2. Microstrategy Fourth Time in 2025 Hanging Around 200-Day Moving Average…Still Down -37% from 2024 Highs
StockCharts
3. Ethereum Fastest Asset to $500B in History
Milk Road
4. First Day Trading IPOs Best in 20 Years
Callie Cox
5. 1995-2000 1400 Technology Stock IPOs ….Less than 10% Survived
Perplexity
6. It is Official…More ETFs than Stocks 2025
Bloomberg
7. Oh Canada! Canadians Load Up on American Stocks
Dave Lutz Jones Trading Canadian investors have injected C$124 billion ($89.7 billion) into US stocks in 2025, even as Trump’s trade war disrupted the two countries’ longstanding, largely tariff-free relationship, according to data compiled by Warren Lovely at National Bank of Canada Financial Markets. That’s on track for the largest yearly inflow since at least the 1990s.
@Callum Thomas (Weekly S&P500 #ChartStorm)Seasonal Buybacks: Interesting snippet on seasonality — the next couple of months have historically been a seasonal dry patch for buybacks. And indeed, it’s Sep/Oct which have historically tended to see the worst seasonal stockmarket performance.
4. Reallocation Away from U.S. Stocks Already Reversing?
Barron’s
5. Global Investors Bought $163 Billion of U.S. Stocks in June
chartr
6. China Trade Surplus was $1 Trillion in 2024
Paul Krugman
7. Draftkings and Fanduel Performance “in football season” vs. “offseason”
Nasdaq Dorsey Wright
Nasdaq
8. Private Equity Exits Running at Half of Last Years Count
WSJ-Following a binge of acquiring companies during the post-Covid deal frenzy, it is generally proving harder to now sell those companies on. There have been some notable initial public offerings this year of private-equity-backed companies, such as the roughly $1.4 billion IPO for cybersecurity company SailPoint. But the overall number of exits in the second quarter—which also includes sales to other financial sponsors or to corporations—slowed to about 10% below the typical prepandemic quarterly average, according to PitchBook.
Investment Manager Sentiment: Similar thing in the Investment Manager survey; risk appetite and near-term market outlook have dropped back to quite pessimistic levels. The key causes for concern are valuations, politics, and macro. The only bright spot in the survey is earnings (which I also highlighted last week that indeed earnings look unequivocally good for now).
S&P Global
4. Chinese Small Cap Stocks ECNS +51% 2025
Yahoo! Finance
5. U.S. Small Cap IWM Outperforming S&P One Month…Needs $240 Handle to Break Above 2022 Levels
Yahoo! Finance
6. Home Depot Earnings …. Stock Trading Below 2024 Highs
StockCharts
7. Home Price Drops from 2022 Covid Highs
The 19 metros whose prices are down from their 2022 highs.
Led by these metros with percentage declines from their highs in 2022:
1. It’s All About Earnings—Revision Momentum Highest Since 2011
Bloomberg
2. It’s All About Earnings—Beats Going Up and Misses Going Down
Irrelevant Investor
3. AI and Crypto = Energy Usage
Utilities has been doing anything but lagging the broader market these days. As noted in last night’s Sector Snapshots report, the sector closed at overbought levels for the 27th day in a row yesterday.
Bespoke Investments
4. Allocation to Cryptocurrencies
Implied crypto allocations. “A mass adoption/speculation phase appears to be taking place as more and more investors make allocations into Bitcoin/crypto.”
Callum Thomas – Top Down Charts
5. JNJ Breaks Out of 5-Year Sideways Channel
Macrotrends
6. Will Business Eating Tariffs Change to Consumers?
Ryan Detrick
7. Container Ship Departures from China to U.S. are Collapsing
Container ship departures from China to the US are collapsing, see the first chart.
When consumers cannot get the products that they want from abroad, and the products that are imported are more expensive because of tariffs, the outcome is a slowdown in US consumer spending, see the second chart.
The bottom line is that US consumer spending is facing headwinds from tariffs, relatively high interest rates, student loan payments restarting and deportations lowering the number of consumers.
Torken Slok Appolo
8. U.S. Trade Deficit by Country
Capital Group
9. The Best Colleges for High Paying Finance Jobs
Visual Capitalist
10. Americans Moving Less
Semafor
Americans are moving between cities at historically low rates, with drastic consequences for the country’s economy and politics. Experts worry the lack of internal migration may put the country’s historic dynamism at risk: More people are keeping their homes, and their jobs, resulting in fewer opportunities for younger ones. Some smaller cities are trying to address the issue by offering bonuses to lure remote workers, hoping to help reverse a longrunning brain drain. The US was characterized by moves toward opportunity, but a recent book by the historian Yoni Appelbaum argues that “a country that once made it possible for its people to move freely and chase a better life has steadily strangled that mobility over time.”