Risk: The Sad State of Oil

The last, marginal barrel tells us everything we need to know about the next few months in the commodity markets.

Equity Storm Watch Is GREEN on the S&P 500 and GREEN on the Russell 2000

Something shifted in the market two days ago. We turned Green yesterday in the middle of the day - after a relentless capital inflow over the last few days. In the last week, 36 stocks in the S&P 500 have gained more than 7%...

Let’s just hypothetically say that they all gained 7% in a week (of course, NVIDIA is up almost 20% since last Friday). 

Under this hypothetical, that’d be an increase in combined market capitalization of $8.00 trillion in those 36 stocks to at least $8.56 trillion - or an increase of $560 billion.

Only two stocks were down 7% in the last week: Humana (HUM) and Moderna (MRNA). 

So - just back of the envelope - from my sleep-deprived brain, there’s at least over half a trillion in valuation increases in the last few days - driven largely by gains that started the week. Of course, the figure is much higher than this… I’m not staring at a Bloomberg Terminal this morning to get the exact calculatio…