There is bearish divergence spotted between the market (SP500) and % of stocks above their 200-day MA
The last occurrence led to significant downside for equities. Source: Game of Trades
China asks some Funds to avoid net equity sales as Markets sink
Chinese authorities asked some investment funds this week to avoid being net sellers of equities, as a rout in the nation’s financial markets deepened. Stock exchanges issued the so-called window guidance to several large mutual fund houses, telling them to refrain for a day from selling more onshore shares.
The AI-hype has driven some stocks valuations to extreme levels
The most emblematic one among large-caps is Nvidia with a P/E ratio which went from under 50x to 224x in just 8 months. Source: Game of Trades
US stock market current mood in one picture
Source: Heisenberg - Mr_Derivatives
BofA’s private clients have been dumping growth stocks while loading on Japan equities
Source: The Daily Shot, BofA
The power of compounding: What a difference 2% make!
Source: Michel A.Arouet, BofA
With “risk free” rates above 5%, the typically low-growth, high-dividend payers in the sp500 are massively underperforming in 2023
The 101 non-dividend payers are up 20.4% YTD, while the 100 highest yielders in the index are down an average of 3.5% on a total return basis. Source: Bespoke
According to Morgan Stanley research last year. $AAPL has an estimated 860 million subscriptions sold
If this is correct, Apple could raise the monthly price by $1 per month on these subscriptions and generate an incremental $10 billion per year in revenue. Apple has set themselves up with a simple pricing lever that can generate incremental high-margin returns for years ahead. Source: Morgan Stanley, Joseph Carlson
