All major equity markets outperformed the US in 2025
Source: Goldman
One of the greatest market comebacks in history
On April 8, the S&P 500 was down over 15% on the year, its 4th worst start to a year ever. But after a 38% rally, it's now up 17% on the year, hitting 37 all-time highs along the way. Source: Charlie Bilello
The day the AI bubble implodes, let's keep this in mind
Yes it happened Source: Jeff Weniger
The 'official' Santa Claus Rally begins on December 24
It covers the last 5 trading days of December + the first 2 of January. $SPX was up 77% of the time. The last 2 were negative, but there has never been a third straight down Santa Claus Rally. Source: Subu Trade @SubuTrade
Risk appetite is through the roof.
Stock market investment is at 20+ year highs. Meanwhile, retail asset allocation to stocks is up to ~70%, near the highest in 20 years, according to the AAII survey. This is in-line with the highs seen during the 2021 meme stock frenzy. To put this into perspective, stock allocations were just ~55% during 2020 and fell to ~40% at the 2008 low. At the same time, average stock exposure among investment managers is up to nearly ~100%, one of the highest readings over the last 20 years. This has risen ~65 percentage points since the April low. Source: The Kobeissi Letter, Bloomberg
Today is the largest options expiration in history...
Goldman's options guru John Marshall estimates that this December options expiration will be the largest ever with over $7.1 trillion of notional options exposure expiring, including $5.0 trillion of SPX options and $880 billion notional of single stock options. Source: zerohedge
🚨 BREAKING: Oracle just became the backbone of TikTok U.S.
$ORCL 🟢 +6.4% after hours. Source: Trend Spider
BREAKING 🚨: Oracle
$ORCL has now plunged 48% since its all-time high on September 10, a total market cap loss of $475 Billion 📉📉 Note that the stock is UP 6% after-markets on TikTok deal + OpenAI securing $100B in funding from UAE sovereign wealth fund. Source: Barchart @Barchart
