Category Archives: Daily Top Ten

TOPLEY’S TOP 10 September 24, 2025

1. Why is Market Going Up?  Record Profit Margins Before Future AI Cost Savings Even Kick In…

From Irrelevant Investor Blog

The Irrelevant Investor


2. The “S&P 22” Equals 50% Weighting vs. 4% of Stocks in Index

Marketwatch By Christine Idzelis  The “S&P 22” group — which equates to a collective 50.3% weighting in the S&P 500, yet makes up just 4% of stocks in the index — includes companies such as retail giant Walmart Inc., he noted

MarketWatch


3. Only 2 Bull Markets Where Cap-Weighted Outperformed Equal-Weigh—Internet Bubble and Today

Bespoke-The only two bulls where the cap-weighted S&P outperformed the equal-weight S&P were the 1990s Dot Com bull and the current “AI Boom” bull. We’ll get to more on this later, but looking at the bear markets that followed these bulls, the equal-weight S&P outperformed the cap-weighted index significantly during the Dot Com Bust bear markets of the early 2000s, and then equal weight underperformed during the Financial Crisis bear and the COVID Crash. During the 2022 bear market that followed the meme-stock and SPAC craze bull market of 2020 and 2021, the equal-weight version of the S&P outperformed slightly.

Bespoke


4. U.S. Dollar at 14-year Support Line

DoubleLine Capital


5. EWY South Korea +60% Year to Date….50day thru 200day to Upside on Weekly Chart

StockCharts


6. Former Popular Retail Trading Name…TTD Trade Desk -67% from Highs ..Back to End of 2023 Levels

StockCharts


7. America Loves Warehouse Stores-CNBC …..COST and WMT Higher P/E Ratios than NVDA

CNBC


8. Leaders of Industrial Robotics

Visual Capitalist


9. Which Jobs Rely on Tips?

SherwoodNews


10. The Worst Foods for Brain Fog

Mark Hyman, MD Co-Founder & Chief Medical Officer of Function Health

Of all the health complaints I field,  brain fog is near the top of the list.

It’s also one I deeply empathize with, as I experienced it after suffering mercury poisoning. When you have it, you can’t think clearly, focus, or remember things.

It’s as if you’re wading through mental quicksand.

In functional medicine, we view this often debilitating symptom as a warning light on the body’s dashboard.

However, similar to a strange pinging or screeching noise in your car, pinpointing the root cause of brain fog can require a bit of detective work.

That’s because brain fog isn’t a disease like heart disease or cancer.

Instead, like a persistent cough, it’s a symptom with many potential causes.  Possible culprits include poor sleep, stress, dehydration, and exposure to toxins like mercury, among others.

However…

One of the biggest drivers of brain fog lies in the gut.

Many people are sensitive to one or more foods. When they consume them, these foods disrupt the gut.

The gut disruption then sends ripple effects to the brain, leading to feelings of fogginess and a lack of focus.

Based on my clinical experience with patients, five foods top the list of most common offenders. Are you eating them?

The Gut-Brain Connection

The connection between gut health and brain fog is profound.

Consider Long COVID, the persistent brain fog, fatigue, and other symptoms that some people experience for months after they’ve recovered from the virus.

For people with Long COVID, it can feel as if symptoms manifest in the brain.

However, according to a growing body of research, Llong COVID’s fatigue and fog stem from remnants of the virus in the gut.

As the immune system continually attempts to corral the gut infection, it releases proteins that reduce levels of serotonin, which in turn may trigger fatigue, brain fog, and other symptoms.¹ (Learn more about Long COVID with my Comprehensive Guide to Long COVID Recovery.)

Here are a few additional ways gut health influences brain health:

  • Your gut lining acts as a barrier. When this barrier becomes “leaky” (a condition known as intestinal permeability), undigested food particles and other substances can sneak into the bloodstream. Your immune system reacts, triggering widespread inflammation, including in your brain. This inflammation can impair cognitive function, leading to brain fog.
  • Your gut is home to trillions of bacteria. Your gut is home to trillions of bacteria—some helpful, some harmful. When the good bacteria dominate, they support digestion, protect your gut lining, and even produce compounds that benefit the brain. But when the harmful ones take over, a condition called dysbiosis, the balance tips in the wrong direction. These “bad” bacteria can release toxins and inflammatory signals that reach the brain, interfering with its function.
  • A damaged gut can struggle to absorb key nutrients. B vitamins, magnesium, and other nutrients needed for brain health tend to be most affected. Without these nutrients, your brain can’t produce the energy or neurotransmitters it needs to function optimally, leading to mental fatigue and fog.

The bottom line? If your gut isn’t healthy, your brain won’t be either.

The Worst Foods for Your Gut— and Your Brain

During my many decades as a functional medicine doctor, I’ve seen thousands of patients whose brain fog traced back to gut issues.

The science increasingly supports these connections, though in some cases the research is still emerging.

If I waited for every answer to be proven beyond doubt, I’d miss countless opportunities to help people. Again and again, my clinical experience has shown that the same five common offenders are often at the root of the problem.

  • Gluten: For people with celiac disease, eating gluten sets off an immune reaction that damages the gut and drives body-wide inflammation.² That inflammation—along with a leakier gut barrier—can affect other organs, including the brain, and is linked with symptoms like brain fog, headaches, and mood changes.2,3 Some people without celiac disease also report similar symptoms when they eat gluten (often called non-celiac gluten sensitivity), though the “why” is still unsettled.4,5
  • Dairy: For people who are sensitive, certain types of dairy can stir up inflammation that may affect the gut as well as the brain.⁶ The main protein in dairy, casein, comes in two forms—A1 and A2. When A1 casein is digested, it can release compounds called casomorphins, which interact with the brain in ways similar to opioids (and, could hypothetically make you feel foggy, sluggish, or even sleepy).⁷ In infants, milk digestion produces higher amounts of casomorphins, and their effects have been studied more extensively.⁸ In adults, the science is less clear, but some research suggests that switching away from A1-containing milk may lead to small improvements in fatigue, mood, or perceived mental clarity.6,9
  • Artificial Sweeteners: Some, like saccharin and sucralose, can alter the gut microbiome, especially with frequent or higher intake, which could have downstream effects that impact the brain.¹⁰
  • Alcohol: Drinking can disrupt both gut and brain health. Research shows that alcohol can damage the gut lining, increase intestinal permeability, and alter the microbiome—changes that promote inflammation.11,12 In the brain, heavy or frequent use is linked to impaired cognitive function and structural changes, while even moderate intake has been associated in large studies with faster cognitive decline.¹³
  • Ultra-Processed Foods: Diets high in ultra-processed foods are linked to shifts in the gut microbiome, reduced microbial diversity, higher intestinal permeability, and low-grade inflammation.¹⁴ These foods tend to be high in refined carbs, additives, and industrial fats, which may worsen gut barrier function and promote dysbiosis. Large population cohorts also show that frequent consumption of ultra-processed foods is associated with faster cognitive decline.¹⁵

These foods aren’t problematic for everyone. We likely all know someone who can down a whole pizza along with several pints of beer and experience zero ill effects.

But for people who experience brain fog regularly, cutting back on one or more of these culprits—depending on the individual—can often make a real difference, bringing back clearer thinking, better memory, and sharper focus.

The research needs to continue to progress in this area, but in the meantime, the positive changes I see with my patients are impossible to ignore.

The DIY Food Sensitivity Test

An elimination diet is the best way to figure out whether gluten, dairy, or any of the other common offenders are a problem for you.

The idea is simple. You temporarily remove one or more food triggers from your diet, give your body time to reset, and then reintroduce those foods one at a time to see how they affect you.

Not sure where to start? My 10-Day Detox can help. In fact, I started using it with my patients for this very reason.

This short-term eating plan eliminates the most common gut-distrupting offenders from your diet. Then, you reintroduce them one at a time to see which ones do (and don’t) lead to problems.

Thousands of people who’ve tried it report clearer thinking, more energy, less bloating, and reduced joint pain. If you’ve been frustrated by lingering symptoms, know this: you’re not alone, and you’re not without options.

An elimination diet may sound hard or inconvenient, but you know what’s really hard? Living day after day with brain fog, fatigue, and other symptoms that never seem to let up.

That’s why I designed the 10-Day Detox—it gives you a clear, step-by-step way to take back control of your health and find relief.

Many are shocked by how much better they feel in just 10 days—maybe you will be, too.

https://www.linkedin.com/pulse/worst-foods-brain-fog-mark-hyman-md-zhboc/?trackingId=lBCFd7o7cHBZgr0AGFdbeQ%3D%3D

TOPLEY’S TOP 10 September 23, 2025

1. History of Small Cap During Similar Rate Cuts by Fed

Dorsey Wright When the Federal Reserve has implemented interest rate cuts spaced more than 100 days apart since 1990, historical returns indicate that small-cap equities, represented by the iShares Russell 2000 ETF (IWM), deliver strong forward returns. Although near-term returns (1–3 months) are often muted, IWM’s average returns are 16% at one year and 32.7% at two years, as shown in the table below. For investors aiming to diversify beyond the S&P 500 (SPX), IWM presents an opportunity to gain exposure in a different areas within U.S. equities.

NASDAQ DORSEY WRIGHT


2. Goldman Sachs Retail Favorite Buy Stocks…Record Consecutive Days of Gains

Sherwood News

Sherwood


3. Tech is Dependent on H-1B Visas…Majority from India

CNBC


4. 40-50% of Venture Funds Suffering a Loss Relative to NAV

PitchBook


5. PYPL has Reduced its Share Count by 1/5 in 5 Years

Koyfin


6. U.S. Dollar to Swiss Franc Trades Down to 2023 Lows

StockCharts


7. American Imports From China 21% to 9% Less than 10 Years

Semafor


8. Chinese Made EVs Big Market Share Gains in Asia

WSJ


9. Fantastic 4 Movie 3200 Employees?? Prof G

PROF G MEDIA


10. Brain Health and Mental Capacity Depend on Physical Activity

Our executive and emotional skills remain connected to activity by evolution. Sarah Gingell Ph.D.

Key points

  • The evolution of adaptations for physical activity and cognitive and emotional skills are intertwined.
  • Physical activity remains a key driver of brain health, while inactivity reduces cognitive resources.
  • This “evolutionary bug” has revealed itself only as sedentary lifestyles have become possible.

Nowadays, no one seriously doubts that physical activity improves our physical health, along with our mental health and cognitive abilities.

Physically active children perform better in school, achieving better academic outcomes than less active children. Active kids also typically have better mental health, with improved self-esteem, social confidence, and emotional regulation, and lower levels of stressanxiety, and depression. Sedentary adults who start exercising show improvements in attentionmemory, and thinking skills, in addition to improved mood and mental health conditions such as depression. Older adults who have been physically active throughout their lives tend to have higher physical and mental well-being, lower levels of neurodegenerative conditions, and retain sharper minds.

But have you ever wondered why?

We are familiar with the idea that our bodies adapt to functional demands. When we are new to running, we are initially unable to meet our muscles’ increased oxygen demand. However, with continued training, new blood vessels develop to supply more oxygen-laden red blood cells, and we breathe more easily. Muscles and bones would grow stronger, the lungs would become more efficient, and many other metabolic and energy management adaptations would occur.

It is often assumed that exercise improves brain health only as a beneficial side effect of these adaptive bodily changes. For example, better cardiovascular function increases cerebral blood flow, enhancing oxygen and nutrient delivery to better support the health of brain cells. However, recent research is clear that many of the exercise-related chemical factors produced by the muscles, bones, liver, and other tissues also target the brain directly. Some of these “exerkines” and metabolites might one day form part of an ‘exercise pill’ to protect brain health.

Why does our brain respond to physical activity in such a direct way?

The fascinating answer may date to around 2 million years ago, when our ancestors descended from the trees and developed skills to move and survive on the ground. The neuroscientist and anthropologist David Raichlen argues persuasively that “we evolved to be cognitively-engaged endurance athletes.”

As early humans developed physical adaptations for walking, running, and aerobic activity, they also developed skills for hunting and foraging. Foraging and persistence hunting—which could involve tailing animals for days—requires planning, organisation, and focus. We recognise these skills in our modern “executive functions” of working memory, cognitive flexibility, and self-control. Physical endurance also depended on constructively managing exhaustion, fear, and anxiety, flexibly responding to setbacks, maintaining focus, not giving up, and so on, all key aspects of emotional regulation.

What began as neural circuits for reflexive movement control gradually expanded through evolution in humans into systems in the prefrontal cortex, cerebellum, and basal ganglia that support flexible activity, abstract thought, and behavioural regulation. Early humans’ evolutionarily adaptive responses to the physical and mental demands of hunting and foraging developed in tandem, and remain intertwined in our modern brains.

This might explain how brain systems evolved, but not why day-to-day physical activity remains so important to the brain health of modern man.

Gerd Kempermann has argued that for our ancestors, being on the move was likely to be associated with mental challenges. Responses to physical activity prime neurons for possible learning, through neuroplastic changes that allow neurons to form new connections or reorganise existing connections to record learning. These connections can then be utilised and stabilised by cognitive and emotional tasks, so that repeated pairing of physical and mental tasks builds brain capacity.

But here’s the kicker.

Because movement wasn’t optional for our ancestors to survive and did not need to be encouraged, evolutionary pressures favoured energy conservation when possible.

This means that we lose energy-consuming capacity when it is not needed.

We are familiar with the idea that unneeded muscle strength and bulk are lost if we don’t exercise. Unfortunately, something similar occurs in the brain. If we are chronically inactive, the hippocampus shrinks more quickly, accelerating age-related cognitive decline. BDNF production is suppressed, limiting the capacity to learn. Levels of mood-enhancing neurotransmitters such as dopamine, serotonin, and norepinephrine drop, and the prefrontal cortex shrinks and becomes less efficient, impacting executive functions and emotional regulation.

This “evolutionary bug” is revealed only when sedentary lifestyles become a possibility.

What makes this so problematic is that we are also evolutionarily programmed to be drawn to inactivity to conserve energy (even though calories are abundantly available for most of us). The immediate visceral rewards of sedentary activities, such as eating and relaxing (or cat videos), often outweigh the abstract delayed benefits of fitness, such as long-term health improvements, when we have the choice.

Daniel Lieberman has pointed out that we are not well-equipped by evolution to “choose” exercise. One option is to change our environment so we have no choice but to move—our ancestors’ path to exercise. We might take the stairs, park a few blocks away from work, or sell the car… Another option is to make activity more pleasurable so that we want to do it. Start by dancing in the kitchen, walking with friends, trampolining with the kids, or working out with brilliant music and cool clothes.

The key is to start. Once we rouse ourselves into action, evolution has a neat trick to keep us going.

Even a short bout of aerobic exercise, a walk, or light stretching increases dopamine and BDNF release, enhancing mood and motivation and reducing stress. This reward reinforces learning behaviours by making them feel pleasurable, which encourages repetition.

More consistent exercise leads to a general upregulation of dopamine function, which strengthens the overall responsiveness of all reward pathways, not only those involved in exercise. So life in general starts to feel better. This is why exercise can be an effective treatment for depression, addiction, and other mood disorders. Exercise itself acts as a natural reward booster, with the added benefit of neuroplasticity, helping the brain form healthier motivational patterns.

We’ve been built to need to move. And moving more means you’ll like moving more, and everything in life will feel better. This is the real incentive.

https://www.psychologytoday.com/us/blog/what-works-and-why/202509/brain-health-and-mental-capacity-depend-on-physical-activity

TOPLEY’S TOP 10 September 22, 2025

1. Sales Growth and Margin Expansion=Higher Market

SPX return drivers. “Sales growth & margin expansion [are] powering S&P 500 returns in 2025, much more so than multiple expansion.”

Sonu Varghese – Carson Group


2. INTC News ….AMD -20% Correction from Highs…Flat for 1-Year Basis

Stock Charts


3. INTC News…ARM Holdings Flat 1-Yr Return

Stock Charts


4. Intel Free Cash Flow Went Negative in 2022


5. Last Week was the End of 2nd Longest Small Cap Streak

Bespoke


6. Private BDC’s Raising Massive Assets

Financial Times


7. Tariffs Annualized $350 Billion

Significant Amounts of Tariff Revenue Collected at the Moment

The US government currently collects about $350 billion in tariffs at an annualized rate, which corresponds to 18% of annual household income tax payments, see charts below.

The bottom line is that the amount of money collected in tariff revenue is very significant.

Torsten Slok Apollo


8. Solar-Powered Cars and Trucks Are Almost Here

WSJ-New, power-sipping EVs due next year are efficient enough to gain 10 to 40 miles of daily charge from the sun alone

By Christopher Mims

Telo Trucks says its optional solar-panel system can provide 15 to 30 supplemental miles a day. Photo: Telo trucks

A handful of startups will soon sell technologies that can power a substantial portion of a driver’s daily mileage with nothing but abundant, free sunlight.

Aptera Motors needed automotive-grade solar panels that could conform to the sinuous curves of its radical new EV, but the Carlsbad, Calif.-based automaker found there weren’t any good options. So it decided to make its own.

In the process, it kicked off a cottage industry of U.S. companies aiming to make everyday vehicles solar-powered.

Now the company is poised to ship a $40,000 car as soon as next year that can get between 15 and 40 miles of range a day from the sun alone—and can run for up to 400 miles between charges.

The key to this innovation isn’t solar panels that are better at turning sunlight into electricity. Existing ones are already pretty good at that. The real unlocks are the innovations that have made today’s EVs more efficient, and new power electronics to get energy from the sun into their batteries.

https://www.wsj.com/business/energy-oil/aptera-motors-solar-powered-electric-vehicles-6ec1095f


9. New Grayscale ETF holds multiple cryptocurrencies together, combining bitcoin, Solana and others

Yun Li@YunLi626

Grayscale Bitcoin Trust ETF signage on the floor of the New York Stock Exchange in New York, US, on Thursday, Jan. 11, 2024.

Grayscale Investments has brought a new twist to crypto investing, rolling out the first multi-token exchange-traded product available in the U.S.

The Grayscale CoinDesk Crypto 5 ETF begins trading Friday on NYSE under the ticker GDLC. The fund bundles together the five largest and most liquid digital assets — bitcoin, ether, XRP, Solana, and Cardano. These five tokens capture more than 90% of the market capitalization of the digital-asset class, according to Grayscale.

“We are ushering in the age of crypto index investing,” Peter Mintzberg, CEO of Grayscale, told CNBC. “We are typically in the first mover position. Grayscale will continue innovating at scale for investors to access the fastest growing asset class of the last 10 years.”

The long-awaited launch followed an approval Wednesday evening from the Securities and Exchange Commission that allowed Grayscale to convert its Digital Large Cap Fund into an ETF and allocate to multiple digital coins.

The move underlines the growing appetite among institutional and retail investors for diversified crypto exposure. The asset class is becoming more mainstream under the Trump administration after the White House’s move to open retirement plans to alternative assets including cryptocurrencies.

The fund allocates about 70% to bitcoin and 20% to ether. The product has existed in other forms since 2018, most recently trading over the counter.

GDLC has gained more than 40% in 2025 as many cryptocurrencies hit record highs. GDLC has outpaced bitcoin by nearly 11% since June, as all four other assets in the fund outperformed the largest digital token.

https://www.cnbc.com/2025/09/19/new-grayscale-etf-holds-multiple-cryptocurrencies-together-combining-bitcoin-solana-and-others.html


10. Tyson Announced It Will Remove Crap from Food

TOPLEY’S TOP 10 September 19, 2025

1. Small Cap IWM Clear Break-Out to New Highs

StockCharts


2. Truflation Updated Number…Ticked Up 1.93% to 2.01%

Truflation


3. Intel Rallies Back to Gap Down Level 2024….July 2024 Suspended Dividend, Massive Layoffs

StockCharts


4. Supply Growth Rate of Commodities

zerohedge


5. IPO ETF Outperforming S&P 2025

YCharts


6. Tesla Making Run at 3-Year High

StockCharts


7. Nuclear Power by Country

Visual Capitalist


8. Klarna PE Investors from 2021 Still in Red on Valuation

Klarna


9. Share of U.S. Homebuyers that Get Help From Family

Business Insider


10. Before we learn a new skill-Seth’s Blog

The pre-work involves important choices:

  • Am I willing to be wrong about the fact that I’m a person who doesn’t know how to do this?
  • Am I open to feeling incompetent as I discover a new skill is possible, but I don’t know how to do it yet?
  • Will I be resilient enough to recover if I try to do this and fail?
  • Can I temporarily be an imposter, someone who acts like they know the skill, but doesn’t, not quite…
  • Am I eager to be friends with the person who I’m going to become if I make this shift?

Skip these steps and you might as well not bother to begin.

https://seths.blog/

TOPLEY’S TOP 10 September 18, 2025

1. 63% of Venture Capital Deals in North America are AI—Torsten Slok Apollo

Torsten Slok Apollo


2. StubHub IPO Closes Down on Day….The Company has $2.4B in Debt

Google


3. Predicted Fed Rate Cuts

Goldman Sachs forecasts that the Fed will cut interest rates from 4.3% to 3.1% by the end of 2026.

Isabelnet at Spilled Coffee Blog


4. Here is the Stat Fed is Watching…Unemployment Rates Rising 20-24 Year Olds

Charlie Bilello


5. Defensive Consumer Staple Sector Continues Downward

XLP vs. SPY. “In case you’re wondering which type of environment we’re in right now, here’s the Consumer Staples sector relative to the S&P 500 hitting new all-time lows. During healthy markets, this line tends to go down. Currently, the line has never been more down.”

JC Parets – TrendLabs


6. America is a Stock Nation vs. World

Irrelevant Investor Blog


7. U.S. Dollar Closing in On Breaking Support

StockCharts


8. Canada and Mexico American Trade Reliance

Semafor


9. Cboe Plans to Launch Continuous Futures for Bitcoin and Ether, Beginning November 10

  • New futures designed to efficiently deliver continuous long-term market exposure to bitcoin and ether
  • Aims to provide access to perpetual-style futures in a U.S.-regulated, intermediated environment
  • Marks next phase of Cboe’s expanding product innovation roadmap

CHICAGO, Sept. 9, 2025 /PRNewswire/ — Cboe Global Markets, Inc. (Cboe: CBOE), the world’s leading derivatives and securities exchange network, today announced plans to launch Cboe Continuous futures on Cboe Futures Exchange, LLC (CFE) beginning November 10, 2025, pending regulatory review.

The new product suite will debut with bitcoin and ether Continuous futures, offering U.S. traders a simpler and efficient way to gain long-term exposure to digital assets, execute trading strategies and manage risk – all within a U.S.-regulated, centrally cleared and intermediated framework.

Unlike traditional futures contracts that may require periodic rolling, Cboe Continuous futures are planned to be structured as single, long-dated contracts with a 10-year expiration, reducing the need to roll positions over time and simplifying position management. These contracts will be cash-settled and aligned to real-time spot market prices (i.e., spot prices of bitcoin and ether, respectively) through daily cash adjustments, using a transparent and replicable funding rate methodology.

At the HOOD Summit in Las Vegas, Catherine Clay, Global Head of Derivatives at Cboe, remarked: “Perpetual-style futures have gained strong adoption in offshore markets. Now, Cboe is bringing that same utility to our U.S.-regulated futures exchange and enabling U.S. traders to access these products with confidence in a trusted, transparent and intermediated environment. We expect Continuous futures to appeal to not only institutional market participants and existing CFE customers, but also to a growing segment of retail traders seeking access to crypto derivatives. As we continue to expand CFE’s offerings to serve all types of market participants, these futures are a next step to advancing our product innovation roadmap.”

The launch builds on Cboe’s ongoing commitment to further growing and diversifying its CFE product suite, which in addition to its flagship Cboe Volatility Index (VIX) futures include innovative products based on equity volatility, digital assets and global fixed income.

The new bitcoin and ether Continuous futures will be cleared through Cboe Clear U.S., a CFTC-regulated derivatives clearing organization, positioning Cboe to further expand its clearing capabilities as it looks to build a robust global derivatives exchange and clearing ecosystem.

The Options Institute will host educational courses on continuous futures on October 30 and November 20. Registration is open to the public. For more technical information on Cboe’s new bitcoin and ether Continuous futures, visit here.

About Cboe Global Markets

Cboe Global Markets (Cboe: CBOE), the world’s leading derivatives and securities exchange network, delivers cutting-edge trading, clearing, and investment solutions to people around the world. Cboe provides trading solutions and products in multiple asset classes, including equities, derivatives, and FX across North America, Europe, and Asia Pacific. Above all, we are committed to building a trusted, inclusive global marketplace that enables people to pursue a sustainable financial future. To learn more about the Exchange for the World Stage, visit www.cboe.com.


10. Workers to Bear Brunt of Rising Healthcare Costs in 2026

Axios