Bidenomics: S&P 500 Just Crossed Above 5,600 For First Time Ever -- Market -- July 10, 2024

Locator: 48096INV.

****************

Disclaimer Briefly Reminder

• I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple. 
• See disclaimer. This is not an investment site. 
• Disclaimer: this is not an investment site. Do not make any investment, financial, job, career, travel, or relationship decisions based on what you read here or think you may have read here. All my posts are done quickly: there will be content and typographical errors. If anything on any of my posts is important to you, go to the source. If/when I find typographical / content errors, I will correct them.
• Reminder: I am inappropriately exuberant about the US economy and the US market, 
• I am also inappropriately exuberant about all things Apple.   
  

Breaking: Nancy Pelosi says Joe Biden should re-examine his decision to continue his campaign.

S&P 500: ten points from 5,600.

Basel III: wiki.

Basel III was published by the Basel Committee on Banking Supervision in November 2010, and was scheduled to be introduced from 2013 until 2015; however, implementation was extended repeatedly to 1 January 2022 and then again until 1 January 2023, in the wake of the COVID-19 pandemic.

It should be noted that US banks (and therefore, the US Congress) hate Basel III and are pushing to have it amended. In 2010, President Barack Obama, a globalist was president.

In 2017, Trump became president.

AAPL: tops $3.5 trillion, market cap.

• opens above $230 -- 20% ytd gain
• up almost one percent today
• up $1.60
• another upgrade: up to $260
• ad market: margins at 78%

Ad dollars, now going to:

• YouTube
• Amazon (this one is particularly interesting)
• Reddit

Magnificent 7. 

Link here.

Cramer:

• first ten days in July have been remarkable ... and it continues; several upgrades
• ASML: surging; up $14 in early morning trading
  
• Micron mentioned quickly in passing
• deflation: huge concerns for legacy companies that usually are great defense stocks
• exhibit A: Kellogg; Kellogg has been downgraded;
  
• prediction: some hyperscaler will eventually buy an LNG company
• Amazon buying Coterra -- needs to be fact-checked; David Faber mentioned it -- then a crawler 
• see this post, June 18, 2024;
  
• drinking game -- "hyperscaler"  -- in play -- less than a minute into Cramer's show - now mentioned it a second time; at the 38-minute marker, "hyperscaler" mentioned for the third time.
  
• big story: Tesla (does not interest me at all) 
• mentions Helen of Troy -- Cramer says those customers going to WMT and COST
• WMT doing more to lower inflation than JPow -- Cramer 
• Walmart is opening five automated distribution centers as it tries to keep its grocery dominance; link here;
  
• WMT and COST: really, really favored by Cramer among retail 
• my wife and I were at Costco yesterday to pick up some nori which she is unable to find anywhere else
• picked up a rotisserie chicken for $4.99
• I had forgotten how incredible those chickens are: 
• fresher than supermarket; definitely more moist; tastier
• fattier
  
• definitely larger
• and about half the price of supermarket rotisserie chicken
• still priced at $4.99
  

Jenny:

• link here.
• link here.

Personal investing:

• link here.
• discount brokers: I assume all the discount brokers are similar with regard to ease of use, so this is not a shout-out to Schwab -- but it's the only one I know
  
• I've never seen anything as good as Schwab for purposes of moving money around; as noted, I assume all the discount brokers are similar -- again, this is not a shout-out to Schwab -- but it's all I know
• in addition to ease of use, every financial vehicle available
• interest-bearing checking accounts to ETFs
  
• I have come to dislike the term, "discount broker" -- it suggests "Spirit Airlines" or "Ryan Airlines"
• can we start referring to Fidelity, Schwab, Robinhood as something else -- perhaps "mainstream, on-line, self-directed brokers" or MOLSDBs, pronounced "commission-free"
  
• top 11 "discount brokers," 2024; link here. 
• I don't know if they are listed in any particular order, but someone at Nerdwallet had to decide the order:

It should be noted, that among the "banks," JPM seems to be in a league of its own, and then it shows up in the table above -- notably Merrill Lynch / BofA is missing from that list.