#FAANG VERSUS #SP500
For when you hear: “Nobody saw it coming”
In 2017, there were only 12 days with >1% intraday move, the fewest in history.
— Charlie Bilello (@charliebilello) June 25, 2018
"Mama. The liquidity. It's receding." pic.twitter.com/L2Cv0uPYf7
— Dow (@mark_dow) June 25, 2018
nothing to see here pic.twitter.com/7PVvIxqWG1
— Alastair Williamson (@StockBoardAsset) June 25, 2018
The US #economy is approaching a late-cycle phase, when #growth slows and #inflation rises, but we’re not there yet. Typically, #earnings growth lags and profit margins decline but this hasn’t happened due to tax cuts. So it’s more like an “early-late” cycle.