⁠The Kobeissi Letter
BREAKING: Nvidia stock, $NVDA, extends decline to -5% today and is no longer the 2nd most valuable company in the world.

Microsoft is now worth more than Nvidia. https://t.co/x2grSPZG44

Once the hottest stock in the market, Nvidia, $NVDA, has seen almost zero NET movement in 6 months.

The stock is currently trading at the same levels seen in June 2024.

Even as the broader market recovers, $NVDA can barely hold $120.

Has Nvidia lost its momentum? https://t.co/qQaqMCRHtv - The Kobeissi Letter
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⁠The Kobeissi Letter
BREAKING: President Trump is preparing an auto tariff announcement that could come as soon as today.

This comes after President Trump granted a 1-month delay on some auto tariffs on March 6th.
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⁠The Kobeissi Letter
BREAKING: US stocks fall to a new low of the day as President Trump prepares auto tariffs with the S&P 500 down nearly -1% and Nasdaq 100 down -1.7%. https://t.co/6OMJHTFIJs

BREAKING: President Trump is preparing an auto tariff announcement that could come as soon as today.

This comes after President Trump granted a 1-month delay on some auto tariffs on March 6th. - The Kobeissi Letter
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⁠Quiver Quantitative
BREAKING: Marjorie Taylor Greene calls for the complete defunding and dismantling of the Corporation for Public Broadcasting.

"You all can hate us on your own dime" https://t.co/KHsQWoogRQ
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⁠The Kobeissi Letter
The trade war is back:

Markets are expecting Trump's April 2nd reciprocal tariffs day to be the "end of uncertainty."

But, we believe it will be the exact OPPOSITE, which is why tech stocks are down over -$400 billion this week.

Here's what's coming next.

(a thread) https://t.co/UPfm1lF7dh
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⁠The Kobeissi Letter
BREAKING: US stocks extend declines with the S&P 500 now down over -1%.

See our thread below on what’s coming next in the trade war. https://t.co/XS6mDyedNJ

The trade war is back:

Markets are expecting Trump's April 2nd reciprocal tariffs day to be the "end of uncertainty."

But, we believe it will be the exact OPPOSITE, which is why tech stocks are down over -$400 billion this week.

Here's what's coming next.

(a thread) https://t.co/UPfm1lF7dh - The Kobeissi Letter
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⁠The Kobeissi Letter
BREAKING: President Trump to announce new auto tariffs at 4 PM ET, per CNBC. https://t.co/XRQfGqR61n

The trade war is back:

Markets are expecting Trump's April 2nd reciprocal tariffs day to be the "end of uncertainty."

But, we believe it will be the exact OPPOSITE, which is why tech stocks are down over -$400 billion this week.

Here's what's coming next.

(a thread) https://t.co/UPfm1lF7dh - The Kobeissi Letter
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⁠The Kobeissi Letter
US pension funds are buying massive amounts of stocks this week:

Pension funds are estimated to purchase ~$85 billion of US equities in a quarter-end rebalancing, the most since the 2020 pandemic, according to UBS.

This would mark their second-largest buy on record.

Additionally, US target date funds are projected to acquire $20 billion of stocks, the most since 2022.

The majority of rebalancing would be out of bonds and into equities as the market pulled back this quarter.

As a result, we have seen strong upside in stocks this week.

Can the rally hold once rebalancing ends?
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⁠Value Spotlight (Andrew Sather)
Is the carnage in Alibaba over?

ROIC seems to think so. Two things stand out after looking at 5 years of ROIC https://t.co/FTcWZdCyI5
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