Syz the moment

Sunday, 2/19/24 marked the four-year anniversary of the US stock market's peak closing level just before COVID hit in 2020. February 19th, 2020 was an unremarkable trading day that saw the S&P 500 rally about 0.5% and gold hit its highest level since 2013. At that point, the novel coronavirus was taking a serious toll on China, but there was still only slight anxiety and nervousness about it having a major impact on US shores. Below is a list of the best performing stocks in the Russell 1,000 since then. At the top of the list is energy-drink maker Celsius (CELH), which is far ahead of the pack with a gain of 3,030%. source : bespoke

Monthly exports increased 3.1% to 1.9 billion Swiss francs ($2.2 billion) by value, the Federation of the Swiss Watch Industry said Tuesday. Growth was as high as 11.8% in the first half of last year. The number of timepieces exported rose 2.9% to 1.2 million as shipments of the Swatch brand’s Blancpain and Omega collaborations drove demand at the low end. The number of exported watches priced above 3,000 francs fell 4.5% in January, even as their value rose 4.3%, the Federation said in a statement. At the same time, the number of watches exported with a wholesale price of less than 200 francs surged 5.5% driven by the Swatch Group AG’s namesake brand. Exports to the US, the biggest market for Swiss timepieces, rose by a modest 2.2% by value. Mainland China exports gained 5% while shipments to Hong Kong fell 4.7%. Exports of watches hit a record 26.7 billion Swiss francs by value in 2023, but the rate of sales growth slumped to just 3.6% in the second half of the year as consumers pulled back. source : swissinfo

The CME Group will be launching euro-denominated micro Bitcoin and Ethereum futures next month, answering surging demand in the derivatives market. The Chicago-based trading firm announced on Tuesday that it would launch the crypto futures for the European market due to the popularity of U.S. dollar-denominated counterparts. The futures will launch on March 18, pending regulatory review. source : decrypt

“Accelerated computing and generative AI have hit the tipping point.” ~ Jensen Huang. Nvidia crushed already high expectations: • Revenue +22% Q/Q to $22.1B ($1.6B beat). • Gross margin 76% (+2pp Q/Q). • Operating margin 62% (+4pp Q/Q). • Non-GAAP EPS $5.16 ($0.52 beat). Q1 FY25 guidance: • Revenue ~$24.0B ($2.0B beat). SUMMARY OF NVIDIA, $NVDA, EARNINGS CALL: 1. Nvidia says demand still far exceeds supply for its products 2. Conditions are "excellent" for continued growth into 2025 3. Nvidia spent $9.2 billion in cash on share buybacks 4. Data Center revenue of $18.4 billion is a new record and above expectations 5. Nvidia has not received licenses to ship restricted chips to China 6. Started to ship alternatives to China market in "small volumes". Source: App Economy Insights, The Kobeissi Letter

The Nikkei 225 hit an all-time high of 38,924.88 as robust corporate earnings and steps aimed at boosting investor returns fuel a blistering rally in Japanese equities this year. Nikkei and Topix have been standout outperformers in Asia Pacific, up more than 10% in 2024 after surging more than 25% in 2023 — their respective best annual gain in at least a decade. Source: Bloomberg, CNBC

Since 3:00 PM ET, the S&P 500 has added $600 BILLION of value and Nvidia is itself is responsible for ~$220 BILLION of the value being added. In other words, more than ONE THIRD of the S&P 500's value added since 3:00 PM ET came from Nvidia. Nvidia is now just ~20% smaller than the entire combined value of Germany's stock market.... Source: The Kobeissi Letter

The discussion came as policymakers not only decided to leave their key overnight borrowing rate unchanged but also altered the post-meeting statement to indicate that no cuts would be coming until the rate-setting Federal Open Market Committee held “greater confidence” that inflation was receding. The meeting summary indicated a general sense of optimism that the Fed’s policy moves had succeeded in lowering the rate of inflation, which in mid-2022 hit its highest level in more than 40 years. However, officials noted that they wanted to see more before starting to ease policy while saying that rate hikes are likely over. Members cited the “risks of moving too quickly” on cuts. Source: CNBC Activate to view larger image,

"Accelerated computing and generative AI have hit the tipping point. Demand is surging worldwide across companies, industries and nations." – Co-founder & CEO, Jensen Huang Nvidia reported fourth fiscal quarter earnings that beat Wall Street’s forecast for earnings and sales, and said that revenue during the current quarter would be better than expected, even against elevated expectations for massive growth. Revenue +265% *Data Center +409% *Gaming +56% *Professional Vis. +105% *Automotive -4% EBIT +983% *marg. 62% (21) EPS +765% Source: Quartr