TRUMP HITS LOWEST APPROVAL OF SECOND TERM AT 37%
Six months in and the honeymoon's over. Independents crashed from 45% to 29% - that's the real story here. Republicans still at 89% (cult-like loyalty intact). Democrats at 2% (shocking absolutely nobody). The independent collapse matters most. They decide elections, and they're abandoning ship at record pace... Source: Gallup Poll, @AFpost thru Mario Nawfal
German business activity continued to grow marginally in July, though at a slightly slower pace than in June.
The German flash composite PMI fell to 50.3 points in July, down from 50.4 in June and below the 50.7 forecast in a Reuters poll. Source: Bloomberg, HolgerZ
Us equities markets very EXTREMELY expensive: The Shiller P/E ratio on the S&P 500 is now at 38.8x, the highest since the 2000 Dot-Com Bubble burst.
The Shiller P/E ratio is higher than it has been 96% of the time in history. Source: Global Markets
Nasdaq posted its 63rd consecutive day above its 20-day moving average, the longest streak since the dot com bubble.
Source: zerohedge, Bloomberg
The Mag 7 has consistently blown the doors off EPS estimates
Mag 7 EPS growth is expected to hit 14% this quarter Source: Mike Zaccardi, CFA, CMT, MBA, JP Morgan, Bloomberg
LOOK OUT: $ETHA iShares ethereum Trust ETF just hit $10b in one year flat, the 3rd fastest ETF to hit that mark in history after (you guessed it) two bitcoin ETFs $IBIT & $FBTC.
Amazingly it went from $5b to $10b in just 10 days. The ETF is Top 5 in flows for the last month and the week Source: Bloomberg, Eric Balchunas
$PLTR trailing P/E: 336x
Source: Trend Spider
Foreign Investors now own $2.5 Trillion more in U.S. Stocks than U.S. Debt, the widest gap ever
Source. Barchart, BofA
