Five interesting things that Hodges Capital research analysts discovered this week...
#1 MID-TERM DRAWDOWNS: Per Roth Capital Partners, of the last nineteen midterm years, five have produced a pre-election drawdown of 24% in the S&P 500. The average drawdown is 16%, while the median is closer to 14%.
#2 TRUCK CAPACITY: Seasonally adjusted net Class 8 truck orders came in at 19.6k in August, down 35% month over month but up 32% year over year. This month's orders were below the 10-year average monthly order rate of 25k, according to ACT.
#3 CONSUMER BANKRUPTCIES: According to Arbor Research, more than a quarter (26.8%) of the 136,000 new consumer bankruptcies in 2Q26 were among 40–49-year-olds. This was followed by 50–59-year-olds at 23.1%.
#4 NFL SEASON OPENER: The Patriots are the only NFL team in the last 30 years to throw 3+ interceptions, take 3+ sacks, commit 3+ penalties, and score 0 points in a single quarter of a game, according to OptaSTATS.
#5 HOW MANY SHIPS? Data from MarineTraffic recently indicated there were about 467 ships in the Strait of Hormuz, including 162 cargo ships and 42 tankers, 18 of which were carrying oil.
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.