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 the economy, to international comps and DC taxes and spending. Enjoy!
John Luke: The S&P 500 has developed into a much more quality-focused index than in its past
Source: @warrenpies as of 05.28.2025
Dave: with Mag 7 tech names continuing to build on their fundamental leadership
Source: Raymond James as of 05.28.2025
Brett: While the chatter was that Q1 earnings calls would be void of future guidance, companies spoke confidently of their outlooks
Data as of 05.27.2025
Dave: which supported the overall positive tone coming out of Q1 earnings season
Arch: “Soft data” diverging (and ultimately converging) with hard data is not a new phenomenon
Data as of 05.23.2025
Joseph: and we’re starting to see the (weaker) soft data move in the direction of the hard data as the tariff tantrum subsides
Data as of 05.23.2025
Dave: On the subject of hard data, consumer spending of late has been both consistent and in line with income
Data as of April 2025
John Luke: with baby boomers the most reliable constituents, spending from both lifetime savings and fresh Social Security checks
Brad: China is no friend to the US as a whole, but the access has been a boon to US companies, especially those in technology and communications
Beckham: and while both US and Chinese corporations have benefited from access to cheaper input costs, China has started to look to other markets to reduce its reliance on the US
Data as of April 2025
John Luke: 2025 performance of US stocks vs. the rest of the world has been pretty weak
John Luke: but the 2025 catchup is tiny in comparison to the US dominance from 2020 through 2024
John Luke: The primary driver of US dominance has been superior fundamentals, as European companies in particular have continually failed to grow
Source: Alpine Macro as of 05.27.2025
Jake: and the US dominates the world in developing financially successful companies
Data as of March 2025
JD: We’re on to the “lower taxes and regulation” part of the DC agenda, with the proposed tax bill another source of juice for the economy
Data as of 05.23.2025
John Luke: and with the debt and deficit already in the danger zone, the policy approach would seem to favor running the economy fast enough to outgrow the expanding debt burden
Data as of 05.27.2025
Ten: The US government has no appetite to reduce the growth of spending
Data as of 05.25.2025
Brian: but US consumers have dramatically reduced their debt relative to assets
Data as of 05.28.2025
Brad: Market reactions to tariffs have become more tame, but there’s still a wide dispersion of possible paths
Data as of 05.29.2025
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.
Projections or other forward-looking statements regarding future financial performance of markets are only predictions and actual events or results may differ materially.
This commentary offers generalized research, not personalized investment advice. It is for informational purposes only and does not constitute a complete description of our investment services or performance. Nothing in this commentary should be interpreted to state or imply that past results are an indication of future investment returns. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with an investment & tax professional before implementing any investment strategy. Investing involves risk. Principal loss is possible.
Advisory services are offered through Aptus Capital Advisors, LLC, a Registered Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level of 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. ACA-2505-24.
