Economic malaise deepens in Germany
German private sector falls deeper into contraction, flash PMI shows. German Composite PMI Index dropped to 48.5 in August, a 5mth low, down from prior 49.1 and below the expected 49.2. Manufacturing PMI fell to 42.1 from 43.2, below the consensus estimate of 43.5. On the services side, the PMI also hit a 5mth low of 51.4, compared w/prev reading of 52.5 and analysts forecast of 52.3. The report adds to evidence that Germany's recovery has fizzled out. GDP unexpectedly contracted by 0.1% in Q2, and analysts polled by Bloomberg predict barely any expansion at all over the whole of 2024. Source: Bloomberg, HolgerZ
Here's a look at the 30 best performing S&P 500 stocks over the last 20 years since Alphabet $GOOGL IPO'd
NVIDIA $NVDA is on top followed by Apple $AAPL, Netflix $NFLX and then Monster Beverage $MNST. Alphabet ranks 11th just behind Salesforce $CRM. Source: Bespoke
One Million dollar baby... For the first time in history, a Gold Bar is worth $1 million
Source: Barchart, Bloomberg
"Unprecedented Swing": CTAs To Buy $86BN In Global Stocks This Week, The Most On Record
Source: zerohedge, Goldman
If July is a great month for the Nasdaq, September is not
Source: Bloomberg, zerohedge
$WMT Walmart Q2 FY25 (ending in July):
• Revenue +5% Y/Y to $169.3B ($1.9B beat). • Non-GAAP EPS $0.67 ($0.02 beat). • Walmart US comp sales +4%. • E-commerce +21% Y/Y. • Advertising +26% Y/Y. FY25 Guidance: • Net sales +3.75% to 4.75% Y/Y (0.75% raise). Source: App Economy Insights
Bank of America survey shows continued optimism on Big Techs
Source: Bloomberg
Cathie Wood goes on a dip-buying spree
Source: Bloomberg
