History was made yesterday! The Russell 2000 closed 4.4 standard deviations above its 50-day moving average.
No other major US index (Dow since 1900, S&P 500 since 1928, and Nasdaq since 1971) has ever closed at that much of an extreme. Source: Bespoke
Some good news for Wall Street?
Donald Trump will not seek to remove Federal Reserve Chair Jerome Powell before the central banker’s term ends and would consider JPMorgan CEO Jamie Dimon for Treasury secretary if he won the Nov. 5 election, the former president told Bloomberg in an interview published on Tuesday. JPMorgan declined to comment on Trump’s remarks. Powell’s term as chairman runs through January 2026, and his position as a Fed governor continues until 2028. The interview was conducted in late June, according to Bloomberg.
For context, the four-day reversal in the Nasdaq 100 / Russell 2000 ratio is the greatest shift in the US Big-Tech / small cap pair since the collapse of the DotCom bubble...
Source: Bloomberg, www.zerohedge.com
The dichotomy between gold (orange line( and the US 10-year real rate (the red line) is becoming massive...
Source: www.zerohedge.com, Bloomberg
BlackRock generated $4.8 billion in revenue in the quarter, an 8% increase from the same period last year.
This growth was driven by a record $10.6 trillion in assets under management, led by high ETF flows. Source: Genuine
Police fatally shot a man Tuesday about a mile away from the main Republican National Convention venue in Milwaukee, CNN affiliate WISN reported.
Witnesses told the station that two men were fighting in a local park when one of them pulled a knife out. Witnesses said the men were startled when officers responded and the man with the knife was shot by multiple officers, WISN reported, noting those details had not been confirmed by police. Source: CNN
Peter Lynch about the risks of over-diversification
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A vision of the future from 1930.
Source: Jon Erlichman
