--- title: Friday Fast Five - 5/12/2023 description: We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. Subscribe to receive the Hodges Friday Fast Five in your inbox every Friday. image: https://blog.hodgescapital.com/hubfs/Hodges%20PC%20Clock_Gold%20(002).jpg --- [![Hodges-Logo-1](https://blog.hodgescapital.com/hs-fs/hubfs/Hodges-Logo-1.png?width=215&height=98&name=Hodges-Logo-1.png "Hodges-Logo-1")](https://www.hodgescapital.com/) [![Connect With Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6) ** ** [![](https://blog.hodgescapital.com/hs-fs/hubfs/Hodges-Logo-1.png?width=521&height=237&name=Hodges-Logo-1.png)](https://blog.hodgescapital.com/) [![Connect With Us](https://hubspot-no-cache-na2-prod.s3.amazonaws.com/cta/default/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6.png)](https://hubspot-cta-redirect-na2-prod.s3.amazonaws.com/cta/redirect/9402040/5025aacb-6e9a-4ab0-8651-1dfa57e962c6) ** ** **Menu** ** ** ![Outside 1-1-2](https://blog.hodgescapital.com/hs-fs/hubfs/Outside%201-1-2.jpeg?width=4106&name=Outside%201-1-2.jpeg "Outside 1-1-2") # Hodges Friday Fast Five *"In the investment business, you go to school every day, but never graduate." - Don Hodges*   # Friday Fast Five - 5/12/2023 by [Hodges Investment Team](https://blog.hodgescapital.com/capital-fast-five/author/hodges-investment-team), on June 6, 2023 Five interesting things that Hodges Capital research analysts discovered this week... **#1 ****CORPORATE CASH USE: **A recent report from Strategas highlights that cash used among the S&P 500 for share repurchases has returned year-to-date 9.2%. Furthermore, the annualized return for share repurchases from 2015-2022 has averaged 12.5% compared to 11.0% for cash used in merger and acquisition activity. **#2 ****USED CAR PRICES: **Manheim recently released data that April wholesale used car prices ticked up slightly by 0.1% month-over-month but remained down 5.6% from a year ago.**   ** **#3 ****SIZE MATTERS: **As of May 1, the U.S. has had three commercial bank failures year-to-date, representing $552.3B in assets, compared to 140 bank failures in 2009, representing 169.7B in assets. (Source: S&P Global Market Intelligence)**         ** **#4 ****GOLDEN HANDCUFFS: **U.S. existing home inventory, published by the National Association of Realtors, is at its lowest level in several decades as homeowners are locked into fixed rates well below today's prevailing mortgage rates. Furthermore, weekly mortgage applications have recently reached the lowest levels since 1997.**     ** **#5 ****PAUSE VERSUS RATE CUTS: **According to a recent report from Credit Suisse, the S&P 500 has experienced a higher 12-month return following a Fed pause rather than an interest rate cut. The average return for the S&P 500 was 16.9% following the last rate hike versus a negative 1.0% following the first rate cut. **                                                                    **   *Hodges Private Client is a program offered through Hodges Capital Management, Inc. (“HCM”). HCM is an Investment Advisory Firm registered with the Securities and Exchange Commission (“SEC”), is a wholly owned subsidiary of Hodges Capital Holdings and serves as investment advisor to the Hodges Funds. HCM is affiliated with First Dallas Securities, Inc, a broker-dealer, and investment advisor registered with the SEC.* *This discussion is not intended to be a forecast of future events and should not be considered a recommendation to buy or sell any security. Past performance is not indicative of future results. Investing involves risk. Principal loss is possible. Investing in smaller companies involves additional risks such as limited liquidity and greater volatility. No current or prospective client should assume that information referenced in this communication is a recommendation to buy or sell any security or is a substitute for personalized investment advice from your individual advisor. HCM does not provide tax or legal advice. Consult your tax or legal advisor for any related questions.* *All information referenced herein is from sources believed to be reliable and is provided as general market commentary and does not constitute investment advice. This material was created for informational purposes only and the opinions expressed are solely those of HCM. HCM shall not in any way be liable for claims and makes no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information. The data and information are provided as of the date referenced and are subject to change without notice.* ### Hodges Friday Fast Five We aim to help investors separate the news from the noise by providing our perspective. Every Friday the Hodges Capital research analysts list the five most interesting things they discovered that week. Subscribe to receive the Hodges Friday Fast Five in your inbox every Friday.  - [Recent](https://blog.hodgescapital.com/capital-fast-five/5/12/2023#recent) - [Topics](https://blog.hodgescapital.com/capital-fast-five/5/12/2023#topics) - [Archive](https://blog.hodgescapital.com/capital-fast-five/5/12/2023#archive) - [June 2023 (11)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/06) - [July 2023 (5)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/07) - [September 2023 (5)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/09) - [August 2024 (5)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/08) - [August 2025 (5)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/08) - [October 2025 (5)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/10) - [January 2026 (5)](https://blog.hodgescapital.com/capital-fast-five/archive/2026/01) - [December 2021 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2021/12) - [August 2023 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/08) - [October 2023 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/10) - [December 2023 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/12) - [January 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/01) - [February 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/02) - [March 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/03) - [April 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/04) - [May 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/05) - [June 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/06) - [September 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/09) - [October 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/10) - [November 2024 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/11) - [March 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/03) - [April 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/04) - [May 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/05) - [June 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/06) - [September 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/09) - [November 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/11) - [December 2025 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/12) - [February 2026 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2026/02) - [March 2026 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2026/03) - [May 2026 (4)](https://blog.hodgescapital.com/capital-fast-five/archive/2026/05) - [March 2023 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/03) - [November 2023 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/11) - [July 2024 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/07) - [December 2024 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2024/12) - [January 2025 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/01) - [February 2025 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/02) - [July 2025 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2025/07) - [April 2026 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2026/04) - [June 2026 (3)](https://blog.hodgescapital.com/capital-fast-five/archive/2026/06) - [February 2023 (2)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/02) - [April 2023 (2)](https://blog.hodgescapital.com/capital-fast-five/archive/2023/04) - [April 2021 (1)](https://blog.hodgescapital.com/capital-fast-five/archive/2021/04) - [June 2021 (1)](https://blog.hodgescapital.com/capital-fast-five/archive/2021/06) - [November 2021 (1)](https://blog.hodgescapital.com/capital-fast-five/archive/2021/11) [More...](https://blog.hodgescapital.com/capital-fast-five/5/12/2023#) ### Subscribe to the Hodges Friday Fast Five Hodges Capital Management, Inc.  2905 Maple Avenue Dallas, TX 75201   Toll Free: [(888) 878 4426](tel:+18888784426) Local: [(214) 954-1177](tel:2149541177)   [Regulatory Disclosures](https://www.hodgescapital.com/advisory-disclosures)   ## Contact Hodges Capital Copyright © 2023 | Hodges Capital Management | All Rights Reserved. Web Site Development by: [Goodwood Consulting](https://www.goodwood-consulting.com/) [Terms & Conditions](https://blog.hodgescapital.com/hubfs/Footer%20Links/HCM_Terms%20and%20Conditions_website_%202023_FINAL.docx) | [Privacy Policy](https://blog.hodgescapital.com/hubfs/Footer%20Links/Privacy_Policy.docx) | [Cookies Policy](https://blog.hodgescapital.com/hubfs/Footer%20Links/Cookies_Policy.docx) | [SMS Privacy Policy](https://www.hodgescapital.com/sms-privacy-policy) | [SMS Terms of Use](https://www.hodgescapital.com/sms-terms-of-use) ## Hodges Mutual Funds You are now leaving the Hodges Capital website and entering the Hodges Funds website. Do you wish to continue? [Yes](https://hodgesfunds.com/) ## Hodges Private Client You are now leaving the Hodges Capital website and entering the Hodges Funds website. Do you wish to continue? [Yes](https://www.hodgescapital.com/hpc) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Hodges Investment Team", "url" : "https://blog.hodgescapital.com/capital-fast-five/author/hodges-investment-team" }, "dateModified" : "2023-06-06T13:51:16.113Z", "datePublished" : "2023-06-06T13:51:16.000Z", "headline" : "Friday Fast Five - 5/12/2023", "image" : [ "https://blog.hodgescapital.com/hubfs/Hodges%20PC%20Clock_Gold%20(002).jpg" ], "mainEntityOfPage" : { "@id" : "https://blog.hodgescapital.com/capital-fast-five/5/12/2023", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://blog.hodgescapital.com/hubfs/Hodges-Capital-Color-1.png" }, "name" : "Hodges Private Client" } } ```