Friday's market action tells a lot about what's currently going on
1) US large-caps equities index recorded strong gains ($SPX +1.07%; $NDX +1.69%) thanks to huge advance by $META (+20%) and $AMZN (+7%); 2) Underneath the surface, there is some selling taking place - the S&P 500 equally weight is DOWN -0.08% on the day. We need to see decent market breath for the equity bull market extend as the mag7 (or rather the "mag 4" as leadership is even more narrow than in 2023) will not be able to carry the market forward for ever... Source: Bloomberg
Chinese stocks
Source: Ayesha Tariq, CFA
sp500 companies excluding magnificent seven.
Source: Daniel Lacalle
During the election year, the averages tell us that it's going to be sideways to lower for the next 2 months...
Source: Grant Hawkridge
European stocks are currently trading at their lowest valuation relative to U.S. Stocks in history
Source: Win Smart, IBES
Equities have left central bank balance-sheet behind...
Source: UBS, TME
The weight of the 10 largest sp500 stocks is now 33.1% of the total $SPX, the highest level in almost 5 decades.
Source: Barchart
The week is THE week of BIG TECH earnings and it is time for a reality check: NVDA is the only Magnificent 7 stock seeing an increase in earnings revisions.
The company is almost the sole beneficiary of the recent AI advancements, contrasting sharply with others that have only experienced hype without any fundamental improvement. Is the Mag7 acronym already blowing out? Source: Bloomberg, Tavi Costa
