BREAKING: There are now a record 299,000 new homes for sale in the Southern US states, according to Reventure.
This is even higher than in 2006, a year before the housing market crash began. The number of new houses for sale in the South has nearly DOUBLED in just 4 years. Meanwhile, new home sales have officially dropped below pre-pandemic levels for the first time. It would take ~9 months current new inventory to sell if it sold at the current pace without new inventory coming to the market, 2nd longest duration since 2009. Source: The Kobeissi Letter, Reventure
The S&P 500 is up 16.9% in 2024, the 13th best start to a year going back to 1928 and the best start to a presidential election year in history.
$SPX Source: Charlie Bilello
Apple $AAPL just closed trading today with a $3.506 TRILLION market cap
This is the first time any stock has ever closed a day worth more than $3.5 Trillion Source: Evan
BREAKING 🚨 $AAPL is the most valuable company in the world once again Stock is up…
▪ 7.4% in a week ▪ 16.5% in a month ▪ 34.7% in 3 months Source: Stocktwits
S&P500 concentration at the highest level in at least 60 years: 5 largest stocks within S&P 500 = 28.99%
As mentioned by Jim Bianco: The risk of the current S&P500 concentration is that one day the opposite happens: five stocks could kill the index funds while everything else outperforms... "Restated, one buys an index fund to get diversification. But with record concentration, they are not getting it". Source: Bianco Research
A remainder that US small caps have been lagging meaningfully during the current bull market
Source: MicrocapClub
All it took was a little rebranding. $META
Source: Trend Spider
The star of the show this week and it's not even close.
Highest one-week return since January and now green on the year. $TSLA Source: Trend Spider
