The Market in Pictures, November 15

by | Nov 15, 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:

Brad: Stocks had a nice run of daily inflows coming into and out of the election

 

Source: Goldman Sachs as of 11.13.2024

 

Brian: though after the past few days, Bitcoin is the standout post-election performer

 

 

Beckham: The U.S. economy has been on a good run of exceeding expectations throughout the fall

 

Data as of 11.08.2024

 

Brett: though it’s par for the course for the FOMC to underestimate the economic strength

 

Data as of 11.08.2024

 

John Luke: and the market is again separating from the Fed’s published expectations

 

Data as of 11.08.2024

 

Arch: This continues a pattern of misalignment between market expectations and those of the Fed

 

Source: Apollo as of 11.09.2024

 

John Luke: and through all of the uncertainty, the Core Consumer Price Index (CPI) has actually been pretty steady

 

Data as of 11.13.2024

 

Brad: with the economic history books showing past patterns of inflation stabilizing at higher levels and then surging to even higher highs

 

Source: Strategas as of 11.13.2024

 

Joseph: The current move higher in bond yields looks tied to buyers demanding higher real rates for their dollars

 

Data as of 11.08.2024

 

John Luke: and the economic strength implied by that type of move ties in with the seasonal tendency towards more value-oriented sectors

 

Data as of 11.09.2024

 

Dave: Earnings growth hasn’t been huge but for U.S. large caps it’s generally been higher than expectations

 

 

Dave: though the larger driver of the move higher in stocks has been higher valuations, presumably driven by optimism about future earnings

 

 

JD: Are stocks really that much more valuable, or is currency debasement simply being reflected in higher prices for risk assets?

 

Data as of 11.13.2024

 

 

 

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.

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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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