{"id":238146,"date":"2025-04-25T13:29:40","date_gmt":"2025-04-25T17:29:40","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=238146"},"modified":"2025-04-25T16:23:43","modified_gmt":"2025-04-25T20:23:43","slug":"the-market-in-pictures-april-25","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-april-25\/","title":{"rendered":"The Market in Pictures, April 25"},"content":{"rendered":"

Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from rare timing setups and market breadth to the economy, earnings, and US\/foreign market exposures. Enjoy!<\/p>\n

 <\/p>\n

Brian:<\/strong> We started the week with talk of (negative) death crosses<\/em><\/p>\n

 <\/p>\n

\"\"Source: Quantifiable Edges as of 04.18.2025<\/p>\n

 <\/p>\n

 <\/p>\n

Jake:<\/strong> and finished with (positive) breadth thrusts<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.24.2025<\/p>\n

 <\/p>\n

 <\/p>\n

Beckham:<\/strong> Through the correction, the broader market of stocks had held up better than the concentrated leaders at the top<\/em><\/p>\n

 <\/p>\n

\"\"Image via @ryandetrick<\/p>\n

 <\/p>\n

 <\/p>\n

Brett:<\/strong> and then were treated to an amazing display of strength across the index<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

Ten:<\/strong> With the US dollar selloff, the drawdown in equities was even harsher for foreign holders of US stocks<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.22.2025<\/p>\n

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

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

Joseph:<\/strong> which comes after a period of increasing ownership of US stocks in those countries<\/em><\/p>\n

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

\"\"Source: TS Lombard as of 04.17.2025<\/p>\n

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

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

Beckham:<\/strong> It\u2019s not just access to cheap consumer items that spooked markets<\/em><\/p>\n

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

\"\"Source: Apollo as of 04.19.2025<\/p>\n

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

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

Brian:<\/strong> and we\u2019ll soon be better able to evaluate the economic impact as shipping activity falls<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

Joseph:<\/strong> either way, investors seem to feel most comfortable with Treasury Secretary Bessent as the economic voice<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

Arch:<\/strong> By this composite measure of conditions, access to money is close to the midpoint of the historical range<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

Brad:<\/strong> but fund managers responding to surveys are bracing for an increased chance of recession<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.17.2025<\/p>\n

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

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

Brad:<\/strong> yet credit spreads remain tame relative to past periods of economic weakness<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

Dave:<\/strong> Much of the economic debate remains split between hard (actual) and soft (survey) data<\/em><\/p>\n

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

\"\"Data as of 04.17.2025<\/p>\n

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

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

Arch:<\/strong> and companies themselves aren\u2019t sure how best to navigate (current) risk and (future) opportunity<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.17.2025<\/p>\n

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

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

Brad:<\/strong> When it comes to stocks, fund managers have gotten themselves pretty bearish<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.17.2025<\/p>\n

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

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

Joseph:<\/strong> and when it comes to buying plans, US stocks have become a target for reduction<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.17.2025<\/p>\n

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

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

Brian:<\/strong> For better or worse, this puts \u201cprofessional\u201d investors in the same camp as the often-mocked amateurs<\/em><\/p>\n

 <\/p>\n

\"\"Source: Bloomberg as of 04.17.2025<\/p>\n

 <\/p>\n

 <\/p>\n

Dave:<\/strong> It\u2019s a hard quarter to evaluate, but ultimately <\/em>earnings will be the driver of future stock prices, with 2026 becoming more relevant<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.23.2025<\/p>\n

 <\/p>\n

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

John Luke:<\/strong> a big challenge will be threading the needle on costs vs. pricing, at least in the short-term<\/em><\/p>\n

 <\/p>\n

\"\"Source: Bloomberg as of 04.21.2025<\/p>\n

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

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

JD:<\/strong> and in general, non-tech companies have faced too much competition to create a whole lot of cushion<\/em><\/p>\n

 <\/p>\n

\"\"Data as of March 2025<\/p>\n

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

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

John Luke:<\/strong> For context, a history of significant US equity drawdowns and the paths to recapturing all-time highs<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 04.17.2025<\/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 of 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-2504-28. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Our team looks at a lot of research throughout the day. Here are a handful that we think are good summations of investor activity, from rare timing setups and market breadth to the economy, earnings, and US\/foreign market exposures. Enjoy!   Brian: We started the week with talk of (negative) death crosses   Source: Quantifiable […]<\/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":[84,717,276,716,168,715,439],"class_list":["post-238146","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-bonds","tag-index","tag-sp-500","tag-spx","tag-stocks","tag-treasury-yield","tag-us-dollar"],"yoast_head":"\nThe Market in Pictures, April 25 - 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-25\/\" \/>\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 25 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout the day. 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