Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and the way they fit the unfolding puzzle of evidence:


John Luke: On the way to 16 of 18 weeks up for the S&P 500, it seems


Source: Daily Chartbook as of 02.28.2024


John Luke: We all know US stocks have been dominating foreign stocks in recent years, approaching global influence not seen since the 1960s


Data as of January 2024


Dave: accelerating in recent years due to a better economy


Data as of January 2024


Beckham: and while many complain about the reliance on a handful of megacap tech stocks, our market is no more concentrated than any other large country


Source: Bloomberg as of 02.29.2024


Brett: and don’t miss the global advance underway while others fret about a few big US tech stocks


Data as of 02.23.2024


Dave: Q4 earnings results have yet to flow through into the outlook for future quarters


Data as of February 2024


Brian: but the worst for smaller companies seems to be in the rearview mirror


Data as of 02.27.2024


Joseph: The rate-hike cycle of 2022-23 was different than prior cycles, with hikes coming mostly after official inflation figures were peaking


Data as of February 2024


Brad: and perhaps that timing has contributed to postponing the recession that everyone knew was coming


Source: Sevens Report as of 02.27.2024


Dave: The lack of a slowdown will likely keep near-term Personal Consumption Expenditures (PCE) from taking year-over-year measure much lower


Data as of 02.29.2024


John Luke: with the PCE’s “Supercore” measure especially sticky at higher levels


Source: Zerohedge as of 02.29.2024


Beckham: with improving productivity seemingly our most sustainable path out of higher inflation


Source: Paulsen Perspectives as of 02.28.2024


Joseph: The piece of the economy that most of the public can understand is housing; despite much higher mortgage rates we’ve seen barely a blip in prices


Data as of 02.28.2024


Brett: continuing the wealth effect experienced by most homeowners since the Global Financial Crisis


Data as of February 2024


Dave: Traditional valuation measures continue to be less reliable, as more of our businesses are growing without a large investment in tangible inventory


Data as of February 2024


Brad: and those who go back to investors for more equity ultimately see share prices lag others who can grow without ownership dilution


Source: @JeffWeniger as of 02.23.2024




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