Day: November 5, 2024

Oh! The top 10 companies in the S&P 500 now account for a record 37% of the index. This percentage officially exceeds peak levels seen during the 2000 Dot-Com bubble by 10 percentage points.

Over the last decade, the market concentration has more than DOUBLED. Furthermore, the top 10 stocks alone now have a market cap of ~$18.7 TRILLION. This means that the top 10 stocks in the US now have a combined market cap that is $1 trillion higher than the entire European stock market. https://preview.redd.it/cuqaczfc64zd1.png?width=827&format=png&auto=webp&s=c82dbb0ec7f962b9432c1b6f3f55d97c81939b48 submitted by /u/XGramatik [link] [comments]

DXY Update: US Elections – Two-Way But Asymmetrical Movements – OCBC The US dollar (USD) showed fluctuations in trading last Friday.

📉 DXY Update: US Elections – Two-Way But Asymmetrical Movements – OCBC The US dollar (USD) showed fluctuations in trading last Friday. 🔍 The number of new jobs in the non-farm sector was a surprise: only +12 thousand jobs, which is significantly lower than the forecast of 100 thousand and the previous 254 thousand. The net revision of data for the last two months was -112 thousand. 💼 The unemployment rate remained at 4.1%, and average hourly earnings remained unchanged and remained at 4% year over year. 📊 At the same time, the activity index in the ISM manufacturing sector decreased to 46.5, which also turned out to be lower than expected (47.6). However, the price index rose to 54.8, while the expected value was 50. submitted by /u/Yuriy_UK [link] [comments]

B of A DESK:

“Consensus leans ‘buy the dip on Harris, sell the rip’ on Trump.” “Macro investors remain long Trump Trades (Dollar up, Yields up, Equities up).” “We’ve also seen ‘Harris Hedges’ go up against existing Trump longs.” submitted by /u/XGramatik [link] [comments]

Super Micro’s earnings report today but Wall Street is focused on a bigger Issue: possible Nasdaq delisting

It’s been a rough few months for Super Micro, and the spotlight hasn’t been on earnings as much as on the serious issues surrounding its financial reporting and compliance. Back in August, short-seller Hindenburg Research published a report accusing Super Micro of “glaring accounting red flags, undisclosed related-party transactions, sanctions and export control failures, and customer issues.” Super Micro has since countered these claims, saying the report contains false information. The situation escalated when, a day after the Hindenburg report, Super Micro announced it would delay its annual 10-K filing for the fiscal year ending June 30. By Sept. 20, the company received a letter from Nasdaq warning that it was out of compliance with listing rules due to delayed SEC filings. Then on Oct. 30, Ernst & Young, Super Micro’s accounting firm, resigned, stating it was “unwilling to be associated with the financial statements prepared by management.” Super Micro disagreed with the decision, according to a recent filing. Super Micro is up against the wall with a deadline looming on November 16. By then, the company needs to either file its overdue 10-K or submit a solid plan to Nasdaq to get back in compliance with listing rules. With earnings due out, all eyes are on whether Super Micro can regain investor confidence or if this is just the beginning of a longer battle for stability. submitted by /u/FXgram_ [link] [comments]

ELON MUSK ON REDUCTION OF GOVERNMENT SPENDING:

“The idea of DOGE is pretty simple. We have a suffocating massive bureaucracy and government spending is bankrupting the country. Our interest payments on national debt now exceed our national defense budget. The defense budget is a trillion dollars a year. We’re on a path to bankruptcy. We have to cut government spending or we’re going to go bankrupt just like a person would. I asked the AI how many government agencies there are and they don’t even know. Somewhere around 450 at the Federal level. That’s almost twice as many agencies as years that America has existed. This is insane. There’s not even one person who can name every agency at the Federal level. Eventually it will get to the point where everything is illegal and nothing can get done. We can curtail the agencies to be much smaller and stick to just what congress authorizes rather than bloat. Something is wrong if we can build a SpaceX rocket faster than they can approve paperwork. In the past what has served as a cleansing function for regulation is war. we haven’t had war, we’ve had prosperity. We need a way to cleanse regulation without war. You don’t want zero referees in a game, but you don’t want more referees than players. submitted by /u/XGramatik [link] [comments]