US equities are shrugging off higher rates.
The chart below shows the level of the S&P 500 Index and the 2-year U.S. Treasury yield. Yields have risen in 2024 but unlike prior episodes of rising yields last year, the S&P 500 has moved higher as well. Past performance does not guarantee future results. Source: Edward Jones
While markets are hitting all-time-highs, some insiders are off-loading their stocks
Source: Genevieve Roch-Decter, CFA
Yesterday was one of the most distorted markets we've seen yet. Just 2% of the index contributed over 60% of the bullish momentum.
That means ONLY TEN companies were the cause of well over half of the move in $SPX yesterday. $NVDA single handedly contributed an additional 50bps to the return in $SPX. Source: Hedgeye
Market Breadth continues to look strong!
More than 72% of sp500 stocks are now trading above their 200D moving average. Source: Barchart
U.S. equity risk premium has fallen to its lowest level since the aftermath of the Dot Com Bubble.
This is the premium that investors receive to compensate them for taking on additional risk in the stock market instead of treasuries. Source: Barchart, BofA
Reddit made its IPO filing public ahead of a planned stock market debut in March.
It also disclosed $90.8 million in losses and revenue growth of roughly 21% in 2023. REDDIT IPO STATS: Ticker: $RDDT Exchange: NYSE Deal size: $100m (we est. $750m) Mkt Cap: Est. ~$5+ billion Annual Sales: $804m Net Loss: -$91m IPO Timing: Est. mid-March
S&P, NASDAQ 100 & DJIA closed at RECORD HIGH
Source: Bloomberg
The chart is a log graph of $1 invested in the S&P 500 in the year 1950 by Personal Finance Club.
They listed all of the market crashes that were 15% or more. They removed the Y-axis, but it shows $1 growing to over $1,000! Note that there were many -10% corrections over the period but that only -15% and worse are listed below
