BREAKING: Magnificent 7 stocks have officially exceeded $15 trillion in combined market cap for the 1st time ever.

The group's combined market cap now equals over 50% of US GDP.

In just 2 months the Magnificent 7's value has surged by a whopping $2 trillion.

The Magnificent 7 stocks have rallied by over 60% over the last 12 months compared to only a 20% gain in the other 493 S&P 500 stocks.

Combined they reflect over a record 30% of the entire S&P 500.

Big tech is getting even bigger.

The S&P 500 rose Monday to close at a fresh record as Wall Street looked to build on last week's gains.
The broad index added 0.77% to finish at 5,473.23, while the NASDAQ surged 0.95% to settle at 17,857.02. The Dow Jones added 188.94 points, or 0.49%, to end at 38,778.10 and snap a four-day losing streak.

Nvidia (NVDA.O) became the world's most valuable company on Tuesday, dethroning tech heavyweight Microsoft (MSFT.O) as its high-end processors play a central role in a scramble to dominate artificial intelligence technology.

Carvana Y/Y Sales per Share growing again. 👀 $CVNA

It took Microsoft 17 YEARS to make a new high after the dot-com bubble. $MSFT

Don't let a bad trade turn you into a long-term investor.

Nvidia, $NVDA, is now larger than:

1. GDP of every country in the world except 7
2. The entire #crypto market COMBINED
3. 5x the market cap of Tesla
4. 6x the market cap of Walmart
5. The market cap of the entire French stock market
6. Canada's GDP plus $1.2 trillion in cash
7. 13x the market cap of AMD
8. 3x the GDP of the city of Los Angeles
9. Amazon and Berkshire Hathaway COMBINED
10. Collective net worth of 12 richest people in the world

Nvidia's market cap is now worth more than the entire US oil and gas industry.

It's also worth more than every building in New York City COMBINED.

Since October 2023, Nvidia has added $2.3 TRILLION in market cap.

Is this the best run in stock market history?

ZUCK IS SELLING AGAIN. 💰 $META

Mark Zuckerberg has quietly sold over $55,000,000 in shares so far in the month of June.

US technology funds saw a $9 billion inflow last week, the largest weekly inflow ever recorded.

The previous record was posted in Q1 2023 and amounted to ~$8.5 billion.

According to Bank of American, Long Magnificent 7 has been the most crowded trade for 15 consecutive months.

As a result, the Magnificent 7 have exceeded $15 trillion market cap for the 1st time in history.

Currently, the Magnificent 6 account for a record 32% of the S&P 500.

Over the last two decades, $XLE has a 65% win rate in July, the second highest win rate for the ETF.

The Fed has been shrinking its balance sheet at the fastest pace ever:

Since April 2022, the Federal Reserve has reduced its balance sheet by $1.71 trillion to $7.25 trillion, a 19% decline.

By comparison, from 2017 to 2019 the Fed’s balance sheet runoff amounted to 16%.

However, the Fed's balance sheet still stands $3.1 TRILLION above pre-pandemic levels.

Meanwhile, the Fed slowed the pace of runoff from $95 billion to $60 billion a month at the beginning of June.

Will the Fed's balance sheet ever reach pre-pandemic levels?

Nike $NKE taking a nose dive in after-hours.

~ EPS: $1.01 vs $0.85 est
~ SALES: $12.60B vs $12.91B est
~ Total revenues -2.00%

$NKE 🔴 -4.83%

And just like that, the 1st half of 2024 is over...

▪ $SPY +14%
▪ $QQQ +18%
▪ $DIA +4%

Are you bullish or bearish for the 2nd half?

With the recent legislative rulings in USA, defense stocks and consumer staples appear more attractive from a defensive standpoint. Lockheed Martin, Raytheon, and General Dynamics, Proctor and Gamble

JUST IN:

AMD acquires Europe's Largest Private AI Lab, Silo AI, for $665M.

$AMD 🟢 +2.50% in pre-market

The market is soaring, a bull market has been established gentlemen.

Costco trading above $900 for the first time EVER after announcing plans to raise its membership prices by $5/year for Gold members and $10/year for Executive members.

$COST 🟢 +2.46%