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 Q2 standouts to sector dispersion, rising earnings and falling credit spreads, and inflation and the FOMC. Have a great long weekend, Happy Birthday USA!
Mark: It was one of the better quarters on record for stocks, and retail dip-buyers were in the thick of it
Brett: The largest, most-discussed stocks were actually a drag for most of June
Source: Bespoke as of 06.26.2026
John Luke: with correlation across individual stocks plunging
Beckham: and the equal-weighted version of the S&P 500 putting in some major gains relative to the cap-weighted version
Source: Bespoke as of 06.26.2026
John Luke: The run in stocks has been a driving force of the gap between equity owners and non-owners
Graphic as of March 2026
Brian: but is also providing support for participants in old-school pension plans
Source: Apollo as of 07.01.2026
JD: The healthy economy is lending support to the cost of corporate debt
Data as of 06.26.2026
John Luke: and no visible reason to expect high compensation for lenders
Source: Strategas as of 06.30.2026
Brad: Earnings estimates just keep rising all the way through 2027
Graphic via DataTrek as of 06.23.2026
Beckham: and it’s no longer just a US phenomenon
John Luke: The question then is valuations… with inflation expectations stable, there’s the potential for a boost on that side as well
Data as of 06.28.2026
Beckham: We have transport costs moving higher
Source: Apollo as of 06.26.2026
John Luke: but Fed Chair Warsh’s favorite “Trimmed Mean” lower
Data as of 06.28.2026
Dave: and “Supercore” stable to higher, above stated targets
Data as of 06.29.2026
Brad: Hyperscaler spending has been repeatedly underestimated
Graphic via NewEdge Wealth 06.27.2026
John: but it may not be the jobs disaster that has worried so many “experts”
Graphic as of 06.29.2026
Brian: with wide differences across industries in 2026
Source: Bespoke as of 07.01.2026
Dave: US stocks have been good in recent Julys… God Bless America!
Graphic via Raymond James as of 07.01.2026
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