The market is at the same level as 1960 when adjusted for M2 money supply
Source: Game of Trades
With the exception of Tesla (-25%), the Magnificent 7 stocks are off to a big start in 2024 with Nvidia (+26%) once again leading the way
Source: Charlie Bilello
This is mind-blowing!
$GOOGL $MSFT $AAPL Source: Bespoe
Intel $INTC, is down 10% after-hours after providing weaker than expected guidance in their earnings release
The move lower has erased $20 billion in market cap in just two hours. Intel provided Q1 2024 EPS guidance of $0.13, which is well below expectations of $0.34. They are also guiding Q1 2024 revenue of $12.2B-$13.2B, below expectations of $14.2B. The question becomes if this weakness is an Intel issue or an industry-wide issue. Source: The Kobeissi Letter
Tesla shares plunged 12% in worst trading day since 2020 after automaker warns of slowdown
Note that short interest as a % of equity float is near record low... Source: Bloomberg, HolgerZ
The Buffett Indicator (total value of all publicly-traded stocks/GDP) is near all-time highs and at a significantly higher level than during the Dot Com Bubble and the Global Financial Crisis.
Source: Macro Micro, Charlie Bilello
The Nasdaq 100:
- if you bought at the December 2022 low, you are up 64% - if you bought at the 2021 high. you are up 5%. - if you bought at March 2020 lows, you are up 150% Source: Bespoke, TME
'The Nasdaq 100 valuation has disconnected from real rates.'
Source: The Daily Shot, Win Smart
