Charts & Chat - July 14, 2024

recent trends in estimates for economic growth

analysis of the latest consumer and producer inflation reports, which moved in different directions

core inflation, rents and wages moderating

small business optimism stronger; hiring intentions softer, however

high yield spreads and portfolio insurance reflect a high degree of complacency in the markets

equity valuations high overall, limited breadth but improvements likely; only 25% of the S&P 500 stocks are beating the index

equal weight valuations much more attractive than the headline S&P 500

active hurricane season likely...ramifications on certain economic sectors (energy) and potential additional volatility to markets over the summer...