🚨 BANK OF AMERICA OUTAGE LEAVES CUSTOMERS UNABLE TO ACCESS ACCOUNTS, SPARKS PANIC🚨
Bank of America customers experienced a major outage on Wednesday, with many unable to access their accounts or seeing $0 balances. The issue, reported on Downdetector, began around 12:45 pm ET. While the bank's app stated accounts were "temporarily unavailable," users flooded social media with concerns. Bank of America has yet to clarify the cause or confirm if funds were at risk. Source: Downdetector thru Mario Nawfal
Total US debt explodes to $35.7 trillion on Oct 1, up $345 billion from Sept 27.
Source: www.zerohedge.com
"The demand for Blackwell is insane." - $NVDA CEO Jensen Huang on CNBC just now
JPMorgan said today that Nvidia expects several billion of Blackwell revenue in Q4 Source: Stocktwits
Bullish sentiment is through the roof:
US equity futures positioning by investors excluding market-makers just hit a net long of ~$290 billion, the most on record. Since the beginning of the year, net long positioning has more than DOUBLED. This is also twice as high as during the previous peaks seen in early 2018 and 2020. Meanwhile, US households' stock allocation as a percentage of financial assets hit a new record of 41.8% in Q2 2024. Investors are all-in on stocks. Source: The Kobeissi Letter
The S&P 500's Dividend Yield has moved down to 1.27%, tied with Q4 2021 for the lowest yield since 2000.
Source: Charlie Bilello
Here's a crazy stat on this Chinese equity rally.
A momentum gauge of the Hang Seng Index just hit the highest level in 50 years. The % of members signalling overbought conditions is at a record. Source: Bloomberg, David Ingles
Michael Burry has had a sensational 2024 so far.
His fund is up 39%. Over the last 8 years he has also managed to provide returns of 345% compared to 110% for the S&P 500...! He only holds 10 companies. Source: @MMMTwealth
Financial statement red flags.
Nice summary by @safalniveshak thru Brian Feroldi
