Our team looks at a lot of research throughout the day. Here are a handful of charts we think are good summations of investor activity, from a continuing bull market, to rising earnings and margins, a global revenue surge led by AI spending, and economic data making the Fed’s job a tricky one. Have a great weekend!
Brett: The bull market that began back in October 2022 keeps rolling
Beckham: and it’s finally broadening, with small-caps and the equal-weight S&P leading this year
Graphic as of 08.04.2026
Dave: The biggest earnings growth still sits squarely in large-cap
Graphic as of 08.06.2026
John: With S&P 500 earnings estimates continuing to surge
Graphic as of 07.26.2026
Brad: and this quarter’s results blowing past where earlier estimates lived
Graphic as of 08.05.2026
Jake: Management is raising forward guidance at a historically high rate relative to cutting
Source: Bespoke as of 08.04.2026
Ten: with margins pushing to new highs across the board, not just in tech
Source: SocGen via Daily Chartbook as of 08.04.2026
Beckham: Support for stock prices is seemingly about to get deeper, with the buyback window reopening across most of the index
John: It’s not only a US story, with worldwide revenues per share breaking out to fresh records
Mark: and Dr. Copper is confirming the economic growth, ripping higher alongside emerging-market stocks
Dave: Much of that global demand traces back to AI capex, with estimates continually underestimated
Graphic as of 08.04.2026
John Luke: The widely-watched 10-Year has stayed level against lower Fed Funds rates, a real break from past easing cycles
Graphic as of 08.04.2026
John Luke: and despite media concerns, today’s ~4.4% ten-year is actually normal, still below every year of the 1990s
Source: Strategas as of 08.04.2026
John Luke: FOMC Chair Warsh seems determined to let markets figure things out for themselves
Graphic as of 08.03.2026
Brian: and the weak jobs report has investors less inclined to expect a September rate hike
Source: CME FedWatch Tool as of 08.07.2026
Matt: The backdrop gives the committee plenty to consider
Graphic as of 08.05.2026
Joseph: and the state of inflation across different components hasn’t yet retreated
JD: It’s hard to see a future with restrictive government spending
Source: Strategas as of 08.04.2026
Dave: and the cost of the debt keeps climbing, as net interest eats a rising share of tax revenue
Source: Strategas as of 08.03.2026
John Luke: Ever since the Great Depression, our economy has lived on growing and inflating
Graphic as of 08.05.2026
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