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

#1 Used Vehicles: Although down slightly in September compared to August, wholesale prices for used vehicles were still up 2% year-over-year and remain elevated, according to Manheim.

#2 Home Equity: According to Bespoke, homeowner equity is hovering above 70%, the highest level since the late 1950s.

#3 Tax Relief: The Joint Committee on Taxation and Piper Sandler estimate that the One Big Beautiful Bill Act could deliver around $191 billion in net new individual income tax relief in calendar year 2026 (approximately 0.6% of GDP).

#4 Holiday Spending: A recent KeyBanc Capital Markets survey found that 47% of respondents expect to increase spending over the coming months compared to the prior year. This compares with 25% in 2024 and 35% in 2023.

#5 Fund Flows: Relative flows toward value continue to gain momentum, according to Jefferies. Over the past five weeks, value funds have seen $1.4 billion of inflows versus $10.7 billion of outflows for growth funds.

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