The Market in Pictures, April 25

by | Apr 25, 2025 | Blog, Charts

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 Edges as of 04.18.2025

 

 

Jake: and finished with (positive) breadth thrusts

 

Data as of 04.24.2025

 

 

Beckham: Through the correction, the broader market of stocks had held up better than the concentrated leaders at the top

 

Image via @ryandetrick

 

 

Brett: and then were treated to an amazing display of strength across the index

 

 

 

Ten: With the US dollar selloff, the drawdown in equities was even harsher for foreign holders of US stocks

 

Data as of 04.22.2025

 

 

Joseph: which comes after a period of increasing ownership of US stocks in those countries

 

Source: TS Lombard as of 04.17.2025

 

 

Beckham: It’s not just access to cheap consumer items that spooked markets

 

Source: Apollo as of 04.19.2025

 

 

Brian: and we’ll soon be better able to evaluate the economic impact as shipping activity falls

 

 

 

Joseph: either way, investors seem to feel most comfortable with Treasury Secretary Bessent as the economic voice

 

 

 

Arch: By this composite measure of conditions, access to money is close to the midpoint of the historical range

 

 

 

Brad: but fund managers responding to surveys are bracing for an increased chance of recession

 

Data as of 04.17.2025

 

 

Brad: yet credit spreads remain tame relative to past periods of economic weakness

 

 

 

Dave: Much of the economic debate remains split between hard (actual) and soft (survey) data

 

Data as of 04.17.2025

 

 

Arch: and companies themselves aren’t sure how best to navigate (current) risk and (future) opportunity

 

Data as of 04.17.2025

 

 

Brad: When it comes to stocks, fund managers have gotten themselves pretty bearish

 

Data as of 04.17.2025

 

 

Joseph: and when it comes to buying plans, US stocks have become a target for reduction

 

Data as of 04.17.2025

 

 

Brian: For better or worse, this puts “professional” investors in the same camp as the often-mocked amateurs

 

Source: Bloomberg as of 04.17.2025

 

 

Dave: It’s a hard quarter to evaluate, but ultimately earnings will be the driver of future stock prices, with 2026 becoming more relevant

 

Data as of 04.23.2025

 

 

John Luke: a big challenge will be threading the needle on costs vs. pricing, at least in the short-term

 

Source: Bloomberg as of 04.21.2025

 

 

JD: and in general, non-tech companies have faced too much competition to create a whole lot of cushion

 

Data as of March 2025

 

 

John Luke: For context, a history of significant US equity drawdowns and the paths to recapturing all-time highs

 

Data as of 04.17.2025

 

 

 

Disclosures

 

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.

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Advisory services 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’s 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.

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