The Schiller P/E has hit 40 for the second time in history since the dotcom bubble.
Source: The Great Martis @great_martis
In case you missed it...
The Russell 2000 has joined the Dow, S&P 500, and Nasdaq 100 in hitting a record high – its first since 2021. That ends the longest drought without a new high in Russell 2000 ETF history. Source: J-C Parets
Yesterday's Russell 2000 heatmap by Finviz
That's a lot of green...
Intel $INTC stock just had its best day since OCTOBER 1987
Nvidia said it will invest $5 billion in Intel as part of a deal to co-develop data center and PC chips with the troubled chipmaker. The Trump administration brokered a 10% stake in the chipmaker in August. The investment, which is subject to regulatory approvals, does not appear to include the manufacturing of Nvidia chips with Intel's foundry. Source. CNBC
Here's how the S&P 500 has performed in the past after the Fed starts cutting rates
Source: Evan @StockMKTNewz
"THE MOST IMPORTANT FOMC OF OUR LIFETIME"
$SPY S&P500 is completely flat
Institutional investors are the most bullish since the February peak in stocks and no longer see a trade war as the biggest risk.
According to Bank of America’s September fund manager survey (covering $426bn AUM), risk appetite is back at its highest since Feb 2025, when the S&P 500 last hit an intermediate peak : The trade war narrative is fading. Optimism is rising. Risk is back on. source : BofA
AI is eating the world
The 109 AI stocks in the Goldman Sachs TMT AI Basket are now worth $29.2tn, almost as much as the annual economic output of the US. Source: HolgerZ, Bloomberg
