This has happened ONLY 2 times in the last 75 years. In the US, savings as a % of income is now contracting, indicating that people are find it VERY hard to save
The last 2 contractions happened in: - 2008 - 2020 High interest rate + high debt is a MAJOR problem for people Source: Game of Trades
Microsoft $MSFT has joined Apple $AAPL as the 2nd individual company that has a bigger market cap than the combined market cap of all stocks in the small-cap Russell 2,000:
Source: Bespoke
Moody’s cuts U.S. credit outlook from stable to negative. Will markets just shrug it off on Monday?
Source: Trend Spider
Taiwan Semiconductor 2nd attempt
Taiwan Semiconductor (TSM US) is trying to breakout June downtrend resistance for the second time. This time volume is very strong. Source : Bloomberg
Diageo looking for support
Diageo (DGE LN) down 15% today, under a lot of pressure. Next support level is the 2009 uptrend support around 2660. There is also another support at 2500. Source : Bloomberg
Walt Disney breaking out ?
Walt Disney (DIS US) has consolidated 60% since March 2021 ! Has tested the last two months the 79 support represented by March 2020 low. Now the stock is showing signs of breakout August 2022 downtrend. Keep an eye. Source : Bloomberg
The growth rate of capital being poured into retail money market funds (MMFs) is at its highest level in several decades
Retail MMFs recently surpassed $1.6 trillion; a record high. Source: Koyfin @KoyfinCharts
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has announced plans for a challenge focused on generative artificial intelligence
The winners is set to receive a total of Dh1 million ($272,290) amid the emirate's shift towards the future economy. The Global Prompt Engineering Championship will be held in May next year at Dubai’s Museum of the Future. In the context of AI, a prompt refers to a specific request made to a language model such as ChatGPT, which can in turn provide a response or solution for a user. Source: The National News