Mag 7 EPS growth expected to keep outpacing the Other 493 through Q4

41% of small-cap companies are unprofitable. But on a cap-weighted basis just 23% of the Russell 2000 is unprofitable.. so says Jeremy Schwartz at WisdomTree

SPX with an 18% return heading into September.. a bit lower now. A light 8% max drawdown.

Foreign-born folks have accounted for most of the US labor force's growth in the last 3+ years

Capex from AI hyperscalers is expected to tick higher this year

80% jump in global electricity demand from data centers and crypto 2022-2026(e)

State and local governments are managing their finances quite well

2024: the year of the bond-market bounceback

Total BoA card spending per h/h +2.8% y/y in wk ending Aug 31, "likely driven by the change in the timing of Labor Day compared to last year." Furniture saw the biggest increase w/w, entertainment the largest decline.

USA almost two-thirds of global equity market cap

Foreign stocks' relative P/E discount is now more than 2 standard deviations $VEU

Global EPS estimates are ticking decidedly higher.. even China! And China just 9.0x earnings...

The average stock $EQAL beating bonds $AGG by just 2.3ppt YTD

Share prices of recruiting firms suggest that job openings may have stabilized in August. From @soberlook dailyshotbrief.com

$TLT near the HoW heading into NFP

1-day $VIX spicy 22 heading into NFP day. Highest since Aug 7.

Errbody shopping $COST from home E-commerce +22.9% YoY in August

The Global Composite PMI Rose by 0.3pt in August to 52.8