{"id":236252,"date":"2024-06-14T13:20:42","date_gmt":"2024-06-14T17:20:42","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=236252"},"modified":"2024-06-14T15:47:55","modified_gmt":"2024-06-14T19:47:55","slug":"the-market-in-pictures-june-14","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-june-14\/","title":{"rendered":"The Market in Pictures, June 14"},"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> FOMC members have very little confidence in their inflation outlooks<\/em><\/p>\n

 <\/p>\n

\"\"Source: FOMC as of 06.12.2024<\/p>\n

 <\/p>\n

Beckham:<\/strong> but we know that the typical consumer is looking at the cumulative impact of the past few years, not what happens month-to-month<\/em><\/p>\n

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

\"\"Source: TS Lombard as of 06.11.2024<\/p>\n

 <\/p>\n

Brad: <\/strong>thankfully, stocks have historically done well when inflation flattened out<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 06.12.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> Armed with this week\u2019s tame inflation data and dovish FOMC comments, markets have shifted rate forecasts lower for the year ahead<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: CME FedWatch Tool<\/p>\n

 <\/p>\n

John Luke:<\/strong> landing on a consensus of a full percentage point of rate cuts by April of next year<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Data as of 06.14.2024<\/p>\n

 <\/p>\n

Joseph:<\/strong> All it took was a slight fall in mortgage rates to see a huge bump in new applications<\/em><\/p>\n

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

\"\"<\/strong>Source: Daily Chartbook as of 06.12.2024<\/p>\n

 <\/p>\n

Brian:<\/strong> which can hopefully confirm the recent fall in recession odds<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: Apollo as of 06.07.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> also being reinforced by comments from corporate CEOs<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 06.07.2024<\/p>\n

 <\/p>\n

Brett:<\/strong> The broader market continues to lag what\u2019s happening at the top end of market capitalization<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Source: Barchart as of 06.13.2024<\/p>\n

 <\/p>\n

Arch:<\/strong> and we\u2019re seeing a wide range of outcomes at the individual stock level<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 06.10.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> We continue to see performance dominance by the biggest of the big<\/em><\/p>\n

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

\"\"<\/strong>Source: Strategas as of 06.10.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> and not only a continuation but an actual acceleration<\/em><\/p>\n

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

\"\"<\/strong>Source: Goldman Sachs as of 06.12.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> that said, the dominance is not totally unjustified, as the largest companies are also delivering the best business performance<\/em><\/p>\n

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

\"\"<\/strong>Source: Strategas as of 06.14.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> and as a whole, the S&P 500 valuation increase has run parallel with high cash flow generation as asset-light models expand<\/em><\/p>\n

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

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

 <\/p>\n

Brian:<\/strong> \u201cT-Bill and Chill\u201d sounds great until you see your purchasing power erode year after year!<\/em><\/p>\n

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

\"\"Source: Aptus via Bloomberg<\/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-2406-17. <\/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: FOMC members have very little confidence in their inflation outlooks   Source: FOMC as of 06.12.2024   Beckham: but we know that the […]<\/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":[83,179,330,168],"class_list":["post-236252","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-inflation","tag-markets","tag-mortgage","tag-stocks"],"yoast_head":"\nThe Market in Pictures, June 14 - 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-june-14\/\" \/>\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, June 14 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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