While the US mkts scored an up session on Friday, the market cap of the Magnificent 7 stocks has dropped a mind-numbering USD$2 trillion...
Source: Bloomberg
And the Mag7 can fall further...just give it time.
And we have witnessed the biggest three week underperformance of Nasdaq vs Small Caps since the very peak of the DotCom bubble...
Source: Bloomberg
Crypto markets were mixed with Bitcoin bouncing back strongly, back up to USD$68,000 while ETH saw 'sell the news' relative pressure since the ETFs launched late last week.
And remember, this is going to be a busy week of data drops, both here in Australia and in the US. Aust has the Jun24 CPI quarter print and Albo will be praying inflation hasn't increased from the Mar24 quarter of 3.6% while in the US there are massive macro events (JOLTs, BOJ, Euro CPI, US ECI, FOMC, BOE, NFP), coupled with massive earnings announcements (40% of SPX market cap next week).
Happy Monday!
Sign up for the Andika Bulletin
Find freedom. Create wealth. Build a better life with the Andika Bulletin and Confidential Daily.
No spam. Unsubscribe anytime.
This information contains unsolicited general information only, without regard to any individual’s investment objectives, financial situation or needs. It is not specific advice for any particular investor or trader. Investment in the stock market involves risk.
This information may not take into account your investment objectives or financial situation, and you should obtain advice based on your own individual circumstances before making an investment decision.
This information is made available to you by ANDIKA Pty Ltd ABN 41 117 403 326, a licensed securities and derivatives dealer (AFSL # 297069).
Andy is the founder of ANDIKA Pty Ltd, a licensed securities & derivatives dealer. He's the author of fiction and non-fiction books and has been a University lecturer on risk and investment.
