It has been a very quiet year so far for US equity markets...
No down day > 2% for the SP500 despite Middle East conflict, China doing military exercises around Taiwan, Fed interest rates cuts expectations moving from 6 to less than 2, etc. Source chart: Ritholtz
Dot Com Bubble vs. Now - Things don't look similar - at least from an earnings angle
Source: Barchart, BofA
🚨: S&P 500 $SPY finished with its lowest volume in 18 years (excluding holiday-shortened trading days)
Source: Barchart
What US stock market concentration? Exhibit below
courtesy of Morgan Stanley and Factset - shows the market concentration at the end of 2023 for a dozen of the largest markets around the world. The U.S. is the fourth MOST DIVERSIFIED market notwithstanding the recent increase in concentration...
BREAKING: Nvidia stock, $NVDA, officially crosses above $1,200 for the first time in history.
Nvidia now has a market cap of $2.95 TRILLION and is just 3% away from passing Apple, $AAPL, as the largest public company in the world. To put things into perspective: the market cap per employee of Nvidia has hit almost $100,000,000. Source: Bloomberg, HolgerZ
Just 3 stocks - Microsoft $MSFT, Nvidia $NVDA, and Apple $AAPL - now account for 20% of the S&P 500
Source: Barchart
* Goldman Sees ‘Wall of Money’ Fueling Stock Market’s Summer Party
Source: Carl Quintanilla, Bloomberg
Another NVDA chart
Source: zerohedge
