* A strong green day on Wall St overnight that saw Dow closing...

* A strong green day on Wall St overnight that saw Dow closing at exactly 40k with breadth improving
https://x.com/unusual_whales/status/1811853094864527737
* Stronger PPI dampened Precious Metals but gold and silver stocks bucked the trend, closing mixed
* A mixed outing although it appears that market participants were focusing on badly beaten stocks for quick gains
* With markets imputing a 90% chance of a Fed rate cut in Sept, this is one rate cut the Fed needs to deliver to avoid a market correction at the period of time the market is most susceptible.
* IMO this is becoming a traders market for nimble traders that don't attempt for overstay and get too comfortable, and for stale bulls to sell their 'dogs' into strength if opportunity arises; may be the last window [ obviously my opinion only, everyone needs to make their own decisions - We Are the Choices We Make]

	Column 1	Column 2	Column 3
0	STOCK INDICES [US 12 Jul 24]	Overnight %
1	DOW	0.62%	40,000
2	S&P500	0.55%	5,615
3	NASDAQ	0.62%	18,396
4	DXY	-0.34%	104.08
5	US 2 YR	-0.05%	4.458
6	US 10 YR	-0.01%	4.187
7	AUD	0.38%	0.6784
8	GOLD	-0.18%	$   2,411
9	SILVER	-2.12%	$   30.79
10	BTC	0.97%	$    57,892
11
12
13	GOLD	Overnight %
14	GDX	0.21%
15	GDXJ	-0.38%
16	NEWMONT GOLDCORP(NEM)	0.72%
17	BARRICK GOLD (GOLD)	2.15%
18	AGNICO EAGLE MINES (AEM)	0.67%
19	SILVER
20	SIL	-0.03%
21	SILJ	-0.54%
22	PAN AMERICAN SILVER(PAAS)	-1.17%
23	LITHIUM
24	SPROTT LITHIUM MINERS (LITP)	2.19%
25	GLOBAL X LITHIUM (LIT)	1.37%
26	ALBEMARLE (ALB)	-0.08%
27	SOQUIMICH (SQM)	0.61%
28	LITHIUM AMERICAS (LAC)	1.85%
29	PIEDMONT LITHIUM (PLL)	2.68%
30	ARCADIUM LITHIUM	4.25%
31	PATRIOT BATTERY METALS	10.69%
32	COPPER
33	GLOBAL X COPPER MINERS(COPX)	1.48%
34	BHP	1.79%
35	RIO	0.64%
36	SOUTHERN COPPER (SCCO)	0.53%
37	FREEPORT MCMORAN (FCX)	-0.45%
38	FIRST QUANTUM MINERALS (FQVLF)	2.43%
39	TECK RESOURCES (TECK)	2.57%
40	OIL
41	XLE	0.25%
42	EXXON (XOM)	0.01%
43	CHEVRON )CVX)	0.21%
44	OCCIDENTAL (OXY)	-0.46%
45	CONOCOPHILLIPS (COP)	-0.75%
46	MARATHON OIL (MRO)	-0.56%
47	HALLIBURTON (HAL)	0.95%
48	COAL
49	RANGE GLOBAL COAL (COAL)	1.14%
50	PEABODY ENERGY (BTU)	1.05%
51	ALPHA METALLURGICAL (AMR)	2.16%
52	ARCH RESOURCES (ARCH)	1.56%
53	WARRIOR MET COAL (HCC)	3.03%
54	URANIUM
55	GLOBAL X URANIUM (URA)	-0.26%
56	NICKEL
57	SPROTT NICKEL MINERS (NIKL)	-0.30%
58	RARE EARTHS
59	OPTICA RARE EARTHS (CRIT)	0.36%

Small Caps Break-Out To Best Week In 8 Months; Bonds & Bullion Big Week On Bad Data

BY Zero Hedge
SATURDAY, JUL 13, 2024 - 06:00 AM
A bad data week...

Source: Bloomberg
...was good news for doves as rate-cut expectations soared...


Source: Bloomberg
...and despite yesterday's bloodbathery, all the US majors managed to rally into the green for the week early on today, with Small Caps literally exploding higher (up around 7% on the week!). A late-day selloff dragged Nasdaq red on the week though...

That was the Russell 2000's best week since November and broke it out to its highest since Jan 2022...

Source: Bloomberg
...and the biggest RTY/NDX outperformance week since Nov 2020...

Source: Bloomberg
Small Caps were aided by a massive short-squeeze this week which saw "most shorted" stocks soaring 10% - the biggest squeeze since Dec...

Source: Bloomberg
And while MAG7 stocks ended the week lower, it was only marginally, as today's bounce back erased some of yesterday's losses...but the late-day selling was predominantly among the mega-cap tech names...

Source: Bloomberg
And of course, after yesterday saw all 7 names ending red (for the first time since April), the rebound today was 'inevitable'...

Source: Bloomberg
0-DTE tracked stocks up and down today but the late-day selling pressure in stocks was NOT related to 0-DTE flow, in fact they bought the dip...

Source: SpotGamma
Stocks vs bonds this week... no idea!!!

Source: Bloomberg
Treasury yields tumbled on the week, led by the short-end...

Source: Bloomberg
...which prompted a dramatic bull steepening and almost un-inversion of the curve (2s30s)...

Source: Bloomberg
The dollar tumbled for the second straight week (the biggest two-week drop since December), erasing all of the gains seen since June payrolls...

Source: Bloomberg
Thanks in large part to USDJPY and BoJ 'help'...

Source: Bloomberg
Bitcoin managed gains on the week as ETF inflows dominated the German govt's dumpfest (as they emptied their coffers of every coin)...

Source: Bloomberg
BTC ETFs saw inflows for 5 straight days...

Source: Bloomberg
Gold surged back up near record highs this week, closing the week back above $2400...

Source: Bloomberg
Thanks to weakness today, crude prices ended the week lower as WTI rejected $83.50...

Source: Bloomberg
Finally, it was a big week for market moves but in the big picture equities remain in a universe of their own relative to global liquidity...

Source: Bloomberg
Are stocks expecting a massive liquidity fest?