Momentum coming back to life:
"The GS High Beta Momentum Pair (GSPRHIMO) is up 9.3%, marking its strongest one day rally in the last five years following a 33% drawdown in the factor. Our sector specific TMT Unconstrained Momentum Pair (GSTMTMOM) is also posting its best day on record (+11.5%) and the GS Broad AI Pair (GSPUARTI) is up 7.3%, its best day since the launch of ChatGPT." - GS Source: Negligible capital
After gaining nearly 11% this year, the S&P 500 paused this week, slipping more than 1%.
But beneath the headline move, a broader rotation is underway, both across sectors and within them. Since early June, AI-driven sectors such as Technology have lost momentum, while cyclical and defensive sectors have steadily outperformed. The shift extends well beyond this week's pullback, suggesting investors are broadening exposure rather than simply reducing overall market risk. Source: Edward Jones
SpaceX $SPCX short sellers have now built a position equal to roughly one third of the company's public float, worth about $25 Billion
Source: Barchart
BIGGER THAN GOLD: WHEN INNOVATION OUTVALUES THE WORLD’S MOST HISTORIC STORE OF WEALTH
Source: Investorsight
Massive sell-off in Asian Markets this morning (and Korea market was closed)
Over $970 billion has been wiped out from Asian stock markets today. 🇯🇵 Japan: $350B erased (51 trillion yen) 🇨🇳 China: $360B erased (¥2.6 trillion yuan) 🇭🇰 Hong Kong: $110B erased (HK$860 billion) 🇹🇼 Taiwan: $140B erased (NT$4.1 trillion) 🇦🇺 Australia: $10B erased (A$15 billion) Nearly $1 trillion has been wiped out across Asia in a single trading session. Source: Crypto Rover
SPACEX HAS JUST CALLED OFF IT’S MAJOR TEST MISSION OF STARSHIP ROCKET AT THE LAST MOMENT
$SPCX Source: Gurgavin on X
Semiconductor Stocks
Semis have entered a technical correction and are on the verge of a bear market after falling 16% from June's all-time high Source: Barchart
Total Margin Debt has increased by more than 40% over the last 12 months
A level only seen at prior market tops, including the Dot Com Bubble and the Global Financial Crisis Source: Barchart, CNBC
