The US Government is reportedly seeking to buy up to a 10% equity stake in Lithium Americas $LAC
+73% after-hours (CNBC) Source: Reuters
Saudi Arabia’s stocks soar after reports that foreign ownership limits will be axed ‼️
The Capital Market Authority (CMA) is moving toward allowing foreigners to own majority stakes in local companies, Bloomberg reported. The Authority is close to approving a major amendment to raise the cap on foreign ownership in listed companies, which currently stands at 49%, the agency quoted CMA board member Abdulaziz Abdulmohsen bin Hassan as saying. He highlighted that the regulator is almost ready for this step and is awaiting approval from the relevant government entities. “It is prepared to move forward,” said the official, without specifying the final ownership cap that will be permitted for foreigners, expecting the decision to come into effect before the end of this year. Allowing foreign ownership to exceed 50% of capital in listed companies will increase the relative weights of Saudi stocks in MSCI indices, which could attract significant capital inflows, as these indices reduce the weight of companies that impose foreign ownership restrictions. Source: Argaam, Reuters
All the Magnificent 7 stocks are now in positive territory for the year!
Source: Bloomberg, HolgerZ
S&P 500 priced in gold...this is what the stock market looks like in real money (looks like a big head and shoulders pattern...)
As highlighted by Quoth the Raven on X, "If we go back to 0.5x, that puts gold at $12,000, or the S&P at 1850 or they meet in middle at $9000/4500 which would be gold 2.5x and S&P -30%ish"
Stocks just saw the largest weekly inflow all year from retail investors
Source: Barchart
Foreigners own more US stocks than EVER
Overseas investors now own a RECORD 18% of the US equity market. Foreign investors collectively own ~$20 trillion of US stocks and ~$14 trillion in US debt, including Treasuries, mortgage and corporate bonds, according to Bloomberg. Source: Global Markets Investor, DB, Haver analytics
Warren Buffett and Berkshire Hathaway $BRK.B no longer own any shares of BYD - CNBC
Source: Evan
The Fed has cut rates by 25bps 47 times since 2000
Here’s how $SPY usually reacted the next week, month, quarter, and year. Source: Trend Spider
