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Weekly Chartbook

By: Aaron Lang - Portfolio Analyst

November 10, 2021

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Market Performance (YTD)



Source: YCharts
Disclaimer: Past performance is no guarantee of future performance

The Good News

Jobs report beat expectations

EPS surprises have been historically good

And Q3’s earnings have also been impressive

The Mixed News

While earnings are still impressive, surprises are coming in lower

The Bad News

And investors are punishing those companies that miss even more so than normal

And maybe we should be paying more attention to this? (Thread)

The State Of The Market

It continues to be a good year, especially this most recent stretch

So investors haven’t meaningfully flinched at inflation, yet.. Probably because companies continue to successfully pass along the price increases. 

But just this morning, we saw yet another higher than expected inflation print

And it’s not just the US. Look at China and Brazil.

And many of these emerging market countries are playing catch up by hiking rates

And investors are increasingly expecting sooner rate hikes here in the US

Which would probably hurt stocks

But the Fed is in a tough spot because we’ve probably also reached peak growth 

But on the flip side, consumers and corporations are still incredibly financially healthy

And contrary to the contrarian take, record highs are bullish

Charts Of The Week

Disclosure

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