It doesn\u2019t feel like it, but active funds are generally not the ones benefitting from the big tech run<\/em><\/p>\n

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

\"\"<\/strong>Data as of 05.17.2024<\/p>\n

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

Joseph:<\/strong> but there has been a general trend to stay fully invested instead of holding cash<\/em><\/p>\n

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

\"\"Data as of 05.17.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> This inflation cycle is running hotter than the ones in the recent past<\/em><\/p>\n

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

\"\"<\/p>\n

 <\/p>\n

Dave:<\/strong> and higher inflation has historically been accompanied by higher GDP, even when measured in real terms<\/em><\/p>\n

 <\/p>\n

\"\"Source: Paulsen Perspectives as of 05.20.2024<\/p>\n

 <\/p>\n

Joseph:<\/strong> and has had little effect on consumers, especially at the higher end of the income scale<\/em><\/p>\n

 <\/p>\n

\"\"Source: A Wealth of Common Sense as of March 2024<\/p>\n

 <\/p>\n

Brad:<\/strong> By most historical measures, the S&P 500 as a whole is very expensive<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

Joseph:<\/strong> but when you consider the more efficient business models its increasingly \u201casset-lite\u201d makeup, it makes sense that more profitable businesses will trade above historical norms<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

Data as of 05.22.2024<\/p>\n

 <\/p>\n

Brett:<\/strong> and long-term, it has paid to participate in ownership not just work for wages!<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

 <\/p>\n

\u00a0<\/strong>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-2405-21. <\/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: It\u2019s been a year since \u201cNVDA Day\u201d when stocks broke out of their SIVB-driven funk and turned their eyes toward artificial intelligence Data as […]<\/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":[132,615,57,83,179,464,306,473,168,377],"class_list":["post-236126","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-earnings","tag-election","tag-fed","tag-inflation","tag-markets","tag-mega-cap","tag-rate-cuts","tag-services","tag-stocks","tag-tech"],"yoast_head":"\nThe Market in Pictures, May 24 - 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-22\/\" \/>\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 24 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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