The Market in Pictures, November 13

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 normal-sized pullback led by chip stocks, to valuations resetting even as earnings beat, an AI buildout increasingly funded with debt, and sticky inflation pushing the Fed toward hikes. Have a great weekend!

Beckham: The recent pullback felt sharp, but they always do

Graphic as of 11.11.2026

Jake: with chip stocks leading the way down, even as analysts keep raising their earnings forecasts

Brett: Tech in general has become much cheaper than it was

Graphic via Raymond James as of 11.11.2026

Derek: but a price/earnings ratio is a formula, not a signal…rich stocks can rise, and cheap ones can fall

JD: That said, the market is getting cheaper even as earnings keep climbing

Beckham: with shrinking multiples eating into what would otherwise be big gains

Graphic as of 11.07.2026

Brad: though Q3 results have come in well ahead of expectations

Dave: On the AI front, Big Tech's ambitions just keep getting bigger

John Luke: and more of the bill is being put on credit

Joseph: at a time when plenty of other companies will need to refinance too

Dave: Inflation, meanwhile, isn't cooling the way the Fed would like

Graphic as of 11.10.2026

Brad: and prices for everyday essentials are showing the same

Graphic as of 11.11.2026

Ten: With the job market holding up, along with stubborn inflation

Graphic via M. McDonough as of 11.06.2026

Mark: the consensus says the Fed will be hiking rates

Brian: Companies have plenty of dry powder to buy the dip

John: which they're now free to put to work

John Luke: Bonds as a whole may not be great performers, but good strategies are often much better than an index

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