JUST IN: Over $200 billion added to the cryptocurrency market today.
Source: Coingecko
$IBIT iShares Bitcoin ETF just had its biggest volume day ever with $4.1b traded..
For context that's more volume than stocks like Berkshire, Netflix or Visa saw today. It was also up 10%, its second best day since launching. Source: Eric Balchunas, Bloomberg
Are you wondering why US smallcaps are surging?
As highlighted by GS: GOP House control could enable corporate tax reform, potentially reducing the tax rate from 21% to 15% and increasing EPS estimates by 4%. Source: Mike Zaccardi, CFA, CMT, MBA, GD
Fun fact: This was only the 5th time since 1960 that $SPX returned more than 2.5% while simultaneously breaking into an all-time high.
The last time this happened was March 21st, 2000. Source: Tier1 Alpha
JUST IN: MicroStrategy breaks $50 BILLION market cap and is now worth more than Ford Motor Company.
Ford has lost ~60% of its market cap since 2022 and holds $26 BILLION in cash, about 65% of its total market cap! The "melting ice cube" of cash holdings, eroded by inflation year after year. This is what Michael Saylor feared for his company when he decided to buy Bitcoin in 2020. MicroStrategy's market cap is UP ~45x since then. Source:
Nvidia is once again the most valuable company in the world.
Surpassing Apple and underscoring just how dominant AI has become on Wall Street. Nvidia's largest customers reported last week and explicitly stated that supply, not demand, remains a constraining factor. Source: HolgerZ, Bloomberg
THIS IS AN ABSOLUTELY WILD MOVE >>>
The 30-year US Treasury jumped by a massive 22 basis points, the biggest spike since the COVID CRISIS. At the same time, the 10-year yield jumped by 16 basis points, to the highest since July. Meanwhile, the Fed is going to cut today.... Source: Global Markets Investor
Trump win over Harris in one map
Source: Michel A.Arouet
