Commodities have truly broken out now.. Is anyone paying attention?
Source: Bloomberg, Andreas Steno Larsen
Amazing chart by Quartr.
It's quite astonishing: despite the NASDAQ 100's special mid-2023 rebalancing, the combined weight of $MSFT, $AAPL, $NVIDIA, $AMZN, $GOOGL, and $META still constitutes a substantial 38% of the index. Without this rare adjustment, the second of its kind in the last 25 years, these companies would currently represent 58% of the index.
Despite recent surge in prices, Silver remains quite cheap compared to gold, and the price of silver is well away from its prior all-time highs.
The so-called "silver squeeze" have disappointed many and prior rallies faded. But this time could be different. Industrial utilization is increasing and investor interest is as well... Could silver catch up with Gold? Source: Bloomberg, Markets & Mayhem
Google is considering charging for new “premium” features powered by generative artificial intelligence, in what would be the biggest ever shake-up of its search business.
The proposed revamp to its cash cow search engine would mark the first time the company has put any of its core product behind a paywall, and shows it is still grappling with a technology that threatens its advertising business, almost a year and a half after the debut of ChatGPT. Google is looking at options including adding certain hashtag#AI-powered search features to its premium subscription services, which already offer access to its new Gemini AI assistant in Gmail and Docs, according to three people with knowledge of its plans. Engineers are developing the technology needed to deploy the service but executives have not yet made a final decision on whether or when to launch it, one of the people said. Google’s traditional search engine would remain free of charge, while ads would continue to appear alongside search results even for subscribers. But charging would represent the first time that Google — which for many years offered free consumer services funded entirely by advertising — has made people pay for enhancements to its core search product. Source: FT
In the us, soft data (less reliable) has surprised to the upside a lot more than the hard data (more reliable) since the start of the year.
Source: Bob Elliott, The Daily Shot
Nvidia's $NVDA Revenue by product segment over the last 5 years
Source: Visual Capitalist
A funny one by Trend Spider
True story $SPY
The S&P 500 has not had a weekly drop of 2% or more since the week of October 23rd, 2023.
There have only been a total of TWO weekly drops in the entire 2024 so far. Since October 2023, the S&P 500 has added almost $11 TRILLION in market cap. That's more than 4 TIMES the value of the Canadian stock market added in 5 months. $11 trillion in market cap is also the same value of China's entire stock market. Source: The Kobeissi Letter
