Major divergence spotted:
The VIX has been trending higher since mid-May. But even the SP500 has been moving higher. This is an anomaly. Source: Game of Trades
Amazon enters elite $2tn club as AI optimism fuels rally.
Amazon up ~27% this year, driven by improving growth trends as AI re-accelerates its cloud-computing business. The milestone puts Amazon into an exclusive club of comps worth $2tn or more: Alphabet crossed the level in April, while Nvidia, Microsoft, and Apple are all worth north of $3tn. (via BBG)
Jensen Huang said that the next wave of AI is set to automate $50 TRILLION heavy industries
He also said, "The Blackwell architecture platform will likely be the most successful product in our history and for the entire history of computers." Source: Stocktwits
The Fed has been shrinking its balance sheet at the fastest pace ever:
Since April 2022, the Federal Reserve has reduced its balance sheet by $1.71 trillion to $7.25 trillion, a 19% decline. By comparison, from 2017 to 2019 the Fed’s balance sheet runoff amounted to 16%. However, the Fed's balance sheet still stands $3.1 TRILLION above pre-pandemic levels. Meanwhile, the Fed slowed the pace of runoff from $95 billion to $60 billion a month at the beginning of June. Will the Fed's balance sheet ever reach pre-pandemic levels?
Visualizing the incredible surge in tech stocks 📊
Markets & Mayhem 🤖
BREAKING 🚨: U.S. Treasury Market
Treasury liquidity is now at its worst point in AT LEAST the last 14 years, surpassing even the onset of Covid Source: Barchart, Robin Brooks
Yesterday the SP500 managed to rise on negative breadth.
It's now been five days in a row where price has gone in one direction and breadth has gone in the other. That ties the record streak from April 1999. Source: Bespoke
If you ever get upset for selling too early just know it could have been worse.
Meet Ronald Wayne Apple's 3rd co-founder who sold his entire 10% stake in the company for $800 back in 1976. 10% of Apple $AAPL is currently worth ~$328 Billion... Source: Evan
