the narrow 2023 rallies started broadening out two months ago in June and with the latest surge in July some interesting stats are popping up as to what cards the rest of the year holds let's head on over to the New York Stock Exchange our very own Jared blickery he's holding the cards down there on the floor break it down for us Jared don't talk to me about concentration I want to go straight to the Wi-Fi interactive where I have the sector action for today a couple sectors in the red looking a little defensive there but let me just put a two month and we're talking about the June July period here retail consumer discretionary that is xly that's up 14 close on its heel as materials then we got Industrials energy financials communication Services which houses some Mega caps so you put all of that together that's a pretty broad base rally and I have another way of showing that as well if you take a look at this the farther you are to the right here and this is the Dow components you got caterpillar that's up over 25 percent the better the performance over June and July the farther you are up the better the performance January through May now we got Salesforce at the very top they're up almost 70 percent but it really hasn't done much since June so that's why it's up there at the top by itself then we got Microsoft and Apple um not the best returns but I think most people in apple will take a 10 return coach a little bit less than that for Microsoft but just to show you there are a lot more issues that have caught up and are trending this way to the right which means better performance over the last two months than the prior ones then you take a look at the overall Market what the S P 500 has been doing through July I took a look historically what happens when you're up by double digits as we are now but 18 percent in the S P 500 and guess what really good results only one negative year that would be 1987. so Tailwinds definitely favoring the Bulls here with respect to the S P 500 here's the naznet NASDAQ we got about two-thirds positive but we do have a lot more Red Deer so not quite as bullish for the tech heavy NASDAQ but you put all this together and we're looking at some pretty strong Tailwinds for the rest of the year anything can happen and Tailwinds like this seasonality only account for about one-third of the price action so other factors of course can dominate we could get a hot or a weak inflation print but I think another thing that's happened recently that we need to take pay attention to which could upset these returns is what is happening in the bond market and here's a 10-year t-note yield last week on the news that the Japanese had potentially lost control of the yield curve there uh our tenure marched right back up to four percent that's almost where it is right now we start surging higher and the market starts repricing in a more hawkish fed than is already priced in we could definitely see equities take a stumble finally here's the U.S dollar Index this goes back two months and you can see after dropping through the support level it was pretty quick to the downside and we spent the last part of the month the last two weeks or so climbing back up to that resistance line but in general a higher dollar bad for stocks a lower dollar good for stocks not exactly that black and white but you get the picture there so if the market were to roll back over like that that would be very supportive for stocks if we head back higher here it could be a little bit of a stumbling block I would expect if that happens if we get that stronger dollar that would happen concurrent with higher yields and the market pricing in that higher for longer even higher for longer fed but uh not getting too far away from ourselves right now it's just looking pretty bullish from here even this big red candle that nasty red candle that we got last week well that is being overcome as we speak guys all right well we'll see what ends up happening next that's always the fun of it thanks so much Jared
