It's starting to feel a bit more crowded
Source: mayhem4markets
Europe's leading stock index reaches 500 points for the first time, 24 years following its achievement of 400 points
source : Bloomberg
Interesting chart showing the # of stocks that are up 100%+ YoY with a price to sales ratio greater than 10 over time.
Currently not nearly as frothy as the Dot Com bubble peak months and the peak months during the meme stock rally in late 2020/early 2021. Source: Bespoke
Less and less listed companies; but big companies are getting bigger...
The number of publicly listed companies in the US has declined by 50% since 1995. Currently, there are just over 4200 public companies in the US. The same trend has been seen in the number of banks in the US which was at 31,000 in 1920 but just 4,000 today. Meanwhile, the top 10% of stocks in the US now reflect ~75% of the entire market. This is, by far, the most concentrated 🇺🇸 stock market since the Great Depression in 1931. Even in the Dot-com bubble of 2001, concentration of the top 10% of stocks peaked at ~72% before the 2008 Financial Crisis, it peaked at nearly 66%. Big companies are indeed getting bigger! Source: The Kobeissi Letter, Wall Street Engine
Goldman Sachs has upgraded its buyback forecast for 2024, anticipating a total of $925 billion in buybacks for S&P 500 companies, marking a 13% year-over-year increase.
They also took the opportunity to introduce a prediction for 2025: $1.075 trillion in buybacks, thus surpassing the trillion-dollar mark, setting a new historical record, and representing a 16% year-over-year growth. source : GS
There are no longer any companies in the $3 trillion market cap club.
source : bespoke
It has now been over a year since the S&P 500 had a one-day drop of 2%+.
- 3rd longest streak since 2000. - The S&P went 949 trading days (3.76 years!) from 5/19/03 to 2/26/07 without a one-day drop of 2%+. Source: bespoke
Global Equity Funds have seen inflows $84 billion over the last 6 weeks, the highest amount in 2 years
source : deutsche bank, barchart
