We're in a slow-motion melt-up according to Ed Yardeni
Source: Business Insider
🚨 BREAKING NEWS: US CPI for June just came in at -0.1% MoM below expectations of 0.1% MoM
US CPI for June just came in at +3% YoY below expectations of +3.4% YoY Core CPI inflation fell to 3.3%, below expectations of 3.4%. This marks the 39th consecutive month with inflation at or above 3%. It's also the 3rd straight month with declining CPI inflation. Looks like a September rate cut is coming. Source: Jesse Cohen
US CPI estimates by firm
TD Securities: 3.0% JP Morgan: 3.1% Wells Fargo: 3.1% Citadel: 3.1% Barclays: 3.1% CitiGroup: 3.1% Goldman Sachs: 3.2% Bank of America: 3.2% Morgan Stanley: 3.5% Previous: 3.3% Median: 3.1% Source: TrendSpider
Some wise words by Reagan
Source: Wall Street Silver
The 50 largest stocks in the S&P500 have a median return of +13% this year while the 50 smallest stocks in the index are down 12%.
$SPX Source: Charlie Bilello
An important US macro data is expected today: the CPI inflation data for June. The median forecast for headline CPI inflation is 3.1%, but markets are showing a wide range.
Prediction markets currently show that there is a 19% chance of June CPI inflation coming in ABOVE 3.1%, according to Kalshi. On the other hand, there's a 31% chance of inflation coming in BELOW 3.1%. There's even a 5% chance of CPI coming in above 3.3%, which would put inflation back on the rise. If CPI inflation comes in as expected, it would mark the 3rd straight monthly decline in YoY inflation. Source: The Kobeissi Letter
Nvidia $NVDA P/E hardly changed last 18 months
Source: Mike Zaccardi, Goldman Sachs
There is low volatility across asset classes.
Can it last? Source: Nautilus Research
