Yesterday was a big ROTATION day on US equities market with small-caps hugely outperforming large-caps
Indeed, small-cap Russell 2,000 gained 3%+ while the S&P 500 fell on the day. The only other day that happened was back on 10/10/2008... Investors probaby have these 2 charts in mind: 1) The HUGE underperformance of small caps vs large aps over the recent years; 2) History showing that Small caps outperform AFTER the first rate cut. The lower than expected US CPI iunflation number for June acted as a trigger for the rotation with hedge funds being forced to cover their long large / short small par trades. Source: Bloomberg, DB, RBC
The US equities market explained in one image
Source: Trend Spider
Modi's budget could send India stocks soaring higher
Source: Blomberg
BREAKING: Walgreens stock, $WBA, crashes nearly 25% after drugstore chain cuts profit guidance due to "challenging" consumer environment.
"We assumed the consumer would get somewhat stronger” but “that is not the case,” Walgreens CEO said. Walgreens cut their earnings per share outlook by 12.5% yesterday. The stock is now down 88% from its all time high and 55% in 2024. Another sign that consumers are struggling? Source: The Kobeissi Letter
US equity markets have never been more expensive than the rest of the world on a price to book basis.
Source: Tavi Costa, Bloomberg
Visualizing the incredible surge in tech stocks 📊
Markets & Mayhem 🤖
US equity markets have never been more expensive than the rest of the world on a price to book basis.
Source: Tavi Costa, Bloomberg
A century of investing
Source: Mario Gabelli on X, BofA
