1.The Buffet Indicator Up to Date Q1 2020.

The Latest Data-With the Q1 GDP Advance Estimate, we now have an updated look at the popular “Buffett Indicator” — the ratio of corporate equities to GDP. The current reading is 156.3%, up from 156.0% the previous quarter.

Advisor Perspectives

https://www.advisorperspectives.com/articles/2020/05/05/billionaire-sam-zell-sees-economy-permanently-scarred-by-pandemic

1.The Number of Companies Considered Multinational Has Expanded by 80% Since 1994

Lots of talk about de-globalization but tough to reverse

Capital Group Market Insights Where do stock markets go from here?– Joyce Gordon Jody Jonsson

https://www.capitalgroup.com/advisor/insights/articles/where-do-stock-markets-go-from-here.html

1.Sector ETF Changes Since 2/19 Highs.

Bespoke

This morning, we highlighted the recent performance of sector ETFs noting how Health Care has led the way higher rising the furthest above its 50-DMA.  Consumer Discretionary (XLY), Technology (XLK), Materials (XLB), Communication Services (XLC), and Consumer Staples (XLP) each had also risen above their 50-DMAs.  Given their outperformance, as shown in the table below, headed into today these were the sectors closest to their levels on the S&P 500’s last all time high on February 19th.  The Health Care ETF (XLV) actually headed into today less than 2% away from its 2/19 levels and XLP was also under 10% away.

https://www.bespokepremium.com/interactive/posts/think-big-blog/outperformers-underperform

1.USO FACTS..Remember Yesterday Top 10 had this Product Taking in Record Inflows.

USO-most investors do not know what they are buying.

From Cullen Roche on Twitter

https://twitter.com/humenm/status/1252851685656891392/photo/1

1.Record Oil Collapse…USO ETF See Record Inflows.

USO-Record $552m inflows on Friday….$1.6B for the week

www.stockcharts.com