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 earnings and divergent reactions, to massive sector rotations, and spending splits across age and income. Have a great weekend!
Brad: Earnings continue to show broad strength
Source: Goldman Sachs as of 02.13.2026
Brad: with most sectors moving ahead of prior expectations for both sales and earnings
Data as of 2.17.2026
John: but the index as a whole is finding difficulty following through with higher prices
Source: Bespoke as of 02.19.2026
Jake: The story of 2026 has been a shift from former leadership sectors to new ones
Graphic via WSJ as of 02.19.2026
Brett: with the equal-weighted version of the S&P 500 dominating
Source: Bespoke as of 02.17.2026
John Luke: We’ve seen enormous performance dispersion across individual stocks
Source: Bespoke as of 02.17.2026
Ten: following through on the odd post-April chase of “low quality” stocks
Graphic via WSJ 02.19.2026
JL: We take it as a good sign that industrial companies are seeing the benefits of pro-growth policies
Data as of 02.17.2026
Dave: part of an overall theme of broad fundamental strength in cyclicals
Data as of 02.12.2026
Beckham: Part of that strength also stems from supporting the continued spending of the AI hyperscalers
Brian: and part of the recent performance challenges for the big spenders is a growing concern about that nonstop spending growth
Data as of January 2026
JD: Speaking of nonstop spending, the federal government can’t help itself
Graphic via WSJ 02.19.2026
JD: resulting in ever-growing government debt
Graphic via WSJ 02.19.2026
John Luke: Continuing on the spending theme, the highest-income consumers continue to drive overall activity
Graphic via WSJ 02.18.2026
John Luke: and there’s a growing age component in place as well
Joseph: the result being, the “K-shaped” feelings at the heart of today’s public debate
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