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 large cap leadership to momentum flips, improving sentiment and earnings growth, and no escaping tariff and tax talk. Have a great weekend!
Dave: Bigger has been better, as megacap tech stocks have continued growing into their premium valuations
Dave: and the entire rally has been seemingly fighting against one perceived obstacle after another
Source: FHN as of 07.03.2025
Brad: High beta ran hot into June but has cooled since July started
Source: Bloomberg
Brett: with popular trading names taking a breather after huge runs
Source: Bespoke as of 07.08.2025
Brett: It’s clear that smaller companies have lagged, but signs of improving fundamentals are in place
Source: Strategas as of 07.03.2025
Brad: and the overall business environment looks pretty well removed from a recession threat
Source: Strategas as of 07.08.2025
Beckham: The outperformance of US stocks vs. foreign has been backed up by a huge earnings advantage in the past decade
Source: Goldman Sachs as of 07.07.2025
Dave: and consensus expects a continuation of high earnings growth
Dave: and maybe even joined by small caps, finally
Dave: The mix of domestic vs. overseas revenues varies greatly across sectors
Arch: meaning dollar weakness contributes different levels of an earnings tailwind for each sector
Data as of 07.08.2025
John Luke: and a steady tailwind for new government revenues
Data as of 07.07.2025
Joseph: Here’s a cheat sheet for the impact of personal tax changes from the One, Big, Beautiful Bill
Source: CNBC as of 07.07.2025
Dave: A sample size of only 5 in 50 years but those 5 turned out pretty good
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