SOUNDING OFF

Reported: Elon Musk bought 2,568,732 shares at $371.38 – $396.54 worth nearly $1 billion. We cannot think of a larger dollar purchase from an insider but on a purchase versus net worth, not so big…but nevertheless, $1 billion aint chump change. The stock reacted.

The top 10 US stocks now account for 40% of the S&P 500’s market cap. Concentration and influence.

The US government has paid a record $1.2 trillion in interest the past 12 months. Not to roads, bridges, streets, the elderly, downtrodden, children…but interest.

So far this year, the government is running a $1.97 trillion deficit…so far…more to come. It certainly was a big bill but to be fair, a bunch coming from the last guy but also to be fair, there has been no attempt to stop the size of government by those in power right now.

The S&P 500 is trading at 3.3x sales, its highest valuation ever. Put this in your file manager.

The S&P 500’s price to peak earnings ratio is now 27.3, the highest level since 2000 and 59% above the average. Put this in your file manager.

Gold…dang! No respite.

The VIX was strong today even with the NASDAQ strong. Put this in your file manager as could be harbinger near term on a maybe sell the Powell news.

The top 6 companies now have a market cap bigger than the GDP of China at $20 trillion. Not a typo.

Our Giants. We so loathe seeing Jerry Jones with a smile on his face. Our Mets. What the heck happened?