Josh brown, i love your general thoughts and perspective on hitting this milestone. Im not sure many thought back in april we would be here today, maybe one day but not this soon. You and i talked about this a little bit yesterday. The number one thing the bears got round was not the macro, in fact, the bears talking about persistently high inflation and higher for longer Interest Rates, they got all of that right. The thing that was missed by the people telling you to get out of stocks or to prioritize money market funds over longterm investing, what they missed was the unbelievable earnings power at the 500 best companies in the world which comprise the s p names. And that continues. Were seeing some of the best Earnings Growth weve seen in years right now. There was no mean reversion in Profit Margins long prophecied. They laid people off when they were overstaffed. They raised prices on customers. We can complain about that, but thats what they did. When they couldnt do that, they
S p 500 up 3. 5. All of this coming after the major indices closed at record highs. Dow up 55. The nasdaq and s p gaining 1 . Treasury yields with the tenyear yield at 4. 33 . That was fast. Lets look at the meme stocks. Well see. It could come roaring back. Gamestop now down six. It was more than double that. Amc is above the recent lows. Gamestop and amc fell during yesterdays session. Amc, as it has in the past, took advantage of the rally. Announcing a debt for equity stock. It completed a stock sale on monday. Theres the weekly chart. There is contraction and time you think that is a meme stock craze lasts four days . The last one lasted and went much higher. Much higher levels. People said gamestop was much harder to short. Right. It could be a weak phenomenon . Four or five weeks . Yeah. It went into the hundreds, didnt it . People really wanted it to happen. They wanted it to happen. It would be hard to keep any of these things going. Do you think were going to see a meme from
Aflac Is Buying a Stake in a Direct Lender, Getting a Piece of the Private Credit Boom The insurance giant is paying about $100 million to acquire a 40% stake in Tree Line Capital Partners.
.
Aflac Is Buying a Stake in a Direct Lender, Getting a Piece of the Private Credit Boom The insurance giant is paying about $100 million to acquire a 40% stake in Tree Line Capital Partners.
.
MARKET WRAPS Watch For: No major economic data expected; trading updates from Siemens, Deutsche Telekom, Swiss Re, Zurich Insurance, Sage Group, BT Group, easyJet, United Utilities Group
. -May 16, 2024 at 12:17 am EDT
- MarketScreener