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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 26 Jul 2024 - - - #### That was an enormous miss in durable goods, coming in at -6.6% vs a forecast of +0.3%. We need to transport things in a growing economy, right? "Transportation equipment, down two of the last three months, drove the decrease, $19.6 billion or 20.5 percent to $75.8 billion. Source: Markets & Mayhem [#markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) ![That was an enormous miss in durable goods, coming in at -6.6% vs a forecast of +0.3%.](https://blog.syzgroup.com/hubfs/1721943426658.jpg) ![That was an enormous miss in durable goods, coming in at -6.6% vs a forecast of +0.3%.](https://blog.syzgroup.com/hubfs/1721943426658.jpg) 26 Jul 2024 - - - #### Nasdaq has underperformed Russell 2000 for 11 of the last 12 days, erasing YTD outperformance for the big-tech index Source: Bloomberg, www.zerohedge.com [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Nasdaq has underperformed Russell 2000 for 11 of the last 12 days, erasing YTD outperformance for the big-tech index](https://blog.syzgroup.com/hubfs/1721943171932.jpg) ![Nasdaq has underperformed Russell 2000 for 11 of the last 12 days, erasing YTD outperformance for the big-tech index](https://blog.syzgroup.com/hubfs/1721943171932.jpg) 25 Jul 2024 - - - #### The Magnificent 7 dropped by more than $750 Billion yesterday Source: Evan, Yahoo Finance [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) ![The Magnificent 7 dropped by more than $750 Billion yesterday](https://blog.syzgroup.com/hubfs/1721886887636.jpg) ![The Magnificent 7 dropped by more than $750 Billion yesterday](https://blog.syzgroup.com/hubfs/1721886887636.jpg) 25 Jul 2024 - - - #### The S&P 500 yesterday ended a streak of 356 trading days going back to February 2023 without experiencing a one-day drop of 2% or more. This was the longest streak since we went 949 trading days from May 2003-February 2007 without one! Source: Bespoke [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![The S&P 500 yesterday ended a streak of 356 trading days going back to February 2023 without experiencing a one-day drop of 2% or more.](https://blog.syzgroup.com/hubfs/1721855812560-2.jpg) ![The S&P 500 yesterday ended a streak of 356 trading days going back to February 2023 without experiencing a one-day drop of 2% or more.](https://blog.syzgroup.com/hubfs/1721855812560-2.jpg) 24 Jul 2024 - - - #### Tesla reports disappointing earnings for second quarter as revenue rises 2% Tesla reported weaker-than-expected earnings for the second quarter as automotive sales dropped for a second straight period. The stock slid more than 2% in extended trading. $TSLA Tesla Q2 FY24 by App Economy Insights: • Revenue +2% Y/Y to $25.5B ($0.8B beat). • Gross margin 18% (-0.2pp Y/Y). • Operating margin 6% (-3pp Y/Y). • Capex +10% Y/Y to $2.3B. • Free cash flow +34% Y/Y to $1.3B. • Non-GAAP EPS $0.52 ($0.10 miss). [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) ![Tesla reports disappointing earnings for second quarter as revenue rises 2%](https://blog.syzgroup.com/hubfs/1721767625314.jpg) ![Tesla reports disappointing earnings for second quarter as revenue rises 2%](https://blog.syzgroup.com/hubfs/1721767625314.jpg) 24 Jul 2024 - - - #### The current US small caps rally seems to be mainly driven near-record exuberance in Russell 2000 ETF $IWM call options activity (chart on the right) rather than inflows into small caps funds (chart on the left). Source: BofA, UBS [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![The current US small caps rally seems to be mainly driven near-record exuberance in Russell 2000 ETF $IWM call options activity](https://blog.syzgroup.com/hubfs/1721715878795.jpg) ![The current US small caps rally seems to be mainly driven near-record exuberance in Russell 2000 ETF $IWM call options activity](https://blog.syzgroup.com/hubfs/1721715878795.jpg) 24 Jul 2024 - - - #### Selling scarcity as illustrated by Quartr. Visualizing the insane retail vs. resale price contrast of Patek Philippe's limited Tiffany (a part of LVMH) blue-colored timepiece. "You never actually own a Patek Philippe. You merely look after it for the next generation." [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) ![Selling scarcity as illustrated by Quartr.](https://blog.syzgroup.com/hubfs/1721716543753.jpg) ![Selling scarcity as illustrated by Quartr.](https://blog.syzgroup.com/hubfs/1721716543753.jpg) 23 Jul 2024 - - - #### $SPY The bull's first line of defense holds strong. 💪 Source: Trend Spider [#markets|](https://blog.syzgroup.com/syz-the-moment/tag/markets) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![$SPY The bull's first line of defense holds strong. 💪](https://blog.syzgroup.com/hubfs/1721714111099.jpg) ![$SPY The bull's first line of defense holds strong. 💪](https://blog.syzgroup.com/hubfs/1721714111099.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/106) [105](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/105) [106](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/106) [107](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/107) [108](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/108) [109](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/109) [❯](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/108) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/markets/page/146?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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