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Why bank stocks don’t need ‘rotation out of tech’ to keep rising after July jump

admin by admin
July 24, 2024
in Business
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Why bank stocks don’t need ‘rotation out of tech’ to keep rising after July jump
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Bank stocks are on a tear in July – and it’s a rally with legs beyond the recent rotation out of Big Tech stocks, according to Capital Economics.



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kobeissiletter The Kobeissi Letter @kobeissiletter ·
6h

BREAKING: OpenAI whistleblower Suchir Balaji has been found dead at age 26 in his San Francisco apartment.

Prior to his death, Balaji publicly accused OpenAI of violating US copyright law with ChatGPT.

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kobeissiletter The Kobeissi Letter @kobeissiletter ·
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BREAKING: MicroStrategy, $MSTR, is joining the Nasdaq 100 index.

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kobeissiletter The Kobeissi Letter @kobeissiletter ·
13 Dec

This is wild:

US Federal government spending hit a whopping $669 BILLION in November.

As a result, the 6-month average of government expenditures rose to ~$600 billion, near the highest since 2020-2021 when the most aggressive economic stimulus in history was conducted.

At the…

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kobeissiletter The Kobeissi Letter @kobeissiletter ·
13 Dec

The labor market is cracking:

New job postings on Indeed fell 38% year-over-year last week and now stand at the lowest level since August 2020.

Job postings have dropped for nearly 3 years straight and are now down 49% since the February 2022 peak.

As a result, new available…

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