The Market in Pictures, July 17

by | Jul 17, 2026 | Blog, Charts

Our team looks at a lot of research throughout the day. Here are a handful of charts we think are good summations of investor activity, from asset convergence and divergence to equity supply and demand, to rates and the state of oil and inflation. Have a great weekend!

 

Beckham: Diversification is a great concept, but there are no set rules on the interplay among assets

 

John: Energy, for example, has had an unprecedented split from the rest of the market

 

Mark: and momentum has separated from other factors like never before

Data as of 07.10.2026

 

Brad: The SpaceX IPO triggered stories about increasing equity supply, but that gets dwarfed by buybacks

Data as of 07.12.2026

 

Brett: and stocks as a whole have become cheaper as earnings have exploded higher

Data as of 07.10.2026

 

Brian: Selloffs/recoveries like the one driven by Iran fears have repeatedly built a wall of worry for the bull market to stay intact

 

John Luke: The fall in inflation in June was quite broad

Data as of 07.15.2026

  

Brad: and resulted in month-over-month prices failing to rise for the first time since early COVID

Source: @DanGreenhaus as of 07.15.2026

  

John Luke: So, will the Warsh Fed really hike just as inflation measures appear to be relaxing?

Source: Duality Research as of 07.15.2026

  

Brian: Higher financing rates wouldn’t seem to make the wish list of the US Treasury

Data as of June 2026

 

Beckham: especially as defense spending is projected to rise both in the US and globally

Source: Blackstone as of June 2026

 

 Brett: Foreign stocks have had quite a run after a long period of relative weakness

 

John Luke: but the attractiveness of US businesses keeps foreign dollars heading our way

Source: Apollo as of 07.13.2026

 

 Joseph: Oil remains a wildcard, especially for non-US countries dependent on imports

Data as of 07.14.2026

  

Joseph: and even the US has drawn down its reserves during emergencies this decade

Data as of 07.14.2026

  

John Luke: US companies are clearly highly committed to artificial intelligence 

Data as of June 2026

 

Dave: and despite software stocks being under pressure, there is still a need for qualified developers

 

JD: Worth repeating that bonds are sometimes diversifiers but rarely hedges

 

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Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially. 

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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.

Aptus Capital Advisors, LLC is headquartered in Fairhope, Alabama.

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