The sp500 yesterday
Source: Brew markets
$VIX seasonality last 20 years.
If we are to see a spike, should be any day now. Just simply basing off seasonality. Source: Heisenberg @Mr_Derivatives
Party like it's 1999! Goldman posts best stock-trading quarter in Wall Street History
At $4.3bn, equity-trading revenue for Q2 was about $600mln more than what analysts were expecting and $100mln above Q1. Source: HolgerZ, Bloomberg
Nvidia is 3% of global market cap. The other 82,292 stocks (Bloomberg-tracked primary listings) make up the other 97%.
Source: David Ingles, Bloomberg
⚠️ JPMorgan Chase on Tuesday topped analysts’ estimates on better-than-expected revenue from fixed income trading and investment banking.
▶️ The bank said that second-quarter earnings fell 17% to $14.9 billion, or $5.24 a share, from the year-earlier period, when it had a $7.9 billion gain on Visa shares. But even when backing out a $774 million income tax benefit that boosted per share earnings by 28 cents, JPMorgan topped estimates for the quarter. 🔴 $JPM JPMorganChase Q2 FY25. • Net revenue -11% Y/Y to $44.9B ($1.7B beat). • Net Income -17% Y/Y to $15.0B. • EPS: $4.96 ($0.48 beat). • FY25 NII ~$95.5B ($1.0B raise). Source: App Economy Insights, CNBC
The Q2 2025 earnings season begins this week, with analysts forecasting modest S&P 500 EPS growth of 4.8%, the lowest rate since Q4 2023.
Early reports have already painted a mixed picture, showing strong AI and travel demand ( $MU, $DAL ) but softness in consumer goods and shipping ( $NKE, $FDX). The spotlight is now on the big banks, with $JPM, $C, $WFC, and others reporting Tuesday and Wednesday. In their reports, we'll be watching for commentary on three key themes: credit quality, a potential recovery in investment banking, and the expected plateau in net interest income. Source: Wall Street Horizon
TRADE DESK IS JOINING THE S&P 500
Trade Desk $TTD will replace ANSYS in the S&P 500 before the markets open on July 18th.
The electrification theme in 4 charts
Platinum, palladium, copper, uranium. Four key metals in the electrification of everything. As highlighted by @DimitryFarberov on X, their quarterly charts are starting to come alive. • Copper just broke out of a 15+ year base • Platinum finally cleared its downtrend • Palladium trying to bottom at major support • Uranium still in its handle, consolidating after a huge move Different charts, same theme.
