🇺🇸 Now for Core CPI…

MoM core inflation came in at the consensus of 0.2%, up from 0.3% in June.

YoY was very slightly hot, registering a 3.1% instead of 3% even. This is up from 2.9% in June.

📊 CHART WATCH 📈

🇺🇸 Southern economics has been booming since the lockdowns…

It’s been the fastest growing region in terms of population & GDP, supplanting the West.

Real per capita income is up 80% since 1990 (in 2017 dollars).

📈 CHART WATCH 📈

🇺🇸 The Russell 2000 ETF had its 3rd best day of the year, rising 3%.

Hedge funds & other large speculators are even more short than they were 3 weeks ago (despite that healthy dip on the 1st).

Commercials are almost record long; you know how this ends. $IWM is still 7.35% off its all-time high.

📈 CHART WATCH 📈

🇺🇸 Wheat is back to 5 year lows, and corn is not far behind.

📈 CHART WATCH 📈

🇺🇸 The Magnificent 7 are pushing $20 trillion in collective market cap—a 34% share of the S&P 500.

Nvidia (up 264% since December 2023) leads with almost $4.5 trillion, while Tesla (35%) brings up the rear at just over $1 trillion. Apple’s only up 14% since then, but their market cap is third largest.

$NVDA $META $AMZN $GOOGL $MSFT $TSLA $AAPL

🔼 CHART WATCH 🔼