Yes, you read that right: Texas will host a stock exchange. BlackRock and Citadel are lead investors in a new national stock exchange that plans on calling Texas its headquarters. The Texas Stock Exchange will file for registration with the SEC later this year and hopes to be operational in 2026. The exchange will be […]
Here we go again. At the peak of the mortgage bubble, leading to the Great Financial Crisis (GFC), lenders were offering zero down mortgages. As you may remember, that ended poorly. Accordingly, we presumed that the mistake would not be repeated. We are proven wrong. Per CNN, United Wholesale Mortgage (UWM) is offering mortgage borrowers […]
Crude oil prices have fallen by 10% over the last five days and nearly 20% since early April. As we will share, a few factors are negatively impacting the price of crude oil. First, OPEC surprised the markets this past weekend. They agreed to extend most of its production cuts to next year but are […]
GameStop shares traded nearly 100% higher in pre-market trading before Monday’s official 9:30 ET opening. The reason is a Tweet and Reddit post from Roaring Kitty. On Twitter, he shared the picture below of an Uno playing card. Further, on Reddit, Roaring Kitty posted for the first time in three years. It sounds unbelievable because […]
In mid-March, we presented daily Commentary readers with a section entitled, Add Cocoa To The List Of “Mooning” Assets. When we wrote the article, the price of cocoa was up by 70% for the year, in line with year-to-date gains in bitcoin and Nvidia. Since then, cocoa prices have fallen by over 40% but have […]
We haven’t written lately on Cathie Wood and her ARKK Innovation ETF. But given the popularity of her funds, their horrendous results over the last three years, and Wood’s preposterous claims, let’s knock on Cathie Wood and ARKK. Wood started the ARKK fund and others in 2014. The flagship fund, ARKK Innovation Fund, seeks long-term […]
The graph on the left below, courtesy of Arbor Data Science, shows that $8 billion of funds flowed into U.S. large-cap ETFs, leaving every other broad ETF sector in the dust. Not surprisingly, U.S. large-cap stocks, consisting of the S&P 500 and, importantly, Nvidia, outperformed the market. The other ETF factors, such as small and […]
Nvidia shares have risen by 600% in the last two years. While some say its shares are now grossly overpriced, its earnings and sales growth argue otherwise. Nvidia’s surging stock prices typify what is happening with many stocks related to the AI boom. While technology sector stocks appear to benefit most from AI, other sectors […]
Thursday’s Commentary led with a discussion of how sales at major retailers were slowing appreciably. The takeaway from the piece is that personal consumption, accounting for two-thirds of GDP, is slowing. A reader emailed us, “Not so fast with your judgment. “You may be right, but you should also look at spending on food for […]