Current state of affairs 🍿Markets situation yesterday summarized in one image courtesy of Trend Spider.
Tesla was a big laggard in the session, down more than 14%, after President Donald Trump said he was “very disappointed” in CEO Elon Musk. Musk shot back at President Donald Trump, saying in a post on X that “without me, Trump would have lost the election.” The feud further intensified after Trump called Musk ”‘CRAZY” and signaled that he might cut his companies’ government contracts.
The Trump-Elon meltdown: the breakup between the world’s most powerful politician and the world’s richest man is playing out in a manner befitting an era of hyperreality:
With stunning speed, wild recriminations, and in public via television and their own social media platforms. Tesla shares plunged 14%, comp lost $153bn in mkt cap, now worth less than $1tn. Source: HolgerZ, Bloomberg
After a 24% rally from the April lows, the S&P 500 is now up 5% since the "Liberation Day" tariff announcement.
$SPX Source: Charlie Bilello
Yesterday, Nvidia $NVDA became the world's most valuable company at $3.444 Trillion, surpassing Microsoft $MSFT
Source: Companies Market Cap
In case you missed it... The MSCI All Country World Index (iShares MSCI ACWI ETF) hit an ALL-TIME HIGH yesterday...
#taco #tuesday Source: Mike Zaccardi, CFA, CMT, MBA
Credit Card debt at all-time highs? Party on.
#visa #mastercard $V $MA Source: Trendspider
European markets have outperformed the US this year.
Poland, the Czech Republic, and Austria have grown their market capitalization by 44%, 36%, and 33%, respectively. Next are Hungary, Spain, Luxembourg, Greece, and Germany. The US has been flat. Source: Global Markets Investor
Systematic US equity exposure remains low, according to data from Goldman Sachs, i,.e they will be forced buyers if the rally continues 🚀
Source: Markets & Mayhem @Mayhem4Markets on X, Goldman Sachs
