👎 BIG BREAKING >>> Super Micro Computer stock, $SMCI, falls 27% after Ernst & Young announces they refuse to audit the company going forward.
EY is "unwilling to be associated with the financial statements prepared by management," the statement said. 🚨 $SMCI stock is imploding Source: CNBC
Of the 100 largest companies (the S&P 100), there are 25 who are trading for more than 50x reported earnings.
Meantime, there are zero companies trading for less than 10x earnings. Source: Jeff Weniger
US equities Bull markets go on longer than many of us think they will.
Source: Carson, RBC
An image is worth 10,000 words...
The Trump trade visual (Republican basket index in red, Democrats basket in blue) Source: Bloomberg, GS, RBC
European stocks are hit by a ‘Trump effect’ as odds tilt towards Republican win.
A basket of 22 European stocks exposed to US tariffs compiled by Goldman Sachs has tumbled 5% since late September as the former president’s odds of an election victory shorten. The basket, which includes Diageo, Porsche, Mercedes, Adidas or Moller Maersk is now down 11% this year, compared with an 8% rise for the broader European stock market and 22.5% for the S&P500. Source: HolgerZ, Bloomberg
Yesterday was the second biggest jump in Tesla $TSLA stock on record (+22%)
Only May 9, 2013 was bigger: that's when Tesla reported its first ever quarterly profit. Elon added $26BN to his net worth. Source: Bloomberg, zerohedge
Hedge Funds are buying U.S. Stocks at the fastest pace this year 🚨
Source: Barchart
Finally some red on the S&P 500 index heat map...
US stocks plummeted yesterday as 10-year treasury yields and us dollar have risen for the last couple of weeks. Gold and Silver dropped sharply as well. Performance today: S&P 500 -0.9% Nasdaq -1.6% Russell 2000 -0.9% Dow Jones -1.0% Bitcoin -1.6% Bank Index +0.3% VIX +6%, front mth futures VIX +5% Gold -1.1% Silver -3.5% WTI Crude Oil -1.0% Source: Global Markets investor
