The Market in Pictures, April 12

by | Apr 12, 2024 | Blog, Charts

Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:

 

John Luke: This week was mostly about inflation, with CPI Supercore running hot

 

Source: MKM as of 04.10.2024

 

Brian: with auto insurance becoming a larger and more painful component

 

Source: Bloomberg as of 04.11.2024

 

Joseph: and services as a whole staying stubbornly high after receding from peak year-over-year rates

    

Data as of 04.10.2024

 

Brett: the story is the same in Europe

 

Data as of 04.10.2024

 

Beckham: Manufacturing is becoming a differentiator for the U.S. vs. the European Union

 

Data as of March 2024

 

Dave: which is showing up in a stable, positive jobs picture in the U.S.

 

Data as of 04.05.2024

 

Joseph: and as long as people have jobs, they’re going to spend money and keep the economy growing

 

Source: JP Morgan as of March 2024

 

 Brad: The timing of FOMC rate cuts continues to get pushed out, as we remain in a “pause”

 

Data as of 04.10.2024

 

John Luke: with a slow, quiet bleed in quantitative tightening continuing

 

Data as of 04.10.2024

 

JD: and the U.S. government debt burden just piles up

 

Source: Jefferies as of March 2024

 

Beckham: The area of the market that’s been most tied to the movements in rates has been Real Estate Investment Trusts (REITs)

 

Data as of 04.09.2024

 

Beckham: with the same pattern happening in European REITs

 

Data as of 04.09.2024

 

Joseph: and what is now 25+ years of no price appreciation in U.S. office REIT stocks

 

Data as of 04.10.2024

 

Brett: We’ve entered a blackout window preventing a high % of U.S. companies from buying back stock during earnings season

 

Data as of 04.05.2024

 

John Luke: at a time when U.S. stocks are getting a bit wobbly after a steady 5-month uptrend

 

Source: Strategas as of 04.10.2024

 

Dave: Hopefully, after a long period in which the S&P 500 has dominated earnings

 

Source: Meketa as of January 2024

 

Dave: we may be closer to a broadening of growth rates across more industries and geographies

 

 

John Luke: While sentiment after the rally may have become a bit too giddy

 

Data as of 04.05.2024

 

Brian: we seem to have the general support of a shrunken supply of stocks to soak up investor cash

 

Data as of 04.08.2024

 

Disclosures

 

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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.

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