S&P 500's 21st best run through June since 1900 with record high home prices

Good Afternoon. Markets ended almost flat for the week. The Nasdaq composite closed with minor gains of 0.24%.

A 15% year-to-date total return in the S&P 500 is the 21st best run through June since 1900, according to Goldman Sachs. Read more

Investors enjoyed calmer markets and substantial returns in the first half of 2024. In the next half, volatility will increase closer to the presidential election; however, markets will mostly end the year with modest gains. Check curated insights for more details.

CNN's Fear & Greed Index stands at 44 (Fear) out of 100, an increase of 3 points from last week. Details here

The top five trending stocks on Reddit are Nvidia, Tesla, SPY, Nike, and DTE Energy. The full list is here.

According to the University of Michigan Surveys of Consumers, consumer sentiment remained steady in June, with only a 1% drop from May, as consumers anticipate a slowdown in inflation.

• Approximately 46% of consumers blamed high prices for eroding their living standards, just shy of the 47% seen last October. 

• Housing market conditions remain poor for buyers. Read more

Top U.S. banks hike dividends after sailing through Fed's stress test. Read more

US Treasury finalizes new crypto tax reporting rules. Read more

Wall St Week Ahead Jobs, inflation data may break the US Treasury market out of narrow range. Read more

Joe Biden stumbles against Trump in the first presidential debate. Read more

Nike's stock dropped after the company projected a larger-than-expected sales decline for 2025. Despite strong performance in previous quarters, the forecast has raised concerns among investors about the company's future growth prospects. Read more

Micron's shares fell after the company’s revenue forecast for the upcoming quarter failed to meet analysts' expectations. Read more

FedEx shares jumped as the company exceeded Wall Street's expectations in its Q4 2024 earnings, attributing its success to effective cost-cutting measures despite facing reduced shipping demand. Read more

Regarding the US housing market, laws of supply demand don’t seem to apply any longer. Home prices soared to record highs in May, even as existing home sales fell and supply of homes for sale jumped. Read more

Melius Research projects that Nvidia will generate $270 billion in cash over the next three years, potentially setting the stage for huge shareholder returns. Nvidia will have to eventually buy back more stock as all the money has nowhere else to go. Read more

Historical analysis from Bloomberg shows that markets will mostly record modest positive gains in the next half. Read more

A small group of stocks has powered the S&P 500 higher. S&P 500 valuation is more reasonable, excluding the

Magnificent 7 stocks.

The risks of sitting on cash right now are highlighted in the article below from Janus Handerson. Read more