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US Market Bubble Driven by Foreign Investment
5 articles I'm watching carefully
Tyler Dupont
December 03, 2024
Tyler Dupont  Good morning 👋 Here's the latest news I'm tracking today. |
📈 Stocks / Finance
Why the Stock Market Outperformed Expectations in 2024
The S&P 500 surged 27% in 2024, outperforming initial Wall Street forecasts of 8%. Key drivers included strong GDP growth at 3%, falling inflation nearing 2%, and Fed rate cuts totaling 75 basis points. AI stocks and diverse sector gains further boosted the market, with financials leading at 35%.
Nasdaq and S&P 500 Hit Record Highs as Tech Surges
The Nasdaq and S&P 500 closed at record highs on monday, driven by gains in major tech stocks like Apple, Tesla, and Meta. The S&P 500 is up 25% year-to-date, while the Nasdaq gained nearly 30%. Investors await November jobs data, which could impact expectations for Federal Reserve rate cuts.
Super Micro Shares Surge After Internal Review
Super Micro's shares surged 30% after an independent review found no board misconduct, addressing concerns raised by former auditor Ernst & Young. The Nvidia partner plans governance improvements, including appointing a new CFO, to meet Nasdaq listing requirements and prevent delisting.
🪙 Crypto
Altcoin Season Driven by Stablecoin Volume
CryptoQuant CEO Ki Young Ju asserts that altcoin seasons are now driven by trading volume against stablecoins rather than capital rotation from Bitcoin. Increased stablecoin liquidity signals more sustainable market growth, while institutional capital flows dominate Bitcoin, not retail.
🌎 Global Economy
US Market Bubble Driven by Foreign Investment
Ruchir Sharma warns that international investors are fueling an unprecedented bubble in US markets, driven by optimism about US growth. With US stocks now representing 70% of a key global index, Sharma notes that this concentration risks weakening foreign economies and their fundamentals.
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