Our team looks at a lot of research throughout the day. Here are a handful that we think are contributing to investor activity, from earnings to tariffs to market breadth and comparisons of foreign markets to ours. Enjoy!
Beckham: It’s not just megcap tech that’s seeing profit margins on the rise
Via @SamRo as of 02.15.2025
Brad: resulting in solid earnings on only slightly higher sales growth
Data as of 02.17.2025
Dave: Megacap tech earnings comprise a huge chunk of overall S&P 500 earnings, but an even bigger chunk of market capitalization
Source: Strategas as of 02.21.2025
Joseph: and moving to equal-weighted earnings, the trend hasn’t been great
Data as of 02.18.2025
Brett: Maybe the earnings dominance vs. smaller stocks will finally shrink as 2025 unfolds
John Luke: as outcomes turn a bit more company-specific
Data as of January 2025
Brad: Wherever tariffs land, they’re coming from historically low levels
Data as of January 2025
Arch: and will make up a tiny fraction of the overall economy
Source: Apollo as of 02.20.2025
Beckham: Housing’s struggles are not surprising given the sharp rise in rates relative to income growth
Data as of 02.15.2025
John Luke: but manufacturing is seeing new signs of resurgence
Data as of 02.14.2024
Joseph: and quantitative tightening (QT) might be looking at a break, as monetary policy levers shift
Source: Strategas as of 02.15.2025
John Luke: Explosive earnings growth is hard for companies to sustain
Source: Goldman Sachs as of January 2025
Brian: unlike the concern that US stocks are overvalued vs. peers, which has persisted throughout the past 10 years
Data as of 02.14.2025
JD: It wasn’t expected by many at the time, but holding stocks from the exact pre-COVID peak has worked out just fine for investors
Via Raymond James as of 02.18.2025
Arch: and when you include returns vs. volatility, S&P 500 performance has been even more impressive
Dave: The business fundamentals of US companies paint a strong case for the dominance of US stocks over every major asset class
Source: Strategas as of 02.17.2025
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