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Key Investing Resource: Strategist Larry uses Interactive Brokers as his core brokerage. Feel free to check out IB. I currently park excess cash at Interactive Brokers. Check it out. It’s a great brokerage.
In our emails, we will provide the following coverage points:
Recent trading activity, specifically in ‘meme stocks’ have showcased the speculative euphoria in risky assets. Despite robust payroll data reducing hopes for interest-rate cuts, the S&P 500 and Nasdaq 100, showed resilience and continued to rise.
This market behavior, characterized by high bullish sentiment and low volatility, is likely being driven by investors' fear of missing out on further gains.
US job growth surged in May with nonfarm payrolls increasing by 272,000, surpassing expectations, and average hourly earnings rising by 0.4% MoM and 4.1% YoY, prompting traders to delay expectations of Federal Reserve interest-rate cuts.
The unemployment rate rose to 4%, its highest in over two years, as more people returned to the labor force but did not find work.
Chart That Caught Our Eye
Analyst Team Note:
US ETFs investing directly in Bitcoin have seen net inflows for an unprecedented 18 consecutive days, driving total assets to $62.3 billion and pushing Bitcoin towards record highs, trading around $70,925.
The SEC's grudging approval of spot-Bitcoin ETFs in January, following a court reversal, and the subsequent approval for Ether funds have further supported this growth.
Sentiment Check
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