{"id":238317,"date":"2025-05-23T13:23:30","date_gmt":"2025-05-23T17:23:30","guid":{"rendered":"https:\/\/aptuscapitaladvisors.com\/?p=238317"},"modified":"2025-05-23T15:23:42","modified_gmt":"2025-05-23T19:23:42","slug":"the-market-in-pictures-may-23","status":"publish","type":"post","link":"https:\/\/aptuscapitaladvisors.com\/the-market-in-pictures-may-23\/","title":{"rendered":"The Market in Pictures, May 23"},"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 rising yields and the economy, to earnings and tariffs and valuations. Enjoy!<\/p>\n

 <\/p>\n

Beckham:<\/strong> Rising yields is not just a U.S. phenomenon<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.22.2025<\/p>\n

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

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

John Luke:<\/strong> though if you look at the past couple of years, it\u2019s just been a rolling series of shifting narratives<\/em><\/p>\n

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

\"\"Source: Piper Jaffray as of 05.21.2025<\/p>\n

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

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

John Luke:<\/em><\/strong> either way, there\u2019s no escaping the sharp rise in borrowing costs for the U.S. government<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.16.2025<\/p>\n

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

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

Brad:<\/strong> The current rates yo-yo revolves around the ongoing news cycle of high tariffs vs. low tariffs, and how that might flow into the Fed\u2019s rate plans<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.20.2025<\/p>\n

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

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

John Luke:<\/strong> Stepping away from the tariff discussions, conditions for a severe recession just don\u2019t seem to be there<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.19.2025<\/p>\n

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

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

Joseph:<\/strong> and consumers in general remain in very good shape with respect to debt<\/em><\/p>\n

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

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

Brian:<\/strong> Younger buyers continue to have a hard time entering the housing market<\/em><\/p>\n

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

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

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

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

Jake:<\/strong> which takes away a huge population of potential buyers in a market where prices have generally flattened<\/em><\/p>\n

 <\/p>\n

\"\"Data as of 05.16.2025<\/p>\n

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

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

Brett:<\/strong> For the first time since before the tariff tantrum, consensus earnings estimates are rising<\/em><\/p>\n

 <\/p>\n

\"\"Source: @LizAnnSonders<\/p>\n

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

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

John Luke:<\/em><\/strong> with Mag 7 stocks leading the way with generally strong outlooks coming out of earnings calls<\/em><\/p>\n

 <\/p>\n

\"\"Source: The Market Ear as of 05.19.2025<\/p>\n

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

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

Dave:<\/em><\/strong> and that better relative earnings performance has narrowed the valuation gap between the Mag 7 names and the rest of the market<\/em><\/p>\n

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

\"\"Source: The Market Ear as of 05.19.2025<\/p>\n

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

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

Arch:<\/em><\/strong> The cost of money has historically impacted equity valuations more in periods of positive correlation between stocks and bonds<\/em><\/p>\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

 <\/p>\n

\u00a0<\/strong><\/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 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-2505-21. <\/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 rising yields and the economy, to earnings and tariffs and valuations. Enjoy!   Beckham: Rising yields is not just a U.S. phenomenon   Data as of 05.22.2025 \u00a0 \u00a0 John […]<\/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":[84,132,729,644,316,168,56],"class_list":["post-238317","post","type-post","status-publish","format-standard","hentry","category-blog","category-charts","tag-bonds","tag-earnings","tag-homebuyer","tag-mag-7","tag-rates","tag-stocks","tag-tariffs"],"yoast_head":"\nThe Market in Pictures, May 23 - 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-23\/\" \/>\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 23 - Aptus Capital Advisors\" \/>\n<meta property=\"og:description\" content=\"Our team looks at a lot of research throughout the day. 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