Tale of the Tape
Good evening everyone and welcome to the penultimate August Friday for 2020.
Stocks closed higher today led by momentum darlings like Nvidia (+4%) and Tesla (+4%) as well as John Deere (+5%) which plowed through earnings (see more below).
The big story today though is Apple. This sh*t is getting biblical like Eve and Adam. 🐍🍎
The stock tacked on another 5% and, while it only passed the $2 Trillion market cap earlier this week, $AAPL is already 13% of the way from $2T to $3T.
Apple is now up 13 of 16 days since it announced the stock split while $TSLA is up 7 of 8 since it announced one. (HT: Jay Woods!)
In other news, we are still hanging by threads in a devolving entropic universe – so y’all might as well have a little fun this weekend 😉
Here are your weekly closing prices on the major equity indices.
Existing Home Sales grew 24.7% last July.
It’s hard to look at this figure and be surprised. Rates are at 0% and we have a deadly virus running amok. Those who can afford it are fleeing cities and moving to areas with less population density. Could this be panic buying???
Here’s what Stephen Stanley, chief economist at Amherst Pierpont Securities LLC had to say,
Housing demand is absolutely on fire. There are plenty of areas of the economy to worry about, but housing is most assuredly not one of them.
Chart via Bloomberg.
John Deere reported earnings this morning and the Big Green Tractor keeps on plowin’.
The company beat expectations and even raised guidance. Here’s how the numbers came out:
EPS: $2.57 vs. $1.25 est.
Revenue: $8.93B ▼ 11.1% YoY
$DE is now up 82% since its March 23rd low and check out the breakout of its 2 ½ year base. Sheesh.
Read the press release here.
NFL x Nike Training App
Nike and the NFL joined forces to create a free online training tool called 11-Online.
Individuals are able to get position-specific training advice from the top NFL pros and trainers.
Here’s what Carolina Panthers running back, Christian McCaffery had to say about 11-Online,
Nike’s 11 Online gives you unprecedented access to your favorite athlete’s training routines virtually so you can improve wherever you are.
Even if you’re not a football player this is a great tool to stay active. Hats off to all parties involved. 👏
Here’s CNBC with more.
New Music from Nas
King’s Disease dropped today.
Here’s Complex with more information on the album.
For Those About to Roll, We Salute You…
Lunaz Design, a British firm that preserves classic cars and electrifies them, has begun converting Rolls Royces into EVs.
This is ridiculous.
Lunaz is prepping to outfit 30 cars. Read more and see more insane pics at electrek.
Links That Don’t Suck
🧙♂️ When The Magic Happens
📈 Chart of the Week: JUST Companies Continue to Outperform Their Competition
🔥 Dustin Johnson goes crazy-low on front nine at TPC Boston, sets Northern Trust record
🏀 Behind the scenes at the weirdest NBA draft lottery ever
🚗 Visualized: How Much Revenue Automakers Generate Every Second
☀️ New Waves: The ESG Megatrend Meets Green Bonds