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
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