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Investor’s Business Daily (July 19)

2024/ 07/ 22 by jd in Global News

“Magnificent Seven stocks dumped more than $1.3 trillion in market value in a week…. Former do-no-wrong AI company Nvidia (NVDA) is the No. 1 culprit” behind the “epic implosion.” Shares in Nvidia “have plunged more than 11% from July 10. That effectively wiped out more than $417.3 billion in shareholders’ wealth — or roughly a third — of the Mag 7’s dollar-value loss in that time.”


Market Watch (July 1)

2024/ 07/ 03 by jd in Global News

“So far, high valuations haven’t dimmed investors’ enthusiasm for stocks,” but there are concerns. The forward price-to-earnings ratio of the S&P500 “currently stands at 21.1, above the 90th percentile from the past 40 years. The S&P 500 is even more richly valued on a trailing 12-month basis. In the past, when valuations have been this stretched, the median one-year forward return for the index has been -4%.”


Wall Street Journal (June 15)

2024/ 06/ 17 by jd in Global News

“Despite some CEO grumbling, businesses have thrived under Biden. Stocks are near records, corporate profits are up strongly, inflation has come down and the economy has so far managed a soft landing despite aggressive rate increases from the Federal Reserve. Industries like energy that appeared to be at risk from Biden’s policies have thrived.”


Bloomberg (April 10)

2024/ 04/ 11 by jd in Global News

“Global funds have turned optimistic on Japanese stocks over the past year, on expectation shareholder returns will improve.” Despite the booming Japan market, “Japanese startups have been turning to the US where institutional investors are more willing to bet on innovative technologies.” So it is no surprise that the NYSE “is actively engaged with a pipeline of Japanese companies, some of which may consider a US listing over the next 18 months.”


Bloomberg (March 28)

2024/ 03/ 30 by jd in Global News

“The risks are piling up for Japan’s currency, stocks and bonds as the nation’s fiscal year draws to an end right when many global markets close for Easter — and less than two weeks after the central bank hiked interest rates.”


Financial Times (March 17)

2024/ 03/ 18 by jd in Global News

“A strange thing happened this week: calm.” U.S. data revealed higher than expected price inflation. “This time around, however, government bonds wobbled only slightly and both US and global stocks held it together around record highs.” The absence of drama indicates “interest rates are shedding their suffocating dominance over global markets, and that stocks are climbing not because they are huffing the speculative fumes of imminent and aggressive potential rate cuts but because they’re worth it.”


The Economist (February 10)

2024/ 02/ 13 by jd in Global News

“This year investors in Chinese stocks have been on a hair-raising ride. Even as America’s S&P 500 index reached record highs, markets in China and Hong Kong shed $1.5trn in January alone…. The decline signals a fundamental problem. Investors abroad and at home once saw China’s government as a dependable steward of the economy. Now this trust has seeped away, with severe consequences for China’s growth.”


Markets Insider (February 8)

2024/ 02/ 10 by jd in Global News

“The takeover of passive and algorithmic trading has made value investing significantly harder, with overvalued stocks now more likely to win out.” The shift from actively managed investment has “led to fewer investors trading on the merits of individual stocks, making it harder… to find undervalued companies that will eventually close the gap between them and the rest of the market.”


South China Morning Post (February 7)

2024/ 02/ 08 by jd in Global News

“China’s state security ministry has stepped forward to warn those who disseminate ‘short’ views on the country’s economic and market prospects.” Based on this year’s performance, “excessive information manipulation has backfired and frightened away investors” from Chinese stocks on the Shanghai and Hong Kong exchanges. “To investors, a one-sided story, no matter how good it may look on the surface, is not trustworthy if there’s no counter-balance…. The rational response would be to stay away.”


MarketWatch (January 24)

2024/ 01/ 25 by jd in Global News

“Megacap technology stocks have retaken leadership of the U.S. stock market as the S&P 500 continues to hit new record highs, defying hopes on Wall Street for a more broad-based rally.” Since January 1, “the so-called Magnificent Seven have gained a combined $540.7 billion in market capitalization, compared with a total market-cap gain of $802.5 billion for the S&P 500 SPX through Tuesday’s close.”


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