This is from where Trump 2.0 is starting...
US stocks now make up 65% of the global equity market, their highest weighting in history. This is more than 11x bigger than the second largest country by market cap (Japan at 5.6%). With his MAGA, can US weight % of the global equity market hit even higher level??? Source chart: Charlie Bilello
The fourth quarter earnings season is longer than the others because companies need to complete their year-end numbers and get signed off on by the auditors.
Therefore, only half of those S&P 500 $SPY companies expected to report in February have scheduled earnings yet, so look for those right bars to get bigger. That said, we have a pretty good look at the next few weeks. This week will still be mostly about the Financials $XLF, but we’ll begin to get Industrials $XLI reporting too. source : earningswhisper
$NVDA: The Driving Force Behind the S&P 500’s 2024 Rally
NVIDIA’s incredible 170% gain in 2024 has played a pivotal role in the market’s performance, contributing to over 20% of the S&P 500’s return. source : BofA, Mike Zaccardi, CFA, CMT, MBA
The trend is your friend...
The Nasdaq 100 has closed above its 200-day moving average for 466 consecutive trading days, the 2nd longest uptrend in history. $NDX Source: Charlie Biello
History has been made again in stocks:
Over 68% of the S&P 500 stocks have closed higher for 5 consecutive days, matching all previous records since 1928. If the same occurrence happens on Tuesday, it will mark a new record streak. In other words, the market's breadth has significantly improved. The last 2 times when such a streak occurred were in January and June 2019 which resulted in more upside in stocks. A similar trend was seen in September 2009 which resulted in the S&P 500 rallying 8% in the subsequent 3 months. Can bulls capitalize on this momentum? Source: The Kobeissi Letter
The Market Cap of the largest 50 stocks relative to GDP is at 110%, the highest level in history, surpassing the peak of the Dot Com Bubble and the Global Financial Crisis...
Source: Barchart
Apple $AAPL stock just closed the day down by 4% its worst day since August 5th
Source: Blossom on X
Over a third of the S&P 500 is now concentrated in the "Magnificent Seven" stocks, up from a fifth of the index two years ago.
Source: Charlie Bilello
