The Market in Pictures, May 23

by | May 23, 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 rising yields and the economy, to earnings and tariffs and valuations. Enjoy!

 

Beckham: Rising yields is not just a U.S. phenomenon

 

Data as of 05.22.2025

 

 

John Luke: though if you look at the past couple of years, it’s just been a rolling series of shifting narratives

 

Source: Piper Jaffray as of 05.21.2025

 

 

John Luke: either way, there’s no escaping the sharp rise in borrowing costs for the U.S. government

 

Data as of 05.16.2025

 

 

Brad: The current rates yo-yo revolves around the ongoing news cycle of high tariffs vs. low tariffs, and how that might flow into the Fed’s rate plans

 

Data as of 05.20.2025

 

 

John Luke: Stepping away from the tariff discussions, conditions for a severe recession just don’t seem to be there

 

Data as of 05.19.2025

 

 

Joseph: and consumers in general remain in very good shape with respect to debt

 

 

 

Brian: Younger buyers continue to have a hard time entering the housing market

 

Data as of March 2025

 

 

Jake: which takes away a huge population of potential buyers in a market where prices have generally flattened

 

Data as of 05.16.2025

 

 

Brett: For the first time since before the tariff tantrum, consensus earnings estimates are rising

 

Source: @LizAnnSonders

 

 

John Luke: with Mag 7 stocks leading the way with generally strong outlooks coming out of earnings calls

 

Source: The Market Ear as of 05.19.2025

 

 

Dave: and that better relative earnings performance has narrowed the valuation gap between the Mag 7 names and the rest of the market

 

Source: The Market Ear as of 05.19.2025

 

 

Arch: The cost of money has historically impacted equity valuations more in periods of positive correlation between stocks and bonds

 

 

 

 

 

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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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