The Market in Pictures, July 3

by | Jul 3, 2025 | Blog, Charts

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 low quality and high quality stocks to the state of the US consumer, and projections for rates and the relentless appetite for US large cap stocks. Hope you have a Happy 4th of July!

 

Brad: It was a very strong 2nd quarter, but especially strong for high beta stocks, as often happens after market drawdowns

 

 

 

Brett: with a clear dominance by retail names over institutional types

  

 

 

Beckham: Over longer time frames, companies that can afford to pay growing dividends have generally performed better

 

 

 

Beckham: with that advantage compounding dramatically over time

 

 

 

Joseph: The superior fundamentals of larger US companies really show up when you take long-term snaphots

 

Data as of March 2025

 

 

Ten: and it also shows up in performance, as small caps struggle in a runaway bull for larger cap indices

 

Source: Bloomberg as of 06.30.2025

 

 

John Luke: In contrast to our federal government, the aggregate US consumer ledger is in great shape and continuing to improve

 

 

 

Dave: and the resulting spending has helped extend economic growth whenever conditions appear a bit wobbly

 

Source: Raymond James as of June 2025

 

 

Arch: The setters of short-term rates are more worried about inflation than deflation

 

Source: Apollo as of 07.01.2025

 

 

John Luke: but markets are confident they’ll come around to the idea of deeper rate cuts

 

 

 

Brian: The US Dollar has pulled back significantly this year, from its relentless move higher

Data as of 06.30.2025

 

 

John Luke: but the dominant role of US assets remains

 

Source: Goldman Sachs as of 06.30.2025

 

 

Jake: The month of July has treated investors well over the past decade, benefiting from a focus on corporate earnings

 

Source: Charlie Bilello as of 06.30.2025

 

 

 

Disclosures

 

Past performance is not indicative of future results. This material is not financial advice or an offer to sell any product. The information contained herein should not be considered a recommendation to purchase or sell any particular security. Forward-looking statements cannot be guaranteed.

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

This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.

Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level of 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. ACA-2507-9.

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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.

The opinions expressed herein are those of Aptus Capital Advisors (“Aptus”) and/or the individual Aptus Employee being interviewed as of the date of publication and are subject to change without notice. Aptus reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs and there is no guarantee that such assessments of investments will be accurate. There is no guarantee that strategies or recommendations will equal or exceed any expectations or goals discussed. The discussions, outlook, and viewpoints featured are not intended to be investment advice and do not take into account specific client investment objectives.

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