Yesterday, on landmark deal announcements with Nokia and the U.S. Department of Energy, Nokia scooted up 5% bringing the S&P 500 index with it.
Good if you already own the stock.
Yesterday, also notched a less obvious record – its worst “breadth” day since 1990.
Despite “the market” closing higher, nearly 300 of the 500 S&P 500 stocks traded lower. (Source: Bespoke Investment Group)
A high concentration of capital in a few stocks at the top ranks high among the features we detailed in Anatomy of a Stock Market Bubble.
On days like yesterday, headlines urge investors to buy. However, they also underscore the fragility of this terrifying bull market: just a handful of names can make the difference between a big up day and a big down day.
~ Addison
P.S. The Nvidia deal with the U.S. Energy Department is another minor feature of the Trump administration’s new strategic economic initiatives.
Tomorrow on Grey Swan Live! we’ll explore the rise of Trump’s economic nationalism and what it means for U.S. military readiness in the years ahead. Joining us is John Robb — our go-to analyst on the geopolitics of Trump’s tariff strategy, the global networked intifada, and the evolution of drone warfare in Ukraine.
A former consultant to the Joint Chiefs of Staff, John brings firsthand insight into how autonomous weapons and AI are reshaping modern strategy.
With markets rallying on optimism over a U.S.–China trade deal, he’ll pinpoint the next global flashpoints — and the investment opportunities emerging as technology transforms the defense industry.
