Retail imbalance. “In the first hour of trading, the so-called retail investors yanked $1.2 billion out of the US equity market — the largest pullback during that time period since JPMorgan Chase & Co.’s data begin a decade ago … The pullback from single stocks reached $1.1 billion and was broadly distributed across sectors.”
Bloomberg
2. XLK Tech ETF Below 200-Day
StockCharts
3. XLK Tech ETF Longer-Term Chart…Trading Above 50-Week Moving Average Since March 2023
StockCharts
4. Google Searches Grew 20% Since ChatGPT Debut in 2022
Google-ing it still reigns supreme. OpenAI’s ChatGPT may pose an ongoing threat to Google’s business, but the numbers don’t indicate that just yet. On Monday, Google said it sees more than 5 trillion search queries a year, and basic math from Barclays analysts suggests it may have grown over 20% since ChatGPT’s debut in 2022. Although, the arrival of AI agents is a different story.
Business Insider (Chart via StockCharts)
5. 27% of Cannabis Businesses are Profitable vs. 42% in 2022
Marijuana-industry research firm Whitney Economics said in a survey released last year that roughly 27% of cannabis businesses are profitable, down from 42% in 2022. Nearly a third are unprofitable, with the rest breaking even. Whitney estimates next year’s debt maturity at roughly $6 billion, based on both public and private multistate operators. Equity investors have noticed the glut. Cannabis investments by private-equity and venture-capital firms are at their lowest levels in years in both dollar values and deal counts. Last year, U.S. private-equity deals in the sector totaled $260 million, compared with $1.3 billion for all of 2018, deal tracker PitchBook said. Venture-capital deals were $410 million, compared with roughly $3.06 billion in 2019.
MJ Weed ETF -92% from Inception
WSJ (Chart via StockCharts)
6. Tesla Euro Market Share 1%
Barron’s
7. More Good Inflation News
Andreas Steno Larsen
8. U.S. Pending Home Sales Fall to All-Time Low…Below 2008 Crisis
3. Defensive Consumer Staples Breakout to New Highs
StockCharts
4. 20-Year Treasury Back to December 2024 Levels…10 Year Treasury Yield 4.20%
StockCharts
5. Data Center Favorites….Vertiv Almost Cut in Half from Post Election Highs
StockCharts
6. Solar Stocks New Lows…FSLR -50%
StockCharts
7. TAN Solar ETF -60% from Highs
StockCharts
8. Gas Prices Going Down Good for Inflation…Crude Oil Chart
StockCharts
9. China vs. U.S. Global Trading Partners
Barron’s
10. The Key Role of Temperature in Sleep Quality
Key points
A cooler bedroom supports deep sleep by aligning with the body’s natural temperature drop.
Ideal sleep temperatures range from 60°F to 67°F (15°C to 19°C) for optimal rest.
Overheating at night can reduce deep sleep and increase wakefulness.
Via Psychology Today: When it comes to achieving high-quality sleep, factors like light exposure and noise levels often come to mind. However, one of the most crucial yet often overlooked variables is temperature. Research suggests that the temperature of your sleeping environment significantly impacts sleep duration and efficiency and the ability to transition into deep sleep stages. Understanding the relationship between body temperature and sleep can help you optimize your bedroom conditions and improve overall sleep health.
How Temperature Affects Sleep
Our bodies follow a natural circadian rhythm that dictates fluctuations in core body temperature throughout the day. About two hours before bedtime, the body begins to cool down, signaling that it is time to sleep. This physiological process prepares the body for the onset of deep sleep, which is essential for cognitive function, memory consolidation, and overall well-being.
If your sleeping environment is too warm, it can disrupt this natural cooling process, leading to fragmented sleep and frequent awakenings. Conversely, a cooler room can support the body’s natural thermoregulation, making it easier to fall asleep and stay asleep.
The Science Behind the Ideal Sleep Temperature
While personal comfort levels vary, scientific research indicates that most people sleep in environments that are too warm for optimal rest. Studies suggest that an ideal bedroom temperature for sleep falls between 60°F and 67°F (15°C to 19°C), though some research recommends a slightly broader range of 68°F to 77°F (20°C to 25°C). One large-scale study involving over 34,000 participants found that sleep quality tends to decline as bedroom temperatures exceed 60°F (16°C). Global data also indicates that sleep efficiency drops significantly in temperatures above 50°F (10°C). These findings suggest that even mild increases in ambient temperature can negatively impact sleep duration and depth. In fact, in the largest study of billions of sleep measurements from people in 68 countries, it was found that higher nighttime temperatures across the world are specifically leading to more trouble falling asleep.
Why Warmer Temperatures Disrupt Sleep
When the bedroom is too warm, the body struggles to maintain its natural cooling cycle, leading to alterations in sleep cycles and impaired sleep quality. Two of the major mechanisms include:
Increased Wakefulness: Excessive warmth can lead to frequent awakenings throughout the night, preventing deep and restorative sleep.
Reduced Slow-Wave Sleep: The body requires a cooler environment to enter slow-wave sleep (SWS), the deep sleep phase crucial for brain health and memory consolidation.
How to Keep Your Bedroom Cool for Better Sleep
If you struggle with overheating at night, there are several strategies you can implement to create a cooler sleeping environment:
1. Adjust Your Bedroom Temperature
Keep the thermostat between 60°F and 67°F (15°C and 19°C) for optimal sleep conditions.
Use an air conditioner or a fan to promote air circulation and maintain a consistent temperature.
2. Improve Airflow
Open windows to allow fresh air to circulate, especially in cooler seasons.
Position a fan near your bed for a gentle cooling effect.
Use breathable curtains or blinds to block excessive heat from the sun during the day.
3. Choose Cooling Bedding Materials
Opt for lightweight, breathable fabrics such as cotton, linen, or bamboo for sheets and pillowcases.
Consider using a cooling mattress or mattress topper designed to regulate body temperature. A smaller but compelling study investigated how overnight temperature regulation influences sleep duration. The results showed that manipulating nighttime temperature could lead to more than 20 minutes of additional sleep per night.
Sleep with a thinner blanket or remove extra layers of bedding.
4. Wear Breathable Sleepwear
Avoid heavy or synthetic fabrics that trap heat; instead, opt for loose-fitting cotton or moisture-wicking sleepwear.
5. Optimize Your Nighttime Routine
While it may seem logical to take a cold shower before bed, doing so can be counterproductive. Cold exposure can activate the sympathetic nervous system, increasing alertness and making it harder to fall asleep.
Instead, taking a warm shower or bath about an hour before bedtime can promote better sleep. This practice helps the body to cool down naturally by dilating blood vessels, leading to a gradual temperature drop that enhances sleep onset and quality.
1. International Stocks: Possibly Off to a Good Start for the Year
Equity markets around the world are trouncing US stocks in early 2025, an ominous historical signal for how the rest of the year could shape up for US investors.
While the S&P 500 Index eclipsed most foreign markets in 2024, that dynamic has gone into reverse so far this year, as tariff worries and nascent economic concerns weigh on US equities. The US stock benchmark is up just over 1% this year, compared to the MSCI All Country World Index excluding the US, which has gained nearly 7% since January.
If history’s a guide, that could mean further relative weakness for US stocks in the months ahead. The S&P 500 has never outperformed global peers on an annual basis when it has trailed the international benchmark by more than 2.8 percentage points by mid-February, as it did this year, according to a Bloomberg Intelligence analysis studying 35 years of data.
The underperformance is “a rare and historically significant red flag against a full-year recovery as the market’s fundamentals deteriorate,” according to BI strategists Gina Martin Adams and Gillian Wolff, who conducted the analysis.
2. Europe Facing Massive Increase in Defense Spending…Rheimmetall Chart +100% Year to Date
StockCharts
3. NVDA Revenue +385% vs. Headcount +60%
Chartr
4. Uranium ETF 4th Pullback to these Levels in 18 Months
StockCharts
5. Collateralized Debt Obligations Forecast to Return to 2008 Levels
Wall Street expects to sell more than $335 billion in asset-backed debt this year. Remember that conference in ‘The Big Short’? It just drew a record 10,000.
WSJ
6. Private Equity Managers Apollo and Blackstone Pullback to 200-Days
StockCharts
7. Private Equity Secondary Funds Raise $100B
PitchBook
8. $416,000 for a Ferrari
In 2024, the estimated average cost of a Ferrari was more than $400,000. While that’s a pretty outrageous amount in isolation, it’s almost more impressive that Ferrari has been able to increase its prices by ~5% per year since 2012.
Formula: Cars & Spare Parts Revenue / Total Shipments
FinChat
9. The World’s Most Valuable Sports Teams
Semafor
10. ‘The largest crypto theft of all time’: Historic $1.4 billion Bybit Hack Shocks World of Digital Assets
Quick Take:
Bybit’s massive hack and loss of over $1.4 billion in crypto assets triggered various reactions.
Elliptic’s Chief Scientist called it “the largest crypto theft of all time, by some margin.”
Flashbots Strategy Lead Hasu said Bybit should be fine and expects the exchange “will make all customers whole.”
Via The Abnormal Returns blog: Bybit’s massive hack and loss of over $1.4 billion in crypto assets shook the world of digital assets on Friday, triggering multiple reactions.
“This makes it the largest crypto theft of all time, by some margin,” Elliptic co-founder and Chief Scientist Tom Robinson told The Block. “The next largest crypto theft would be the $611 million stolen from Poly Network in 2021. In fact it may even be the largest single theft of all time. We’ve labelled the thief’s addresses in our software, to help to prevent these funds from being cashed-out through other exchanges.”
On Friday, hackers appeared to steal more than $1.4 billion in ETH from Bybit’s cold wallet, the exchange confirmed. It seems the hacker tricked Bybit’s ETH cold wallet signers into approving a malicious transaction to gain control of the wallet surreptitiously.
The company’s CEO took to social media to reassure the public.
“Bybit is Solvent even if this hack loss is not recovered, all of clients assets are 1 to 1 backed, we can cover the loss,” Bybit CEO Ben Zhou posted to X.
Flashbots strategy lead Hasu also took to X to say that the hack would not lead to the demise of Bybit.
“If you want my serious take, Bybit has way more than 1.4 billion of revenue per year,” Hasu wrote. “They are good for the money and will make all customers whole. It doesn’t matter for ETH because Bybit will honor customers’s ETH liabilities and buy back the assets on open market.”
Nonetheless, the amount taken in the attack on Friday was astronomical, even by cryptocurrency standards.Start your day with the most influential events and analysis happening across the digital a
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Last May, the Japanese cryptocurrency exchange DMM Bitcoin suffered the largest crypto hack of 2024 when it lost over 4,500 BTC, valued at over $300 million at the time. FTX lost $477 million in 2022.
Binance founder and former CEO Changpeng Zhao, or CZ, offered assistance in reply to one of Bybit CEO’s many posts relaying information related to the hack. “Not an easy situation to deal with. Might suggest to halt all withdrawals for a bit as a standard security precaution. Will provide any assistance if needed.”
Meanwhile, Arkham Intelligence offered a bounty to track down whoever was responsible for the hack.
“We’ve created and funded a bounty to help identify the person or organization behind today’s [over] $1 billion Bybit hack,” the firm posted to X. “Submissions to this bounty will be shared with the Bybit team to support their investigation. Reward: 50,000 ARKM.”
“This Bybit hack really sucks,” trader Julius Stark posted to X. “As pro trader there isn’t a better trading platform with more accurate data and better UI. They are one of the good guys.”
Co-founder and CEO of Solana swap platform Titan told The Block: “The Bybit hack shows how important the human component of approving transactions is. If humans cannot easily inspect a proposed transaction in a multi-sig, people eventually approve anything that comes through.”
“Given the scale of the alleged exploit, this breach raises serious concerns regarding centralized exchange security and the evolving threat landscape in web3,” a CertiK spokesperson told The Block. CertiK is a digital assets auditing firm backed by Sequoia Capital, Tiger Global and Goldman Sachs.
