After escaping a black Monday (and the 2nd largest surge in the vix ever) over a week ago, the S&P 500 $SPX is only 2.2% away from all-time highs
Source: Barchart
There are now 476,000 new homes for sale in the US, the highest inventory since February 2008.
Source: Charlie Bilello
The Economist revised forecast shows the presidential election between Kamala Harris and Donald Trump is, in effect, a toss-up.
Source: The Economist
BREAKING 🚨 The S&P 500 has added nearly $4 TRILLION in market cap since the August 5th bottom
That's $4 trillion in 9 trading days or $444 billion PER TRADING DAY since August 5th. Source: The Kobeissi Letter
Walmart CEO on using AI
"We've used multiple LLMs to accurately create or improve over 850,000,000 pieces of data in the catalog. Without the use of hashtag#generativeAI, this work would have required nearly 100X the current headcount to complete in the same amount of time" $WMT Source: The Transcript
$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
US retail sales prior month revisions: red means down...
Indeed, for the eighth month in the last year, the previous month's data was revised lower... thus making the current month 'beat' more impressive. Source: www.zerohedge.com
JP Morgan's Jamie Dimon wants to hit US millionaires with the "Buffet rule" to tackle the national debt
Source: Business Insider
