Retail investors are all in
Retail investors' inflows into U.S. stocks jumped over the last 2 weeks to their highest levels in at least 12 months. Aggregate net retail 5-day moving average purchases have more than DOUBLED in a month and hit~$1.7 billion last week. This comes after the S&P 500 fell ~7%, providing what proved to be a buying opportunity. Following the inflows, the S&P 500 surged over 8% from its low and is now 1.5% away from a new all time high. The risk appetite for stocks is still strong. Source: FT, The Kobeissi Letter
Is Powell a super hero?
As highlighted by Genevieve Roch-Decter, CFA in a post, despite interest rates at +20-year highs and QT still ongoing, we have: - the stock market at all-time high - gold at all-time-high - the total value of US real estate at a new record high - bitcoin at $60k. Meanwhile, inflation is cooling down while the US economy seems to be in decent shape with unemployment rate near record low. So far so good for the FED chair. Image by Adam Tooze on X
14% of PCs shipped globally in Q2 were AI capable
Source: Canalys
Massive money pours into the Invesco S&P 500 Top 50 ETF
Source: Bloomberg
One Million dollar baby... For the first time in history, a Gold Bar is worth $1 million
Source: Barchart, Bloomberg
"Unprecedented Swing": CTAs To Buy $86BN In Global Stocks This Week, The Most On Record
Source: zerohedge, Goldman
Flights, Hotels and Parks Are All Flashing Travel Warning Signs - Bloomberg
Facing an uncertain outlook, consumers are getting choosier when booking vacations and holding out for discounts. ‘We’re shifting back to normal.’
For the fourth consecutive month, the US LEI (leading indicators) has not signaled a recession ahead
Source: Mike Z.
