The S&P 500 Technology sector is now trading below last year’s tariff-selloff lows.
As a result, Tech trades at a 21% discount to its 5-year average P/E ratio and 10% below its 10-year average, making it the most discounted sector in the S&P 500. Source: Duality Research @DualityResearch
Traders Turn Positive on US dollar for First Time This Year
Source: Bloomberg
BREAKING: President Trump asks Jerome Powell to LOWER INTEREST RATES IMMEDIATELY to save the economy.
"He should be dropping interest rates IMMEDIATELY," Source: Bull Theory @BullTheoryio
U.S. Presidents on Fiscal Responsibility
“The Federal Government cannot continue to spend more money than it takes in.” – Jimmy Carter (1978) “For decades we have piled deficit upon deficit, mortgaging our future and our children's future.” – Ronald Reagan (1981) “We must bring the Federal budget deficit under control.” – George H.W. Bush (1989) “We must put our fiscal house in order.” – Bill Clinton (1993) “We can pay down a large portion of the national debt.” – George W. Bush (2001) “Families across the country are tightening their belts … the federal government should do the same.” – Barack Obama (2010) “We will start to balance our budget and pay down our debt.” – Donald Trump (2016) “My plan will reduce the deficit.” – Joe Biden (2022) “We will balance the federal budget.” – Donald Trump (2024) Charlie Bilello
BREAKING: President Trump says the "war is very complete" in Iran, and that Trump is considering "TAKING OVER" the Strait of Hormuz to accelerate oil tankers passing through
Source: Nick Sortor @nicksortor
Some thoughts on yesterday's evening White House Alert
Despite promises of escalation “20× harder,” the military campaign against Iran has already been intense, with 3,000 targets struck, most air defenses degraded, and dozens of warships sunk. Further escalation would likely target civilian infrastructure. However, this would not reopen the Strait of Hormuz, whose closure stems from insurance withdrawals under Solvency II. Shipping remains constrained until insurers’ risk models normalize, regardless of military outcomes. Source: Shanaka Anslem Perera on X
Yes, stocks in the US have been choppy so far this year
But looking at a four-year Presidential cycle, this is actually quite common for mid-term years.” Source: Daily Chartbook @dailychartbook
US Wholesale Inflation Surges in December
US wholesale inflation rose sharply in December as the producer price index (PPI) jumped 0.5% month-over-month, exceeding expectations, driven by higher service costs. Core PPI also accelerated, climbing 0.8% MoM and 3.6% YoY, well above forecasts. The surge pressures corporate margins, especially for companies lacking pricing power, and may influence inventory cycles and earnings revisions. Market reactions, particularly in bonds and high-multiple equities, often precede headline recognition, highlighting the importance of liquidity signals. Source: Bloomberg TV @BloombergTV
