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:
Beckham: This week’s retail sales report again showed a steady pace of consumer spending
Source: Charles Schwab as of 10.17.2024
Joseph: which is part of the strength feeding into expectations for global growth
Data as of 10.15.2024
Arch: and while all income groups are benefitting from the economic tailwinds
Brett: we’re seeing some challenges, likely for those who’ve not benefitted from the rise in home and stock prices
Data as of 10.15.2024
Brett: At the corporate level, we’re seeing few signs of difficulty in covering loan payments, here or overseas
John Luke: resulting in historically low compensation for buyers of credit
Data as of 10.14.2024
Brian: By one measure, the long downtrend of grocery bills relative to income has resumed after the 2021-22 spike
Source: MarketWatch as of 10.16.2024
John Luke: though when you take a broader look at all components, it’s possible we’ve seen the low in inflation rates
Data as of 10.10.2024
Joseph: It’s important to note that some passive indexes hold companies based strictly on market capitalization, with no regard for business fundamentals
Source: Apollo as of 09.30.2024
Beckham: while large-cap indexes continues to move in the direction of quality
Source: Paulsens Perspectives as of 10.15.2024
Dave: This difference is an important distinction when comparing “small caps” vs. large caps
Data as of September 2024
Dave: likely contributing to the unusual valuation discount despite the opportunities in smaller stocks
Dave: as their performance continues to trail large caps like it has for most of the past decade
JD: To this point of the year, the advance in the S&P 500 beats every other year this century
Data as of 10.11.2024
Brad: with companies continuing to announce large stock buybacks
Brad: and households doing little to rebalance funds into other asset classes
Brad: We have no idea what markets will do into and through this contentious election, but history has mostly been favorable
Source: Goldman Sachs
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