McDonald’s (MCD) reported earnings early Monday morning and the results suggest the economy is rolling over into recession. Comps have been decelerating for a year now and went negative in 2Q24. US Comps were -0.7% compared to +10.3% a year…
For the first time in what seems like forever, the market corrected over the last 7 trading sessions. The leading Nasdaq-100 (QQQ) – dominated by The Magnificent 7 – lost 5.5% over that time period. At first it looked like…
Since Thursday’s weaker than expected June CPI Report, the market has undergone quite the transformation. Megacap Tech – The Magnificent 7 – which have accounted for most of this bull market’s gains have taken a breather. On the other hand,…
The June CPI came in soft Thursday morning raising expectations of a Fed rate cut in September to about 85%. In an interesting reaction to the report, investors are selling the leading stocks in the Nasdaq-100 (QQQ) and rotating into…
In his article in Saturday’s WSJ (“Nvidia’s Sucess Is The Stock Market’s Problem, Broadly” [SUBSCRIPTION REQUIRED]), James Mackintosh outlined the two things driving stocks: demand for AI chips and concern about the economy and interest rates. The former is pushing…
Barron’s ran an important article this weekend titled “There is no Magnficent 7. There’s Simply The Magnificent One” [SUBSCRIPTION REQUIRED]. That Magnicent One – obviously – is Nvidia (NVDA) which is responsible for 1/3 of the S&P’s YTD gain through…
As I suggested on Tuesday, the stock market is thinning out dramatically. While the major indexes continue to go up on a daily basis because of mega caps like Nvidia (NVDA) and Apple (AAPL), beneath the surface more and more…
Tuesday was another typical day: QQQ: +0.69% S&P: +0.27% S&P Equal Weight (RSP): -0.41% Small Caps (IWM): -0.34% While the bulls won the day at the index level, beneath the surface most stocks are going down. On the NYSE and…
Gamestop (GME) is taking advantage of the surge in its share price caused by the return of The Roaring Kitty to sell up to an additional 75 million shares. To put that in context, GME currently has about 306 million…
Nvidia (NVDA) became the third US company in history to exceed $3 trillion on Wednesday – after Apple and Microsoft. It is now the second most valuable company in the US market, surpassing Apple and trailing only Microsoft. NVDA has…