A new all-time-high for sp500 to commodities ratio
Source: Worldbank, Econovis
😨 New European car registrations of Tesla vehicles totaled 8,837 in July, down 40% year-on-year, according to the European Automobile Manufacturers Association, or ACEA.
🏆 BYD recorded 13,503 new registrations in July, up 225% annually. 🚨 Elon Musk’s automaker faces a number of challenges in Europe, including intense ongoing competition and reputational damage to the brand. Source: CNBC
"Don't look for the needle in the haystack. Just buy the haystack!" - Jack Bogle
Source: Peter Mallouk @PeterMallouk
Analysts are raising their Nvidia $NVDA targets across the board
• JPMorgan: $170 → $215 • Rosenblatt: $200 → $215 • Benchmark: $190 → $220 • BofA Securities: $220 → $235 • Citi: $170 → $215 • Jefferies: $200 → $205 • KeyBanc: $215 → $230 • DA Davidson: $135 → $195 • Trust Securities: $210 → $228 Source: Stocktwits
The S&P 500 hits 6,500 for the first time in history.
Source: Brew Markets
🚨Hedge funds are dumping US stocks
Hedge funds sold $2.0 billion in single stocks and ETFs last week, bringing the 4-week average of selling to $0.5 billion. Interestingly, retail sold $0.9 billion, the 1st time in 8 weeks. Institutional investors bought $1.6 billion. Source: Global Markets Investors , BofA
The measure of intelligence is the ability to change
Source: Limitless Life @LimitlessLif3
Nvidia $NVDA CEO Jensen Huang just said this about China
"The China market, I've estimated, to be about $50 Billion opportunity for us this year" ... "you would expect it to grow say, 50% per year" "It is the second largest computing market in the world, and it is also the home of about 50% of the world's AI researchers, the vast majority of the leading open source models are created into China. And so it's fairly important, I think, for the American technology companies to be able to address that market." Source: Evan
