⚠️Despite US stocks outperformance in May, this is one of the WORST years for the US stock market in history:
The S&P 500 has UNDERPERFORMED World stocks excluding the US by 12 percentage points year-to-date, the most in 32 YEARS. Source: Bloomberg, Global Markets Investor
Europe stocks stage world-beating rally as trade war backfires.
8 of the world's 10 best-performing stock markets are in Europe this year, w/Germany's Dax rallying >30% in Dollar terms: Peripheral markets such as Slovenia, Poland, Greece, and Hungary also performing well. Source: HolgerZ, Bloomberg
Goldman: Hedge funds net bought US Info Tech stocks for a 3rd straight week and every day this week, driven by risk-on flows with long buys outpacing short sales (1.6 to 1)
It’s worth nothing that (1) the recent streak of buying in US Info Tech came after the sector was net sold in 10 of the previous 12 weeks, and (2) this week’s notional long buying in the sector was the largest in more than 10 years (+1.6 z score), pointing to a positive turn in sentiment. Source: Goldman, Neil Sethi @neilksethi
🚨Retail investors have bought every dip this year
The S&P 500 has returned 0.36% on average following a down day, the most ever recorded. By comparison, last year it was just 0.02%. Retail investors purchased over $50 billion in US equities since the April low. Source: Yahoo Finance, Global Markets Investor
Hermès just surpassed LVMH to become the world's largest luxury company.
"We're about craft, we're not machines" Source: Finchat
LVMH is now down 46.6% from all-time highs.
That's the company's largest drawdown in more than 15 years. $LVMH Source: Finchat
Post-election years tend to be weak early, then bottom in early April. ✔
Then they tend to rally hard in late April and May. ✔ Is this year really that abnormal? Especially when coming off back-to-back 20% gains? Maybe not Source: Carson, Ryan Detrick
Nvidia $NVDA stock is up almost 4% in after hours after beating EPS and Revenue expectations
Source: Barchart
