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.
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.
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?
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%
~ 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...
â–ª $SPY +14%
â–ª $QQQ +18%
â–ª $DIA +4%
Are you bullish or bearish for the 2nd half?
â–ª $SPY +14%
â–ª $QQQ +18%
â–ª $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
AMD acquires Europe's Largest Private AI Lab, Silo AI, for $665M.
$AMD 🟢 +2.50% in pre-market
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%
$COST 🟢 +2.46%
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