Friday’s PCE report showed further improvement in inflation down to 2.75% compared to the year-ago rate of 4.76%. There has been a lot of commentary in recent months about a resurgence in inflation or a failure of the Fed to get to its target.

The 12 largest cannabis stocks spent May giving back most of their late-April gains; they are still up 24% YTD.

The Dow and the S&P 500 are actually diverging right now…Not only that, but there are significant rotations playing out right now, which we’ll get into. 

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Driven by soaring demand associated with artificial intelligence, electric vehicles, power infrastructure and automation, copper prices are up around 50% in four years.

All three have underperformed notably year-to-date, with each also carrying a negative earnings picture. Shares of each will likely continue to face near-term pressure.

The current expectation is that Q2 earnings for the S&P index will be up +8.7% from the same period last year on +4.6% higher revenues.

America is slowly approaching the precipice of debt default.

Novo Nordisk is based in Denmark and sells around the world. Its largest market is the U.S., at about 50% of sales.

In the U.S., year-over-year earnings growth for the S&P 500 Index is tracking around 11%.

MongoDB shares are now down over 50% versus YTD high.