Nvidia is once again the most valuable company in the world.
Surpassing Apple and underscoring just how dominant AI has become on Wall Street. Nvidia's largest customers reported last week and explicitly stated that supply, not demand, remains a constraining factor. Source: HolgerZ, Bloomberg
A Split Congress Tends To Be The Best For Stocks
This year will be the 13th year in a row stocks didn't fall when there was a split Congress. Source: Carson, Ryan Detrick, CMT
New York Post Cover
Pretty well overall, but also up the past five elections. Source: Carson, Mike Zaccardi, CFA, CMT, MBA
Some Trump trades really going for the extreme...
Russell futures vs the 10 year trading with a gap not seen in ages. Source: The Market Ear
Goldman has some potential reaction functions:
* Trump w/ Republican Sweep = 25% probability; S&P +3% * Trump w/ Divided Government = 30% probability; S&P +1.5% " Harris w/ Democratic Sweep = 5% probability; S&P -3% * Harris w/ Divided Government = 40% probability; S&P -1.5% Source: Carl Quintanilla on X, Goldman Sachs
$SPY Price Action Around Elections
In the last three election cycles, we've seen risk-off behaviour before the vote, followed by a strong rally in the weeks that follow. This year’s pattern is shaping up similarly, will history repeat? Source: TrendSpider @TrendSpider
Traders have built the largest long US Equity Futures position in history, now worth more than $300 Billion
Source: Stocktwits
Markets are pricing a large move on Nov. 6th
Source: Mike Zaccardi, CFA, CMT 🍖@MikeZaccardi
