Why Buffett is dumping Bank of America $BAC stock:
Provision for credit losses highest since covid lockdown Source. zerohedge
$NVDA notches record high, looks to unseat Apple as world's most valuable company:
1- Apple $3.517 Trillion; 2- Nvidia $3.387 Trillion Why is Nvdia stock still running? • $GOOGL ordered 400K GB200 chips valued at $10B • $MSFT purchased 60K GB200 chips worth $2B • $META acquired 360K GB200 chips for $8B. Demand for Nvidia's Blackwell chip is absolutely INSANE...
BREAKING: The equity put-to-call ratio has dropped to 0.44, the lowest since July 2023.
This is also the second-lowest level since March 2022. In other words, the appetite for hedging against a stock market decline is at its lowest in years. This is despite October being the worst month for stocks on average during Presidential Election years. Meanwhile. the SP500 has hit 45 all-time highs this year and is up 23% YTD. The resilience of this market is truly remarkable. Source: The Kobeissi Letter
Both the Goldman and the UBS "Republican victory" baskets are approaching all time highs as "Democrat victory" trades slump
Source: zerohedge
The benchmark German equity index Dax has hit a fresh ATH.
Since the start of the year, the index has risen by 17%. However, this growth is driven entirely by higher valuations. The Dax's price-to-earnings (P/E) ratio is nearly 15, and if you exclude the dirt-cheap car stocks, it jumps to 17. Source: Bloomberg, HolgerZ
😱 The shocking chart of the day >>> The median value of US households’ stock portfolios has surged to $250k this month... 😱
This is twice as much as in early 2023... Middle to high income households enjoy a very strong "wealth effect" as both real estate and stock prices hit all time highs... Source: Stocktwits
Who is buying back their stock?
Source. DB, Bloomberg
WONDERING WHY US STOCKS HAVE BEEN RALLIED SO HARD THIS YEAR
Part of the reasons is share buybacks which currently stand at all-time highs. As shown on the chart below, US share repurchase authorization announcements hit $988 billion, the most on record. This is 3 TIMES HIGHER THAN in 2020 and up 21% year-over-year. Source: Global Markets Investor, Goldman Sachs
