UK election
Source: No Context Brits on X
What is the link between the Japanese index Topix and Taylor Swift?
Finally after 35 years Japan's Topix has topped its 1989 high, which on a completely unrelated note was hit a few days after the birth of Taylor Swift... Source: David Ingles, Bloomberg
Another new low for the Citigroup US surprises index on the back of poor macro numbers this week (ADP employment, ISM services, etc.)
Source: Bloomberg, Ronald-Peter Stoeferle, CMT, CFTe, MSTA
Here's the link to a great article from Sequoia which argues the tech industry needs $600B in AI revenue to justify the money spent on GPUs and data centers:
https://lnkd.in/exFU9Wdp Bottom-line >>> OpenAI is the biggest AI pure play and is at $3.4B annual run rate. This feels like a bubble unless products worth buying show up. Source: Sequoia, Dare Obasanjo @Carnage4Life
Bitcoin at Major Support Zone
Bitcoin (XBTUSD) is now testing the major support zone between 56,500-58,000. This zone is critical because if it breaks, the consolidation that started in March could become more complex and volatile. It would open the door for a test of the next support level at 50,700-52,250 or even the 45,000 levels. But for the time being, keep an eye out for a rebound at this level. Source: Bloomberg
The last time the market was this lopsided, Lehman filed for bankruptcy
Source: www.zerohedge.com, Bloomberg
Bets of a Kamala Harris nomination are exploding
Source: Bloomberg
Nvidia in 2024 vs. Cisco Systems in 2000..
Nvidia recently earned the most valuable company in the world status with an EV of $3.3 trillion, a record 11.7% of total US GDP at its recent peak on June 18, more than twice as high as Cisco’s achievement in 2000. It also has an even richer multiple of 41 times revenues. Will be future growth be up to the lofty market expectations? Source: Crescat Capital, Bloomberg, Tavi Costa
