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
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
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.
10. Tyson Announced It Will Remove Crap from Food
