Best Week For Bullion In 2024 As Mega-Caps Melt-Up On Bad Breadth

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from ZeroHedge:

Ok, so everyone knows, NVDA is awesome, topping $2 trillion in market cap intraday this week (after a $2BN hike above consensus)…

…but today saw a smidge of profit-taking…

MAG7 stocks were obviously up on the week (the sixth in the last seven), but today’s weakness took the basket back below its prior record high…

TRUTH LIVES on at https://sgtreport.tv/

Source: Bloomberg

There’s no way, right?

Source: Bloomberg

Small Caps ended the week down around 1% while the rest of the majors surged 1.5-2% on this holiday-shortened week…

And the best-performing sector of the week was… drum roll please… NOT tech. Consumer Staples were best, energy worst (but green), and Technology middle of the pack…

Source: Bloomberg

Bonds were bid to end the week with the long-end outperforming overall and the curve flattening around the 5Y…

Source: Bloomberg

The yield curve (2s30s) flattened bigly on the week to its most inverted since 2023…

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