1. OPEC cut to its Lowest Level of Production Since 1991

1. How Stocks Predict Presidential Elections

Posted  June 29, 2020  by Joshua M Brown

Ryan Detrick from LPL Financial made my Chart o’ the Day today…

1. 200 North American Exploration Companies Have Gone Bankrupt Since 2015

As oil and gas bankruptcies rise, S&P warns of coming shale producer downgrades–AuthorBill Holland

1. Nasdaq and Russell 2000 Spread Highest Since 2000

Bespoke Investment Group–Nasdaq – Russell Spread Pulling the Rubber Band Tight

The Nasdaq has been outperforming every other US-based equity index over the last year, and nowhere has the disparity been wider than with small caps.  The chart below compares the performance of the Nasdaq and Russell 2000 over the last 12 months.  While the performance disparity is wide now, through last summer, the two indices were tracking each other nearly step for step.  Then last fall, the Nasdaq started to steadily pull ahead before really separating itself in the bounce off the March lows. Just to illustrate how wide the gap between the two indices has become, over the last six months, the Nasdaq is up 11.9% compared to a decline of 15.8% for the Russell 2000.  That’s wide!

1. Money Supply and Inflation

Jack Ablin

Huge Increase in Money Supply But 5 Year CPI Hooking Down