223 results found
Daily Market Commentary
The headlines surrounding the SpaceX IPO seem mainly focused on how high the stock will go. There is a more important question stemming from the SpaceX IPO and other large deals that few seem to be asking: where will the money come from? SpaceX is targeting a $1.75-$2.00 trillion valuation and a capital raise of […]
Economics
Wall Street has piled into the dollar debasement story; however, as is always the case, when everyone is on one side of the trade, the other side becomes more compelling. In Part 1, we explored why Dollar Dominance Remains Alive and Well. Today, we will explore the stronger-dollar trade, the one macro trade that nobody […]
Newsletter
The headline tape made fresh history. The S&P 500 closed Friday at 7,580.06, finishing up 1.43% on the week and posting its ninth consecutive weekly gain. That's the longest weekly winning streak since 2024, and only the 5th time since 1965 that has occurred. While markets previously saw weakness following such streaks, the 24- and 52-week outcomes were primarily positive, except in 1989.
Newsletter
The week opened on the back foot and ended at a record high. The S&P 500 closed Friday at 7,473.47, up 0.37% on the day and 0.9% for the week, notching its eighth straight winning week. That's the longest weekly win streak since late 2023.
Daily Market Commentary
When investors discuss the semiconductor chips driving AI infrastructure, they almost always key on Nvidia GPU chips. That’s not surprising, given the surge in Nvidia GPU revenue as we share below. Since 2024, GPU revenue has risen by over 1300% while Nvidia shares are up almost 400%. Nvidia has certainly played the lead role in […]
Daily Market Commentary
There is plenty in the media about whether this recent market surge is driven by strong earnings and upwardly revised earnings estimates, or by market mechanics. While earnings have been impressive, the bulk of the fundamental performance has been driven by a handful of AI/technology companies. Similarly, while the broad market indexes have performed well, […]
Newsletter
The S&P 500 closed Friday at 7,408.50, surrendering the historic 7,500 level it briefly breached Thursday and ending the week with a gain of just 0.3%. That Thursday intraday high of 7,517 now looks like a blow-off signal rather than a launching pad, and the week's full narrative explains exactly why.
Economics
The stagflation narrative dominating financial social media isn't completely wrong. That's what makes it so dangerous. After more than 30 years of managing client portfolios through actual inflationary cycles, not watching them on YouTube,
Invest
Intel (INTC) shares have risen 90% over the past month and more than 200% since the start of the year. Its competitors, Advanced Micro Devices (AMD) and Micron (MU), are posting similar gains. Many other semiconductor stocks, along with some computer hardware companies, are the market’s latest AI darlings. Momentum and gamma are driving the […]