To put things into perspective:
Chip specialist Broadcom has added $324bn to its market value in just 2 days—exceeding the entire market value of Germany's largest company, SAP, which is worth $310bn. Source: HolgerZ, Bloomberg
This is crazy: 11 consecutive days of more decliners than advancers in the S&P500.
First time since Sept 11, 2001 Source: zerohedge
BREAKING 🚨: Japan
Japanese Stocks $EWJ formed a Death Cross for the first time since December 2021 ☠️ The last one saw stocks enter a bear market with a plunge of more than 30%. Source: Barchart
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 5.5%). Source; Charlie Bilello
🚨 The S&P 500 P/E Ratios Heat Map.
What do you notice? $SPY Source: Jesse Cohen @JesseCohenInv
European Stocks trading at an all-time record discount relative to US Stocks
Source: Barchart, Blackrock
🚨Only 32% of the S&P 500 firms have outperformed the index year-to-date after 29% in 2023, one of the lowest readings on record.
In other words, 32% of companies gained more than 27% this year. In the past, this happened only once, in the 1998-1999 Dot-Com Bubble. Source: Global Markets Investor
BREAKING: Corporate executives are now selling their stock at record levels, with the ratio of sellers to buyers hitting 6x.
Why are insiders cashing out? Source. The Kobeissi Letter, FT
