BREAKING: S&P 500 buybacks jumped 35% in Q2 2024 to $236 billion, near the all-time record.
Furthermore, a massive 52% of stock repurchases were conducted by the index's top 20 firms. This compares to a long-term average of 48% and pre-pandemic average of 45%. Apple, $AAPL, Alphabet, $GOOGL, Meta, $META, and Nvidia, $NVDA ALONE back $63 billion of stock. The Information Technology sector saw $68 billion of repurchases while Financials and Communication Services saw $45 billion and $35 billion, respectively. Buybacks are fueling the stock market rally. Source: The Kobeissi Letter
No one can predict the future so just S&P 500 and chill...
Source: Dividend Talks on YouTube
BofA: With the S&P 500 up ~50% over the last two years, history suggests more modest index gains going forward.
Returns were most frequently in the 0-10% range following periods where the index was up 40-50% over a two-year period Source: Mike Zaccardi, CFA, CMT, MBA
Strong seasonal pattern kicking off today through the second trading day of the New Year…
Source: Bloomberg
SPDR ETFs and their YTD Performance
🥇 Financials $XLF +44.28% 🥈 Communication Services $XLC +37.19% 🥉 Gold Trust $GLD +34.37% Source: Trend Spider
S&P500 earnings estimates for 2025 have rolled over and declined over the last few weeks.
At the same time, the S&P 500 continued to rise making valuations even more stretched (expensive). Will earnings estimates catch up or stocks fall? Source: Global Markets Investor
Here's the outperformance (vs. S&P 500) of a pure play Trump index created by Alpine Macro.
It owns DJTA, Bitcoin, Tesla and GEO equally-weighted
The S&P 500 ETF, $SPY, just saw 9 consecutive days of money inflows, the longest streak since 2014.
Investors have poured $18 billion into $SPY over these 9 days as post-election buying continues. Since 2000, $SPY has only seen 4 streaks with 9 to 10 straight days of inflows: in 2007, 2013, 2014, and 2016. Massive inflows supported the 5%+ run in the S&P 500 following the election. Over the last 13 months, the S&P 500 has now added more than $15 TRILLION of market cap. Source: The Kobeissi Letter, Goldman Sachs
