THE BIG FIVE

ByGary Kaltbaum July 29, 2025

Market losing some steam? At the very least, some things are.

But some massively good earnings reactions.

But some massively bad earnings reactions.

Oil spikes…the Russia thing? We do not want that to stick.

AI semis came in a bit off highs today but remain strong…very strong.

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), a registered investment advisor with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.

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