Charts & Chat - October 20, 2024
Eric Boyce • October 21, 2024
This week, CEO Eric Boyce, CFA discusses:
1. GDP estimates for 3Q in the increase; liquidity higher, and economic data on balance has been more positive.
2. liquidity improving in US and abroad - tends to favor profits increases and risk asset investment over time
3. retail sales stronger than expected, labor market softening as expected
4. gold strong, other energy commodities are off somewhat
5. chapter 11 filings up, expectations for delinquencies on the rise
6. regional economic surveys (Philly Fed, Empire State) paint mixed picture on manufacturing
7. investor optimism much higher on stocks versus bonds; improving stock price and earnings breadth across sectors expected

By Eric Boyce
•
September 21, 2026
This week, CEO Eric Boyce, CFA discusses: 1. global oil inventories are falling, creating additional risk within the energy markets 2. Fed rate increase this past week following inflation data, more hikes expected. Dollar strong as a result 3. interest rates and yields rising, impacting cost of capital and risk repricing. Corporate balance sheets remain strong, though 4. Philly Fed data positive; housing starts and sentiment remain weak; retail sales ahead of expectations 5. Import and export prices above expectations, more energy related price impacts likely. Tech import prices accelerating 6. gold ETF inflows strong, more central bank gold investment and US Treasury disinvestment; foreign investment remains strong, however 7. earnings growth expectations remain very strong, anchored by tech AND energy; industrial valuations now ahead of tech





