Core Insights - Wayfair's business and stock have shown a significant recovery after being heavily impacted by the post-pandemic shift, with the stock price increasing by 339% since its low in April [5][6]. Company Performance - During the pandemic, Wayfair experienced a surge in e-commerce sales due to increased demand for home furnishings as consumers shifted to online shopping [2]. - After the pandemic, Wayfair faced challenges due to overinvestment and a decline in demand, resulting in revenue remaining flat and well below pandemic peaks [3]. - The company reported flat revenue of $2.7 billion in the first quarter, but adjusted earnings per share improved to $0.10 from a loss of $0.32 year-over-year [7]. - In the second quarter, Wayfair achieved a 6% revenue increase to $3.3 billion, surpassing estimates, with adjusted earnings per share rising from $0.47 to $0.87 [8]. Market Strategy - Wayfair is gaining market share and expanding into brick-and-mortar retail by opening large-scale stores, with plans for additional locations [9][10]. - The company opened a new store in the Chicago suburbs and has three more planned, including a significant 140,000 square foot store in Denver [10]. Industry Context - The home furnishings sector has faced challenges due to a sluggish housing market, which typically affects furniture purchases [12]. - Investors are optimistic that potential interest rate cuts from the Federal Reserve could stimulate a recovery in the housing market and benefit companies like Wayfair [12]. Valuation and Future Outlook - Despite recent momentum, Wayfair still has a long way to go to regain pre-pandemic growth rates, facing competition from major players like Amazon and IKEA [11]. - The stock is currently trading at a forward P/E above 40, raising concerns about its valuation without faster revenue growth [13]. - The potential for stronger growth exists if the housing market improves, but the current rally may have limitations [13].

Group 1 - First Majestic Silver Corp. (NYSE:AG) experienced a significant increase of 14.3 percent week-on-week, driven by investor interest in mining companies following favorable US inflation data [1][3] - The personal consumption expenditures index rose by 0.3 percent in August, leading to an annual headline inflation rate of 2.7 percent, slightly up from 2.6 percent in July, but within economists' expectations [2] - The positive inflation figures have bolstered expectations that the US central bank may continue to lower interest rates, which is beneficial for precious metals like silver and gold [3] Group 2 - The decline in interest rates is expected to weaken the US dollar, making precious metals more affordable for foreign investors, thus enhancing the attractiveness of First Majestic Silver Corp. [3] - First Majestic Silver Corp. reached its highest 52-week price of $12.67 during the week, although there was some profit-taking towards the end [3]

Core Insights - The Federal Reserve's anticipated shift towards lower interest rates in September 2025 is expected to benefit small-cap companies by reducing their borrowing costs and improving equity valuations [1][4][14] - The iShares Russell 2000 ETF (IWM), which tracks approximately 2,000 small-cap companies, has shown strong performance, surging 7% in August 2025 and reaching an all-time high in September 2025 [4][14] - The IWM's broad sector exposure, particularly in financials, healthcare, and industrials, offers diversification benefits compared to large-cap indices that are heavily weighted in technology [3][14] Interest Rate Impact - A 90% probability of a quarter-point interest rate cut in October 2025 is indicated by the CME FedWatch Tool, which is expected to disproportionately benefit smaller firms with higher growth potential [1][14] - Lower interest rates decrease the discount rate on future cash flows, enhancing the attractiveness of small-cap stocks [1] Market Dynamics - The annual reconstitution of the Russell 2000 Index, which will become semi-annual starting in 2026, allows for better responsiveness to market conditions and potential shifts towards small-cap stocks [2][14] - The IWM's performance has been narrowing the gap with the S&P 500 year-to-date, driven by macroeconomic shifts and undervaluation [4][14] Seasonal Trends - Historical data indicates that October and November are traditionally strong months for stock performance, with the Russell 2000 closing higher on November 25 than on September 30 in 13 of the past 15 years, reflecting an 87% occurrence rate [9][11][15] - Traders are encouraged to monitor seasonal patterns and consider them alongside technical and fundamental analysis for optimal market entry points [10][16] Trading Opportunities - Various trading assets are available for capitalizing on the IWM's performance, including the iShares Russell 2000 ETF (IWM), Vanguard Russell 2000 ETF (VTWO), and futures contracts [8][15] - The IWM's median market cap of less than $1 billion helps mitigate concentration risk, making it an attractive option for traders seeking broader market exposure [3][14]

Group 1: Dollar Index and Labor Market - The dollar index (DXY00) is down by -0.29% due to speculation of weak US labor market news prompting the Fed to continue cutting interest rates [1] - The upcoming risk of a US government shutdown is negatively impacting market sentiment towards the dollar [1] - The dollar recovered slightly after August pending home sales rose by +4.0% month-over-month, exceeding expectations of +0.4% [2] Group 2: Federal Reserve and Economic Indicators - The September Dallas Fed manufacturing activity survey unexpectedly fell by -6.9 to -8.7, weaker than expectations of an increase to -1.0 [3] - Cleveland Fed President Beth Hammack's hawkish comments suggest inflation will not return to the Fed's 2% objective until late 2027 or early 2028, indicating a need for a restrictive policy stance [3] - Markets are pricing in an 89% chance of a -25 basis point rate cut at the next FOMC meeting on October 28-29 [3] Group 3: Eurozone Economic Performance - The euro (EUR/USD) is up by +0.29% due to dollar weakness and supportive economic news from the Eurozone [4] - The Eurozone's September economic confidence index rose unexpectedly by +0.2 to 95.5, stronger than expectations of 95.3 [5] - ECB Governing Council member Makhlouf stated that the ECB is "near the bottom" of its rate-cutting cycle, indicating a potential end to rate cuts [6] Group 4: Japanese Yen and Bank of Japan - The USD/JPY is down by -0.62%, with a weaker dollar supporting the yen [7] - An upward revision to Japan's July leading index CI to a 4-month high is bullish for the yen [7] - Hawkish comments from BOJ board member Noguchi regarding the need for a BOJ interest rate hike have also contributed to the yen's strength [7]

Core Insights - Digital asset investment products experienced significant outflows of $812 million last week, driven by cooling investor sentiment amid changing expectations for U.S. monetary policy [1] - Year-to-date inflows remain strong at $39.6 billion, indicating resilient overall demand for digital assets despite recent pullbacks [2] Regional Analysis - The U.S. market faced the majority of outflows, totaling $1 billion, while other regions like Switzerland, Canada, and Germany showed positive inflows, with Switzerland leading at $126.8 million [3][4] - This regional divergence highlights that U.S. macroeconomic uncertainty is impacting institutional flows, but global demand for digital assets remains robust [4] Asset Performance - Bitcoin suffered the most, with outflows of $719 million, while Ethereum experienced $409 million in outflows, bringing its year-to-date inflows to a near halt [5][6] - The data indicates a softening of near-term investor sentiment for both Bitcoin and Ethereum as markets adjust expectations around monetary easing [6] Emerging Trends - Solana and XRP emerged as exceptions to the outflow trend, attracting inflows of $291 million and $93.1 million respectively, driven by anticipation of upcoming U.S. ETF launches [7] - Solana's inflows reflect growing confidence in its blockchain capabilities, while XRP's demand signals renewed institutional interest ahead of potential regulatory clarity in the U.S. [8]

Group 1: Market Performance - Wall Street's major equity averages ended in the green, with Electronic Arts (EA) surging over +14% after reports of advanced talks to go private in a roughly $50 billion deal [1] - Chip stocks rallied, with GlobalFoundries (GFS) climbing more than +8% and Intel (INTC) rising over +4% following news of potential U.S. policy requiring domestic chip manufacturing [1] - Paccar (PCAR) advanced more than +5% after President Trump announced a 25% tariff on heavy truck imports [1] - Costco Wholesale (COST) fell over -2% after reporting weaker-than-expected FQ4 U.S. comparable sales growth, making it the top percentage loser on the S&P 500 and Nasdaq 100 [1] Group 2: Economic Indicators - The core PCE price index rose +0.2% month-over-month and +2.9% year-over-year in August, aligning with expectations [5] - U.S. personal spending climbed +0.6% month-over-month, exceeding expectations of +0.5% [5] - Personal income rose +0.4% month-over-month, stronger than the expected +0.3% [5] - The University of Michigan's consumer sentiment index for September was unexpectedly revised lower to a 4-month low of 55.1, weaker than expectations of 55.5 [5] Group 3: Federal Reserve Insights - Richmond Fed President Tom Barkin noted limited risk of further deterioration in unemployment and inflation despite divergence from targets [7] - Fed Vice Chair for Supervision Michelle Bowman emphasized the need for decisive action to address labor market fragility [7] - Cleveland Fed President Beth Hammack stated the necessity of maintaining a restrictive monetary policy to achieve the 2% inflation target [7] Group 4: Upcoming Economic Data - The U.S. September Nonfarm Payrolls report is anticipated, with expectations of a "soft" report that could support further rate cuts [9] - Additional insights into the labor market will come from JOLTs Job Openings, ADP Nonfarm Employment Change, and Initial Jobless Claims [9][10] - Notable data releases include the Consumer Confidence Index, Chicago PMI, and various PMIs related to manufacturing and services [10] Group 5: Corporate Earnings and Market Movements - Several notable companies, including Nike (NKE), Carnival (CCL), and Paychex (PAYX), are set to release quarterly results this week [12] - Merus N.V. (MRUS) jumped over +38% in pre-market trading after Genmab agreed to acquire the company for $8 billion [20] - U.S.-listed cannabis-related companies saw significant gains in pre-market trading following President Trump's comments on hemp-derived cannabidiol [20]

Core Viewpoint - Consumer prices are increasing, reinforcing the expectation that the European Central Bank will refrain from further interest rate cuts [1] Group 1 - The rise in consumer prices indicates a strengthening economy, which may influence monetary policy decisions [1] - The European Central Bank's current stance suggests a cautious approach to interest rate adjustments in response to inflation trends [1]

Key TakeawaysGold and Silver futures in India have soared to new all-time highs, with international gold prices also reaching a record $3,793 an ounce driven by a soft dollar and rate-cut expectations.Geopolitical tensions are escalating as China reportedly expands its commercial ferry fleet for potential amphibious operations against Taiwan, while President Xi Jinping is expected to pressure former President Trump on the issue.Asian markets showed mixed movements, with some indices advancing as the dollar ...

Core Insights - The SPDR Portfolio S&P 500 High Dividend ETF is recommended for dividend-seeking investors due to its potential for passive income generation [1][4] - The current low-interest-rate environment makes dividends from stocks increasingly important for passive-income portfolios [2][3] ETF Overview - The SPDR Portfolio S&P 500 High Dividend ETF tracks the S&P 500 High Dividend Index, consisting of 80 high-yield stocks with equal weight assigned to each stock [6] - The ETF's largest sector allocation is in real estate at 22.4%, followed by consumer staples (16.7%), financials (15.5%), utilities (12.9%), and healthcare (8%) [6] Comparison with Other ETFs - In contrast, the SPDR S&P 500 ETF Trust has a significant allocation in information technology at 34.6%, with lower yields of 1.1% compared to the 4.7% yield of the SPDR Portfolio S&P 500 High Dividend ETF [7][8] Cost Efficiency - The SPDR Portfolio S&P 500 High Dividend ETF has a low expense ratio of 0.07%, which is lower than the average expense ratio of 0.14% for equity index ETFs in 2024 [9][10] Performance Metrics - Over the last five years, the SPDR Portfolio S&P 500 High Dividend ETF has returned an annualized 14.8%, slightly outperforming the S&P 500 ETF's 14.6% return, although it has higher volatility [11] - The ETF is expected to deliver strong returns and lower volatility in the current market environment due to its focus on dividend-paying stocks [12]

RT Anthony Pompliano 🌪 (@APompliano)Jordi Visser (@jvisserlabs) joins this week to discuss bitcoin outlook for rest of the year, interest rate cuts, how to evaluate AI acceleration, Nvidia’s $100 billion deal with OpenAI, and what metrics investors should keep an eye on.@JohnPompliano did a great job filling in for me while I was gone. Hopefully he doesn't replace me and rename the show!Enjoy the conversation.YouTube: https://t.co/qBuaS8klWUSpotify: https://t.co/KbdDxdWpiDApple: https://t.co/hirb4gZ28YTIMES ...