Nvidia is 3% of global market cap. The other 82,292 stocks (Bloomberg-tracked primary listings) make up the other 97%.
Source: David Ingles, Bloomberg
The Coastal Journal on X highlighted one important item published out of WellsFargo quarterly earnings results: a • $188B repo surge 📈 (+34%) in just 90 days.
While Wells Fargo $WFC beat earnings estimates, the stock is down -5.5% after market Are liquidity cracks are forming beneath the surface?
🔴 Japanese insurers' unrealized LOSSES are HUGE
▶️ The biggest insurers’ paper losses on their domestic bond holdings hit a record ¥8.5 TRILLION ($60BN) in Q1. 💥 Nippon Life, the largest insurer and the world’s 6th-largest saw ¥3.6TN ($25BN) LOSS. Source: Global Markets Investor
Cryptocurrency-related bills backed by US President Donald Trump failed to clear a key procedural step in the House of Representatives on Tuesday, despite the president’s public push for action.
Trump had urged Republican lawmakers to “get the first vote done this afternoon” on legislation to regulate payment stablecoins as part of a larger effort to pass crypto legislation before the August recess. In a Tuesday post on his social media platform Truth Social, Trump ordered all Republicans to vote yes on the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a bill designed to regulate payment stablecoins in the US. House Speaker Mike Johnson reportedly said the chamber would take up another vote “this afternoon.”
JPMorgan $JPM CEO Jamie Dimon said today he doesn’t get the appeal of hashtag#stablecoins, but he also can’t afford to stay on the sidelines - CNBC
Source: Evan
Over the past 24 hours, Bitcoin investors realized $3.5B in profits.
🔹 Long-term holders took $1.96B (~56%) 🔹 Short-term holders took $1.54B (~44%) One of the largest $BTC profit realization days this year - driven mostly by long-term holders. Source: Glassnode
⚠️ JPMorgan Chase on Tuesday topped analysts’ estimates on better-than-expected revenue from fixed income trading and investment banking.
▶️ The bank said that second-quarter earnings fell 17% to $14.9 billion, or $5.24 a share, from the year-earlier period, when it had a $7.9 billion gain on Visa shares. But even when backing out a $774 million income tax benefit that boosted per share earnings by 28 cents, JPMorgan topped estimates for the quarter. 🔴 $JPM JPMorganChase Q2 FY25. • Net revenue -11% Y/Y to $44.9B ($1.7B beat). • Net Income -17% Y/Y to $15.0B. • EPS: $4.96 ($0.48 beat). • FY25 NII ~$95.5B ($1.0B raise). Source: App Economy Insights, CNBC
The Q2 2025 earnings season begins this week, with analysts forecasting modest S&P 500 EPS growth of 4.8%, the lowest rate since Q4 2023.
Early reports have already painted a mixed picture, showing strong AI and travel demand ( $MU, $DAL ) but softness in consumer goods and shipping ( $NKE, $FDX). The spotlight is now on the big banks, with $JPM, $C, $WFC, and others reporting Tuesday and Wednesday. In their reports, we'll be watching for commentary on three key themes: credit quality, a potential recovery in investment banking, and the expected plateau in net interest income. Source: Wall Street Horizon
