Markets are currently anticipating the first Fed cut in September and a potential second cut in December.
This week's US inflation data could shift these expectations backward or forward depending on how the data comes in. Source: Markets & Mayhem
In most cases, market breadth leads price. NYSE, S&P 500, and Midcap advance/decline lines all made new all-time highs last week.
Small caps are on the verge of new 52-wk highs. Some support for a potential summer rally? Source: Ryan Detrick
In 1971 the US came off the gold standard
Source: Game of Trades, Michael Burry Stock Tracker ♟
"Power Up America" theme is Goldman's top performing basket year-to-date w/+37.5% driven by global data centers' eye-popping demand for power.
17 of the 22 companies from the basket that have reported earnings have beat estimates by an average of +29%. Source: HolgerZ, Bloomberg
There is absolutely no fear in debt markets
Source: BofA
Earnings for the week of May 13, 2024
https://lnkd.in/eEaHXwcK $BABA $WMT $NU $HD $AMAT $BIDU $NXT $CSCO $JD $STNE $TTWO $SE $DE $OTRK $MNDY $LEGN $OCGN $WULF $DT $LUNR $GRAB $PBR $PSFE $SONY $NICE $HUT $TME $MNSO $OGI $DFLI $CPA $DHT $BITF $BKKT $HUYA $NOTV $QUIK $MAXN $KOPN $LSPD $HBM $ARQT $DDL $CGAU $CRLBF $DOCS $DOLE $ACXP $AGYS $GROY
Global foreign exchange reserves.
The US dollar still dominates but share has been eroding sligthly Source: Michel A.Arouet
In case you missed it... In the FT yesterday... "Slowbalization" and East-West divide in the making... 100% tariffs on EVs, wow.
Or is it just about US refusing globalization on industries they can just not compete?
