Charts & Chat - September 1, 2024
Eric Boyce • September 2, 2024
This week, CEO Eric Boyce, CFA discusses:
1. equity breadth improving, momentum factors fading a bit stocks trading above moving averages
2. more volatility due to increased index option use
3. positive implications for the market following the first rate cut
4. look for better performance from cyclical sectors and value
5. some charts on the non-bank sector and provate credit from FS Investments
6. GDP revisions positive; favor increased consumer activity
7. trade, inventories impacted by retailers getting ready for holiday shopping
8. wages continuing to drop...implications.

By Eric Boyce
•
April 13, 2026
This week, CEO Eric Boyce, CFA discusses: 1. final 4Q GDP revision reflects weaker year-end environment. First quarter estimates are trending down, reflecting pressure from geopolitics 2. personal income trending lower, although credit outstanding remains flat 3. PCE prices are elevated, primarily from goods prices - housing continuing to drop 4. energy market impacts from Iran conflict - disproportionate impact on lower income, Asia energy markets 5. forward looking equity returns look to be more limited, following three years of above average returns - private investments will likely play a greater role going forward 6. still a considerable gap on individuals with retirement plans, even at the higher income levels 7. earnings estimates moving higher, especially for tech firms; accordingly, tech P/E multiples back down to overall index average




