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Hodges Friday Fast Five

"In the investment business, you go to school every day, but never graduate." - Don Hodges


Friday Fast Five - 8/4/2023

by Hodges Investment Team, on August 4, 2023

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

#1 FIREARMS: The FBI released July NICS firearm background checks that came in at 2,015,789, representing a 16% y/y decline. Compared to 2019 levels, background checks were essentially flat.

#2 GASOLINE: AAA data suggest U.S. retail gasoline prices recently reached their highest levels since November and their second-highest price for this time of year over the last decade.

#3 SAVINGS: According to a recent Bankrate survey, 36% of people have more credit card debt than emergency savings. This is the highest percentage in 12 years of Bankrate asking this survey question.

#4 EARNINGS SEASON: As of August 1st, over 57% of the S&P 500’s market cap has been reported, according to Credit-Suisse. Earnings are beating estimates by 6.1%, with 75% of companies topping projections. EPS is on pace for a decline of 2.6%, assuming the current beat rate for the rest of the season. 

#5 DOWNGRADE: Fitch recently downgraded its U.S. debt rating from AAA to AA+. NBC News reported the only other time the U.S. faced a credit downgrade was in 2011, when Standard & Poor’s lowered its rating.  



 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. 

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