{"id":236600,"date":"2024-08-02T12:00:48","date_gmt":"2024-08-02T16:00:48","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=236600"},"modified":"2024-08-02T15:33:52","modified_gmt":"2024-08-02T19:33:52","slug":"the-market-in-pictures-august-2","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-august-2\/","title":{"rendered":"The Market in Pictures, August 2"},"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> It only took a week for markets to go from an 11% chance to a 72% chance of 50 bps of rate cuts by the September FOMC meeting<\/em><\/p>\n

 <\/p>\n

\"\"Source: CME FedWatch Tool as of 08.02.2024<\/p>\n

 <\/p>\n

John Luke:<\/strong> as for the long-end of the curve, history says most of the price impact of a cutting cycle takes place into and during the first cut, at least in soft landings<\/em><\/p>\n

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

\"\"Data as of 07.31.2024<\/p>\n

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

Brett:<\/strong> Home inventory has picked up from very low levels, hard to guess future prices but falling mortgage rates could trigger both demand and supply, for those who’ve been reluctant to give up their existing loan<\/em><\/p>\n

 <\/p>\n

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

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

Brian:<\/strong> and rates play a big role in setting the total return potential of home ownership<\/em><\/p>\n

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

\"\"<\/strong>Source: Aptus Calculations<\/p>\n

 <\/p>\n

Joseph:<\/strong> Japanese stocks have quickly gone from leader to laggard in recent weeks<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Data as of 08.01.2024<\/p>\n

 <\/p>\n

Arch:<\/strong> partly triggered by abrupt strength in the Japanese yen on higher rates<\/em><\/p>\n

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

\"\"<\/strong>Source: Trading View as of 08.02.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> The splitting apart of the Russell 2000 and S&P 500 in recent weeks is quite the outlier<\/em><\/p>\n

 <\/p>\n

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

 <\/p>\n

Joseph:<\/strong> with much of it driven by size not beta, even if Big Tech may be misclassified as higher beta to an extent<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 07.31.2024<\/p>\n

 <\/p>\n

JD:<\/strong> but there\u2019s no denying the massive dispersion that\u2019s taken place, even inside the S&P 500 itself<\/em><\/p>\n

 <\/p>\n

\"\"<\/strong>Data as of 08.01.2024<\/p>\n

 <\/p>\n

Beckham:<\/strong> Reactions to earnings results have been the wildest of the past decade<\/em><\/p>\n

 <\/p>\n

\"\"Source: @ljkawa as of 08.01.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> though in general, results have been solidly above expectations<\/em><\/p>\n

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

\"\"<\/strong>Source: Strategas as of 07.30.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> with future sales growth estimates trending steadily higher<\/em><\/p>\n

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

\"\"<\/strong>Source: Strategas as of 07.30.2024<\/p>\n

 <\/p>\n

Brad:<\/strong> Companies sourcing a larger share of their revenues overseas are seeing the highest growth rates<\/em><\/p>\n

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

\"\"<\/strong>Data as of 07.26.2024<\/p>\n

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

John Luke:<\/strong> and it\u2019s pretty clear in the data which highly-populated economy is actually growing<\/em><\/p>\n

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

\"\"Source: Apollo as of 08.01.2024<\/p>\n

 <\/p>\n

Dave:<\/strong> With the pullback currently underway in stocks, it looks like these high-water marks will stay valid for a bit, awaiting fresh leadership<\/em><\/p>\n

 <\/p>\n

\"\" Source: Strategas as of 07.25.2024<\/em><\/p>\n

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

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

\u00a0<\/em><\/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-2408-6.<\/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 only took a week for markets to go from an 11% chance to a 72% chance of 50 bps of rate cuts […]<\/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":[132,179,330,316,582,276,168,377,178],"class_list":["post-236600","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-earnings","tag-markets","tag-mortgage","tag-rates","tag-russell-2000","tag-sp-500","tag-stocks","tag-tech","tag-yields"],"yoast_head":"\nThe Market in Pictures, August 2 - 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-august-2\/\" \/>\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, August 2 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout each day. 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