Market Is Punishing Negative EPS Surprises More Than Average for Q2
Source: Factset, Mike Z.
This chart suggests that liquidity from the yen carrytrade has flowed into the Mag7
Source: Bloomberg, HolgerZ
Berkshire Hathaway is now holding 25% of their Assets in Cash, the highest % since 2004.
Historical average cash position: 14%. $BRK.B Source: Charlie Bilello
Interesting to see how the psychology of the market has been changing lately.
A few weeks ago, strong job reports had a negative effect on stocks. Now it is the other way round. Initial jobless claims reversed their uptrend and stocks seem quite happy with this. Why? Because there is actually a "growth" fear (instead of an "inflation" fear) which means that any decent economic report will be welcome by the market (and any bad one could push stocks lower).
JPMorgan: 75% Of Global Carry Trades Have Been Unwound
(yesterday they said that the unwinding was only half completed...) Source: www.zerohedge.com
The last 10 minutes of trading on Wall Street today...
Source. Markets & Mayhem
In case you missed it...
Crude Oil has fallen to its lowest price since early February. Source: Barchart
Yesterday evening after the close, Super Micro $SMCI has swung nearly $170 in 40 minutes in after hours trading, dropping from $725 to $558.
Super Micro Computer beats on revenues + announced 10:1 stock split (why?) but missed on EPS. CEO: "Supermicro continues to experience record demand of new AI infrastructure..." Source: Ycharts, Beth Kindig
