US earnings season update: so far so good...
Companies are beating, EPS growth is more than double so far vs expectations.. but beats are barely getting paid, while misses are getting pounded a little worse. Source: Goldman Sachs, RBC
Markets have fully priced three Fed rate cuts by the January meeting. That's a cut at three of the next four FOMC meetings.
Source: David Ingles @DavidInglesTV, Bloomberg
Trump: I'm not even looking at the stock market
Source: Trend Spider
“Insiders at just 151 S&P 500 companies bought their own stocks last month, the fewest since at least 2018, according to data compiled by the Washington Service.”
Source: Kevin Gordon on X, Bloomberg
The European Union will delay planned tariffs for six months to allow for trade talks
The European Union announced Monday that it is suspending for six months its planned countermeasures against the United States’ tariffs, which which were set to take effect this week. “On 27 July 2025, European Commission President Ursula von der Leyen and US President Donald J. Trump agreed a deal on tariffs and trade,” the EU Commission spokesperson for trade said in a statement. The spokesperson touted the agreement as restoring “stability and predictability for citizens and businesses on both sides of the Atlantic.” “The EU continues to work with the US to finalise a Joint Statement, as agreed on 27 July,” the spokesperson said. “With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EU’s countermeasures against the US, which were due to enter into force on 7 August.” Source: CNBC
FY25 EPS revisions in Europe are trending somewhat worse than that of a typical year.
Source: Barclays, The Market Ear
US Factory Orders Tumbled In June By The Most Since COVID
Source: zerohedge
The "buy the dip" mentality is intact.
$ARKK Cathie Wood's ARK Innovation fund $ARKK saw its largest ever single day of inflows on Friday. Source: Koyfin
