It’s August now, and the numbers are mildly seasonal. But there’s some surprising power – and not just technology. Speculative tech has been around for the past month, as many of Cathie Wood’s holdings have jumped off their June lows. Ark Innovation shares (as of July 1) Coinbase: up 108% Roblox: up 48% Block: up 39% Unity Software: up 35% Robinhood: up 29% Spotify: up 27%. sectors, especially transportation, where airlines are outperforming most markets. Transportation (as of July 1) Budget Avis: up 27% JB Hunt: up 19% American Airlines: up 18% Alaska Airlines: up 16% Delta Air Lines: up 16% Large, boring global companies boredom, which derives a lot of revenue from outside the United States, has also been strong. Industries (as of July 1) Ingersoll Rand: up 19% General Electric: up 18% Eaton: up 17% Johnson Controls: up 15% Illinois Tool Works: up 15% Autos and homes have recovered again, and not just Tesla (up 29% this quarter); Older carmakers are also doing better. Autos/Houses (as of July 1) Ford Motor: up 42% General Motors: up 18% Lennar: up 22% DR Horton: up 17% With Micron following Nvidia’s previous negative announcement, let’s Watch for continued signs of strength in these classics in deep cycles as an indication of consumer resistance to bets on strength.
Dow Jones rose when stocks struggled; New Cathie Wood Missile on this one; Bitcoin Falls Investor’s Daily Business