INTELRUNNER
Of course that's ignoring U6 screaming higher and the labor force participation rate being seemingly unable to find a footing.
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As a matter of fact, we're reaching 2020 levels of dovishness...
We're definitely still risk-on for the moment...
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These 30,000-40,000 ton ships will carry a large quantity of missiles, including hypersonic missiles, and will also be outfitted with electromagnetic rail guns and directed energy lasers.
Trump-class battleships will also carry nuclear-armed sea launched cruise missiles (currently under development) adding an additional element of nuclear deterrence to the Navy. Trump-class destroyers appear to be designed as the center of enhanced command and control networks at sea, as the Navy looks to field more autonomous assets and traditional vessels in the coming years.
The WSJ has reported that the U.S. Navy will launch a vendor competition, with plans to procure the first hull in 2030.
$HII is up 91% YTD.
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This is the same level they bounced at in 2000 when Dotcom started bursting.
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The technology ($XLK), financial ($XLF), and industrial ($XLI) sectors saw at least 10% of their equities hitting 52-week highs.
Cyclicals are made up of Industrial Cyclicals, Consumer Cyclicals, Financials, Energy, and Materials
๏ปฟ
Defensives are composed of the Utilities, Real Estate, Healthcare, Telecom, and Consumer Staples sectors, plus restaurants.
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The last couple years have been a bit flat to down. Are we due for a real rally?
I suspect we'll either get the Santa Rally or we'll see a significant rally in January...
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In the very short-term, this calm makes way for the Santa Claus Rally. It also generates some cause for caution:
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The performance of largest metals markets has been strong year to dateโฆ
Platinum is leading, up 63%. Copper has gained 43%, silver 36%, and finally gold at 31%.
Platinum is leading, up 63%. Copper has gained 43%, silver 36%, and finally gold at 31%.
๐ The precious metals market has taken off (as anticipated) this year. Universal debasement, central banks purchasing en masse, and the Shanghai gold strategy are changing the game. Gone are the days of relentless suppression of the gold price by Western financiers and governments.
Gold is up 70.37% YTD. Silver is up a whopping 140.11%. Platinum just rocketed 150.28%. And palladium is up 121.52%.
If you index the four to the start of 2021, it's clear palladium is the laggard. It's the only precious metal that has not yet entered price discovery.
๐ฅ I N T E L R U N N E R ๐ฅ
Gold is up 70.37% YTD. Silver is up a whopping 140.11%. Platinum just rocketed 150.28%. And palladium is up 121.52%.
If you index the four to the start of 2021, it's clear palladium is the laggard. It's the only precious metal that has not yet entered price discovery.
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Novo Nordisk trades under the ADR $NVO, which is down 42% YoY. Compounded revenue growth has averaged 15% YoY over the last 4 quarters. Most of 2024-5 saw net margins between 33% and 39% as well as an industry-leading gross margin of 85%.
The January launch of the Wegovy pill will give $NVO a head start on the needle-averse marginal customer. Eli Lilly's ($LLY) orforglipron is still awaiting a green light, which is great for $NVO because $LLY chewed into their market share this year.
Orforglipron should get approval around March-April 2026, so $NVO will have at least the first quarter to try to make headway. After that, it'll probably come down to reimbursement terms and competitive negotiations with PBMs & government payers.
They may get approval for a higher-dose version (7.2mg) soon, and they also have early-stage GIP/GLP-1 co-agonist and once-weekly insulin products in the pipeline. They've laid off 9,000 employees and introduced new manufacturing lines in the U.S. & Europe.
$NVO is $51.61 at the moment. With their outstanding margins, their aggressive cost rationalization, and this opportunity to grab early market share in oral GLP-1s, their prospects seem strong. It could easily double, but it should rally to the mid-60s no problem.
This is in no way, shape, or form financial advice...
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Still sitting slightly better off than the last go around, but after a much deeper drawdown.
Rather than the stock market, we're looking at the path of the Dollarโthe U.S. Dollar Index or Dixie. So far, it's mirroring pretty closely, isn't it? This isn't just happenstance.
Trump is a tariff and stimulus man. Stimulus (supposedly) means economic growth and that the Fed is likely to tighten policy, buoying the Dollar. When the tariffs are introduced, the market takes a beating, directing more flows toward the Dollar for safety positioning.
Then come the actual tariffs, all the chaos that comes with their implementation, and the historic deficits, which all contribute to subsequent weakness in the Dollar. Then come the neocons he insists on unleashing, weaponizing the Dollar and delegitimizing American leadership in any way they know how. This drives more and more of the world to sell Dollars.
It's no surprise the charts look the same when the policies are re-heated 2017.
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Top Production By State
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Christmas decoration-related ER visits peak in the two weekends following Thanksgiving...
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The biggest threat to toddlers is ingestion followed by chewing & swallowing. Essentially anything to do with their favorite orifice will risk holiday ER festivities.
When it comes to adults, it's all about the ladder, which is the greatest nemesis of fathers with Christmas spirit. "Hang" is a distant second.
I N T E L R U N N E R
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Stanford University's AI Vibrancy Tool distills several metrics, from research output to talent attraction into a single view of how developed and competitive a country's AI ecosystem is. It's a snapshot of where innovation and talent is growing, and where governments are putting real weight behind AI.
The top three is clear:
The USA also leads in 5 of 7 metrics.
High-income countries dominate the top ranks, reflecting deep investments in R&D, robust university systems and mature digital infrastructure. India is the only lower-middle-income country to break into the top 30, a sign of its expanding research base and large technical workforce. Brazil, China and Malaysia represent the upper-middle tier, each building out their Al capabilities with state-backed initiatives and growing private-sector activity.
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Question: What is your opinion of the following movie? [Only adults who've seen the film]
The most loved films:
There's a committed 5% that really hate these movies. The most hated movie was Elf, followed by The Polar Express and Red One (whatever that is).
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