The S&P 500 reached a record $54.3 trillion in market cap last week, adding $1.1 trillion in 1 week.
Since the August low, the index's market cap is up a massive $8.5 trillion. Furthermore, the index has added $12.4 trillion in value since the beginning of 2024. The S&P 500 has added 78% of Europe's market cap and DOUBLE the size of the Japanese market in 1 year. As a result, the US market cap to GDP ratio has reached an all-time high of 209%. Source: The Kobeissi Letter
All eyes on the Nasdaq 100.
Over 25% of stocks in the index report earnings this week... Source: Trend Spider
“Far more money has been lost by investors in preparing for corrections, or anticipating corrections, than has been lost in the corrections themselves.” - Peter Lynch
Source: J-C Parets
According to BofA, we've just seen one of the largest month-over-month allocations to European equities on record.
Is this signaling a European comeback, or simply a rotation ? source : BofA
Bear markets pale in comparison to bull markets, both in market movement and duration.
Remember this chart during the next - and inevitable - correction or bear market. Source: Peter Mallouk
The 2nd largest rotation into european equities in the last 25 years is currently taking place.
Source: Bloomberg, Barchart
Three years ago, you could have invested in $INTC at just 14x forward earnings or $NVDA at 45x forward earnings.
The returns: $NVDA: +503% $INTC: -55% As Terry Smith said, "Owning good companies is more important than owning undervalued companies." Source: Wolf of Harcourt Street @wolfofharcourt
Record strong breadth!
Yesterday was the 6th consecutive day that more than 2/3 of the S&P advanced. First time this has happened in 30+ years. h/t @FrankCappelleri
