An immediate consequence of soaring oil prices mean -> Soaring gas prices in the US
Now at their highest for this time of year since 2012 (and 2nd highest ever)... not great for headline inflation and consumer purchasing power Source: Bloomberg, www.zerohedge.com
Despite the rise in bond yields, the Nasdaq 100 held up better than the Dow and other US indices on Tuesday
Tuesday was the way the Nasdaq's second best performance relative to the Russell 2000 since November 2021, breaking out to a new cycle high. The last time Nasdaq/Russell 2000 traded here was March 2000 - the very peak of the dotcom bubble... Source: Bloomberg, www.zerohedge.com
Can it last?
$TSLA 👇Albert Bridge Capital thru Michel A. Arouet
6 Potential Problems for China’s Economy
Source: Barchart
The cost of innovation
Did you know that $AMZN has spent more on R&D over the last twelve months than $AAPL, $MSFT, and $INTC *combined*? See below the World’s Top 10 R&D Spenders Source: Quartr
The most valuable listed company in Europe now comes from Denmark
Novo Nordisk has overtaken luxury goods group LVMH on the stock market. It is now worth >€400bn, LVMH 'only' €382bn. The Danish drugmaker on Monday introduced Wegovy in Britain after launching it in the US in June 2021. Soaring demand in the world’s largest drug market subsequently delayed marketing in Europe. The drug is already available in Norway, Denmark and Germany. The company said on Monday that the drug would be introduced to the UK “through a controlled and limited launch”. Novo Nordisk is the largest producer, by sales, in a market for diabetes and new weight-loss drugs that analysts forecast would reach $130bn to $140bn in annual sales worldwide. The company’s biggest competitor in the market, Indianapolis-based Eli Lilly, has applied for regulatory approval to use its diabetes drug Mounjaro to treat obesity. Source: FT
LVMH approaching major breakout support zone
LVMH (MC FP) is approaching major support level 733-741, represented by November 2021 to December 2022 highs but also January 2023 breakout. Keep an eye on it. Source : Bloomberg
Brent Oil hits $90/bbl for 1st time since Nov as Saudi Arabia extended its unilateral oil production cut by another three months
Source: Bloomberg, Holger
