Five interesting things that Hodges Capital research analysts discovered this week...

#1 ROUGH START: The S&P 500 declined -8.4% in June, and -20.6% YTD, the second-worst 1H price return in 60+ years (1970: -21.0%). Energy was the only sector with positive returns (29.2%). Discretionary was the worst (-33.1%). Value meaningfully topped Growth (-13.8% vs -28.4%).

#2 SENTIMENT: Big Tech sentiment has yet to turn according to Strategas. Among the 52 sell-side analysts who cover Alphabet (GOOGL), all 52 have a “buy rating” on it.

#3 OFFICE FURNITURE: 93% of executives say they are planning changes to their office spaces, with some planning full-scale renovations and many others making incremental improvements. This is according to the most recent Leesman’s Executive Survey.

#4 FIREARMS: More than 1 million civilian guns were sold during June in the United States, marking the country’s 35th consecutive month of surpassing that threshold – an American record per Newsmax. 

#5 QUOTE OF THE WEEK: “The best way I know to hedge is to not owe any money.” – Jerry Jones, majority owner of Comstock Resources

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