Magnificent 7 Corporate Executives are dumping shares are the fastest rate since 2021 🚨
Source: Barchart, Bloomberg
6 out of the top 20 stocks in the SP500 this year are in the Semiconductor space
Nvidia once again leading everything w/ a gain of +66%. $NVDA . Source: Charlie Bilello
Saudi Arabia, de facto leader of the Organization for the Petroleum Exporting Countries, will extend its voluntary crude production cut of 1 million barrels per day until the end of the second quarter
-> the state-owned Saudi Press Agency said Sunday, citing a source from the country’s Ministry of Energy. Riyadh’s crude production will be approximately 9 million barrels per day until the end of June, the announcement said..$ Russia will trim its production and export supplies by a combined 471,000 barrels per day until the end of June, Russian Deputy Prime Minister Alexander Novak said Source: CNBC https://lnkd.in/eJWWckDe
Another damming poll for Biden: With 8 mths left until Nov election, Joe Biden’s 43% support lags behind Donald Trump’s 48% in the national survey of registered voters
The share of voters who strongly disapprove of President Biden’s handling of his job has reached 47%, higher than at any point in his presidency. The betting markets are now also backing Trump. PredictIt has him 6%-pts ahead. Source: Bloomberg, HolgerZ
Japan's Nikkei smashes 40,000 barrier as Asia markets track Wall Street gains
Source: HolgerZ, Bloomberg
Communication
Source: Seek Wiser
Inflows to crypto funds
The recent approval of bitcoin ETFs, which has enabled record crypto fund inflows, to the tune of $7.7 billion already which blows all of 2021's $5.2 billion inflows (the year when bitcoin hit its previous all time high) away, which also means that the current explosion in crypto is taking place with far less leverage. Annualize that, and you get a shocking number. Source: BofA
Bears right now
(picture courtesy of Barchart)
