The stat of the day >>>
Yes, the Fed has already cut near all-time-highs and you know what ❓ The Bulls 🐮 Liked it 👍 The S&P 500 is less than 2% away from all-time highs the day before a Fed decision. Since 1980, there were 20 other times they cut rates within 2% of ATHs. The S&P 500 was higher a year later 20 times 🚀 Source: Ryan Detrick, CMT @RyanDetrick
Apple now trades at over 41x earnings, its highest P/E ratio since 2007 (first iPhone was released).
When Berkshire Hathaway started buying Apple in 2016 it was trading at less than 10x earnings. Berkshire sold 67% of their stake this year. $AAPL Source: Charlie Bilello
"The MSCI US now accounts for a staggering 74% of the market capitalization of the All Country World MSCI."
Source: Yardeni
BREAKING >>> The Dow Jones just hit an 8-day losing streak
The longest since 2018 $DIA
To put things into perspective:
Chip specialist Broadcom has added $324bn to its market value in just 2 days—exceeding the entire market value of Germany's largest company, SAP, which is worth $310bn. Source: HolgerZ, Bloomberg
This is crazy: 11 consecutive days of more decliners than advancers in the S&P500.
First time since Sept 11, 2001 Source: zerohedge
BREAKING 🚨: Japan
Japanese Stocks $EWJ formed a Death Cross for the first time since December 2021 ☠️ The last one saw stocks enter a bear market with a plunge of more than 30%. Source: Barchart
US stocks now make up 65% of the global equity market, their highest weighting in history.
This is more than 11x bigger than the second largest country by market cap (Japan at 5.5%). Source; Charlie Bilello
