The gap between the Magnificent 7 and the S&P 493 (remaining 493 companies) is now 63%
This year, the Magnificent7 is up a massive 75% while the remaining 493 companies are up just 12%. Combined, the S&P 500 is up ~25%, more than doubling the S&P 493's total return. In other words, the Magnificent 7 is up 3 TIMES as much as the S&P 500 and ~6 TIMES as much as the S&P 493. Just 7 weeks ago, the S&P 493 was DOWN 2% this year. Source: The Kobeissi Letter
Long-Dated Treasuries have officially entered a bull market after $TLT surged higher by more than 20% from the 16-year low it hit on October 23
Source: Barchart
Bottom? Will the Turmoil In Used Rolex and Patek Market End After Fed's Pivot?
Extract from a zerohedge article: The secondary market for pre-owned Rolex and Patek Philippe watches has been spiraling down since peaking in early 2022, mainly because the Federal Reserve ended helicopter-dropping trillions of dollars in stimulus checks and was forced to begin the most aggressive interest rate hiking cycle in a generation to curb inflation. Now, the Fed's bizarre, unexpected pivot this week has spurred hope that a bottom nears for the luxury watch market. Bloomberg spoke with Christy Davis, a co-founder of Subdial, a UK-based secondary watch market dealer and trading platform, who believes the turmoil in the secondary luxury watch market is ending. "As we look toward 2024, the potential for a soft landing of stable and eventually declining rates is reason for optimism in the watch market," Davis said. Source: www.zerohedge.com
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
BREAKING: an ATH for the Dow > 37k !
The Dow Jones rose to its highest level ever following latest Fed meeting—which left rates unchanged & predicted 3 possible cuts in the coming year—as cheer continues to flood equities markets at year’s end. Breaking its prior ATH of nearly 37,000 set in January 2022 Dow rose >37k. Source: Bloomberg
BREAKING >>> bitcoin prices just fell over 5% in a matter of minutes, hitting as low as $41,500
After its eight straight green week, Bitcoin is finally taking a breather. The decline comes at a time of low volume and liquidity. Source: Kobeissi Letter
Bloomberg Commodity Index drops to 2-year low as investors grow increasingly nervous about demand
Source: HolgerZ, Bloomberg
