Global stocks have gained $1.8tn in market cap during the 1st week of trading of the year
As the 1st week goes so goes the year? Global stocks have gained $1.8tn in market cap last week on Goldilock-ish econ data from the US – consisting of a resilient labor market set against eroding business sentiment across the economy. Source: Bloomberg, HolgerZ
Two consecutive years of negative returns for the S&P 500 are very rare
Optimism makes comeback on Wall St. Ed Yardeni is putting soft landing odds at 60% based on strong data, resilient consumers & signs of tumbling price pressures. Consecutive down years are very rare for S&P 500, having taken place on just 4 occasions since 1928. Source: Bloomberg, HolgerZ
Are we just at the start of a new Value outperformance cycle?
MSCI Growth vs. Value. In dark blue periods of growth outperformance. Source: Gianluca at MenthorQ Pro
The S&P 500 4-year Presidential cycle
The 3rd year (pre-election) is historically the best one. The trend is more important than the level. Source: Thomas Callum, All-Star-Charts
The Nasdaq index and the US 30-year bond yield (inverted)
Every move on the Nasdaq is dictated by US Interest rates. Source: Jeff Weniger
US equities: New highs > new lows last week for first time since August and only 3rd time since Nov 2021.
NYSE + Nasdaq New highs & lows (as a % of issues traded) Willie Delwiche, All Star Charts Plus
Nasdaq 100 year-on-year returns have been in the red for an unusually long period of time
Investors aren't used seeing red anymore... Source: Compounding Quality
FAANGs continue to lay off employees
Source: Wall Street Journal, Wall Street Silver
