Charts & Chat - June 21, 2026

This week, CEO Eric Boyce, CFA discusses:

1. Investment markets witnessing increasing concentration within tech and especially semiconductor companies; significant retail buying power and liquidity helping to sustain elevated valuations

2. S&P excluding energy and technology is down for the year; individual stock volatility picking up, and low quality small stocks are outperforming higher quality

3. energy markets depend on amicable solution to Iran conflict; stocks at low levels, and could lead to unwanted inflation in September if no resolution on the war

4. cattle, copper prices higher; gold off its bubble price

5. Deal activity within private markets picking up for areas other than software

6. Fed chair Warsh signals changes in level of disclosure, forecasting; Fed in touch spot due to persistent inflation and tepid labor markets. More likely to see a rate hike before more easing

7. Retail sales ahead of expectations; pending home sales up while home starts and permits remain weak

8. Current estimate for 2nd quarter economic growth (GDP) is 3.0%, driven by consumption, inventory build and business investment, offset by negative trade