The Market in Pictures, May 3

by | May 3, 2024 | Blog, Charts

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: Market hopes for imminent rate cuts continue to be dashed

 

 

Brad: but historically a Fed “pause” has been just fine for stocks

 

Source: Strategas as of 05.01.2024

 

Brett: and rate policy around the world is a mixed bag

 

Data as of 05.01.2024

 

John Luke: The dilemma the Fed faces is that the Core Personal Consumption Expenditures (PCE) index is re-accelerating after a flat period

 

Source: WSJ as of 04.26.2024

 

Beckham: with labor costs standing out as persistently strong

 

Data as of April 2024

 

John Luke: and services costs staying high in general

 

Data as of April 2024

 

Brett: so what happens if the cost of goods resumes its earlier rise?

 

Source: Apollo as of 04.29.2024

 

Dave: If the Fed is hoping for inflation relief from weaker consumer spending, it has no evidence so far

 

 

Joseph: but its secret weapon in getting out of this inflation cycle could be rising productivity

 

Source: PGM as of 04.29.2024

 

Dave: Earnings projections for 2024 are very back-end loaded

 

Source: Strategas as of 04.22.2024

 

Brad: and until we get thru Q2, very “Mag 7” loaded

  

Data as of 05.01.2024 

 

Brian: Speaking of the Mag 7 and beyond, this is as concentrated as we’ve seen it at the top

 

Data as of April 2024

 

Dave: but other global markets show even more concentration

 

Source: Strategas as of 04.22.2024

 

Dave: Your regular reminder that there can be no gain without some (temporary) pain

 

 

Brad: and while it might feel that way to those watching, the S&P 500 is not the economy

 

Source: Apollo as of 04.30.2024

 

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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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