The last time the S&P 500 rose more than 40% over 12 months was in 1987.
Source: The Great Martis @great_martis
👎 BIG BREAKING >>> Super Micro Computer stock, $SMCI, falls 27% after Ernst & Young announces they refuse to audit the company going forward.
EY is "unwilling to be associated with the financial statements prepared by management," the statement said. 🚨 $SMCI stock is imploding Source: CNBC
$META is developing an AI search engine to lessen reliance on Google and Microsoft.
#meta #nvda #googl
The shocking chart of the day >>> ChatGPT vs Google: Who’s Burning More Energy?
AI is a power-hungry beast, and ChatGPT is no exception—it uses enough energy daily to power 17,000 US homes! In comparison, Google’s vast infrastructure handles trillions of searches but has been optimizing energy consumption for years. Source: AIM on X @Analyticsindiam
One of the most important news today:
Volkswagen targets layoffs and 10% pay cuts amid plans for German plant closures, union says. Source: Bloomberg
JPMorgan CEO Jamie Dimon just said the American 🇺🇸economy is still booming and inflation may not go away so quickly
Source: Evan on X
Palladium hits highest price since December
Source: Barchart
This is one of the most resilient stock market in history:
The S&P 500 has been trading above its 200-day moving average for 247 straight sessions, the third-longest streak in 8 years. The previous 2 records were posted in 2016-2018 and 2020-2021 which lasted for 430 and 400 trading days, respectively. Over the last 12 months, the S&P 500 is now up over 40%, marking the 4th best 12-month performance this century. There have been only three other occurrences since 2000 when the index rallied at least 39% year-over-year: 2004, 2010, and 2021. To put this into perspective, the S&P 500's average annual return since 1957 has been ~10%. Source: The Kobeissi Letter, The Daily Shot
