Markets are full risk-on since November 9th
The Nasdaq 100 and the S&P 500 have underperformed the equal weighted indices. They got beat up pretty badly by the Russell 2000 and have been left in the dust by Regional Banks and $ARKK (Ark Invest Innovation ETF). Source: Peter Tchir of Academy Securities
The Magnificent 7 have a higher weighting in the MSCI World Index than all of the stocks in the UK, China, France and Japan combined
Source: MSCI AllSpring Global Investments
Quartr just created this infographic that illustrates the 12 largest luxury companies by market cap
Four fun facts: → $LVMH's market cap is 50% larger than the bottom 10 companies *combined*. → $RMS is by far the largest single-brand company on the list, 3.5x the size of $RACE for example. → Despite owning 10+ brands including iconic maisons such as Gucci, Saint Laurent, and Bottega Veneta, $KER's revenue is "only" ~€20B, compared to Hermès' >€13B. → Tiffany & Co. got acquired by LVMH during the pandemic at a $16B valuation, which would place them at #7 on this list. Source: Quartr Activate to view larger image,
Believe it or not...
On December 14, the GDPNow model nowcast of real GDP growth in Q4 2023 is 2.6%.
Goldman Trader: Are $6 Trillion In Money-Market Funds About To Flood The Stock Market
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What a journey for Ireland...
Ireland has experienced unprecedented growth in prosperity in recent years. GDP per capita is now almost $100k, which is more than twice as much as in Germany and three times as much as in Italy. The small country with a population of 5 million has benefited from the large investments made by tech giants, who have settled here b/c of the low tax regime. No other country in Europe has a meaningful budget surplus, can set up 2 sovereign wealth funds, (Future Ireland Fund (FIF) and a smaller Infrastructure, Nature and Climate Fund (INCF) and has a war chest of €2.5bn before 3 important elections. Source: Bloomberg, HolgerZ
Uranium 16-Year High 🚨: Uranium has now surged past $85 per pound for the first time since January 2008
Source: Barchart
The Dow, S&P 500, and Nasdaq 100 ETFs all closed at a new total return high yesterday
Last time that happened: November 5, 2021. $DIA $SPY $QQQ Source. Charlie Bilello
