For the second day in a row, all the stock market action is in the 10 minutes after the NYSE closes.

Today, the Alphabet and Microsoft beats pushed the S&P 500 up 50 points, or almost 1%, in the minutes after the NYSE closed (vertical red line).

On days that the Mag 7 stocks…

A yellow legal pad with 'Buy Bitcoin' scribbled on it - the type that will cost you $8.99 for a three-pack on Amazon — just sold for $1.027 million during an auction trib.al/uW0iboF

The last Atlanta Fed GDPnow was released today. 2.7% from 2.9%.

Street consensus is 2.5%.

Q1 GDP out tomorrow morning.

Initial claims tomorrow morning.
My estimate is 212K.
See the last 11 below.
(FYI - Wall Street is 215K)

While the NYSE closes at 4PM ET, and that is what is used as the official close, several electronic exchanges continue trading after hours.

This is a 1-day tick chart of the S&P 500. The red vertical line is the NYSE close,

You can see what IBM, Meta, and the rest of the…

Me on the Schwab Network talking about stocks, bonds, the economy, and bitcoin.

All our videos are here:
youtube.com/@BiancoResearch

The 10-year yield was 3.78% in late December. As this story notes, it hit 4.70% last week, almost a 100 basis point rise in four months.

The story asks if the 10-year yield can hit 5% as if this were a bold call. It's not.

Saying the 10-year will NOT hit 5%, or the yield rise…

“I fear that #bitcoin is trying to be an orange poker chip as opposed to being an alternative financial system,” says Jim Bianco on $BTC after the halving.

🗣️ “It’s just a levered $QQQ right now & it needs to break that cycle if it wants to achieve new asset class status.”

Degen-ing never has to stop!

ft.com/content/31c3a5…

I wrote this 3 years ago. Everything I predicted about the co-option of Bitcoin by Wall Street and Washington into Bitcoin!™️- from the Blackrock ETFs to the US Treasury tracking unhosted wallets - has come true.

epsilontheory.com/in-praise-of-b…

Big picture (top panel). No cumulative inflows for five weeks now.

Global Markets Investor Updated version