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 earnings and hyperscalers to soft vs. hard economic data. Enjoy!
Brad: Q1 sales and earnings have generally been better than the worst fears of a month ago
Data as of 05.06.2025
John Luke: with overall S&P 500 results running well ahead of expectations for Q1
Data as of 05.05.2025
Dave: The real issue is the outlook for the rest of the year
Source: Raymond James as of 05.09.2025
Brad: as forward earnings estimates take a hit
Source: Strategas as of 05.07.2025
Brett: With some industries seeing particularly sharp revisions lower
Source: Strategas as of 05.07.2025
Arch: and the overall pace getting into levels historically tied to FOMC rate cuts
Data as of 05.06.2025
Dave: For all of the angst over Mag 7 concentration, their market dominance has been in line with their superior fundamental results
Source: Raymond James as of 05.09.2025
John Luke: and their capital spending dwarfs other groups, with ripple effects through the economy
Graphic via BlackRock
Brian: Business surveys show sharply lower confidence amidst the trade uncertainty
Source: Goldman Sachs as of 05.02.2025
Joseph: with the ISM Manufacturing Survey falling into recession territory
Data as of 05.02.2025
Jake: but payroll data resilient enough to keep the FOMC from resuming their rate-cutting cycle
Graphic via WSJ as of 05.02.2025
Dave: Complicating the Fed’s efforts is the steadiness of inflation at levels above their stated preferences
Source: Strategas as of 05.08.2025
Beckham: and the high/rising expectations for input prices
Source: Apollo as of 04.26.2025
John Luke: Sentiment surveys have reached historically low levels of consumer confidence relative to real-world conditions
Data as of 05.05.2025
Data as of 05.05.2025
Brian: the divergence in public sentiment vs. stock market action is prompting debate about whether individuals are too gloomy about the economy
Data as of 05.05.2025
Ten: There is no playbook that works every time, but historically, some sectors have had outsized reactions to growth and inflation regimes
Joseph: The recent win streak for stocks stood out not only for its durability but also for the distance traveled
Data as of 05.05.2025
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