Post-July Fourth Flip Flop

By Staff of Bespoke Investment Group

Financial Research, Money Management • Jul 12, 2024 at 5:49 PM EDT

Since last Friday's close, the average Russell 1,000 member has risen by 3.73%. However, the stocks with the largest market caps only rose 1.6%.

Back at the start of the quarter, we provided a decile analysis in a Chart of the Day looking at Q2 performance of Russell 1,000 members. In that report, we highlighted a theme that has been no secret this year: stocks with larger market caps have outperformed. Fast forward to this week and a cooler-than-expected CPI report, the themes of performance have flip-flopped.

Since last Friday's close, the average Russell 1,000 member has risen by 3.73%. However, the stocks with the largest market caps only rose 1.6%. Meanwhile, the deciles of the smallest stocks (by price and market cap) have outperformed, rallying closer to 5.5%. Similarly, the deciles of stocks with the cheapest valuations, highest dividend yields, highest short interest, most positive analyst sentiment, and worst performers YTD have seen gains in the 5% range.

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Disclaimer:

Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any opinions expressed constitutes a solicitation of the purchase or sale of any securities or commodities. This is not personalized advice. Investors should do their own research and/or work with an investment professional when making portfolio decisions. As always, past performance of any investment is not a guarantee of future results. Bespoke representatives or clients may have positions in securities discussed or mentioned in its published content.

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