Yesterday was a big ROTATION day on US equities market with small-caps hugely outperforming large-caps
Indeed, small-cap Russell 2,000 gained 3%+ while the S&P 500 fell on the day. The only other day that happened was back on 10/10/2008... Investors probaby have these 2 charts in mind: 1) The HUGE underperformance of small caps vs large aps over the recent years; 2) History showing that Small caps outperform AFTER the first rate cut. The lower than expected US CPI iunflation number for June acted as a trigger for the rotation with hedge funds being forced to cover their long large / short small par trades. Source: Bloomberg, DB, RBC
US manufacturing mega-boom in 2 images
Source: Science is Strategic, The Economist
US supercore CPI is negative MoM for the 2nd month in a row
zerohedge.com, Bloomberg
US CPI estimates by firm
TD Securities: 3.0% JP Morgan: 3.1% Wells Fargo: 3.1% Citadel: 3.1% Barclays: 3.1% CitiGroup: 3.1% Goldman Sachs: 3.2% Bank of America: 3.2% Morgan Stanley: 3.5% Previous: 3.3% Median: 3.1% Source: TrendSpider
There is low volatility across asset classes.
Can it last? Source: Nautilus Research
Big Tech is eating the world with Apple once again the undisputed Number 1.
Apple gained 2% after bullish Bloomberg report about the upcoming AI-enabled iPhone sales prospects. Apple is now worth almost $3.6tn in market cap, Microsoft is number 2 with $3.5tn ahead of Nvidia with $3.3tn. Source: HolgerZ, Bloomberg
🚨 JUST IN: A bipartisan group of Senators announce proposal that would prevent lawmakers from buying stocks and prevent spouses and dependent children from trading stocks beginning in March 2027.
Source: Barchart
A storytelling chart about Europe
thru Michael A. Arouet, FT
