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July Seasonality S&P

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2. Nasaq Hit Intra-Day Highs…History if Bullish
Nasdaq Dorsey Wright During Wednesday’s market action, the Invesco QQQ Trust (QQQ) hit a new all-time high intraday. It has been 126 days since QQQ hit a new all-time high during intraday action. This is the longest streak of days without a new all-time high since the period between November 22, 2021, and December 19, 2023. There have been six other instances since 1993 in which QQQ (or the Nasdaq-100 Index) took longer than 125 days to reach a new all-time high intraday. After breaking a dry spell that long, the forward returns for the Nasdaq-100 are overwhelmingly positive, especially on longer time frames. The average 1-year forward return is 28.44% while the median 1-year forward returns are slightly lower at 27.86%. This recent 126-day period between new intraday all-time highs is by no means the longest. The Nasdaq-100 took 16 years to make a new all-time high from March 24, 2000 until December 13, 2016 (6,108 calendar days for those counting).
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5. US and China Agree Trade Deal
The US and China have signed a deal to end their trade war, according to US President Donald Trump. The world’s two biggest economies had battered each other with a series of economic measures in recent months, notably harsh US tariffs on imports and Chinese export controls on rare earths. Trump and his Commerce Secretary Howard Lutnick both said that an agreement was signed this week, although neither provided details. The trade war has hurt both countries: The US economy shrank at an annualized 0.5% rate in the first quarter, while Chinese manufacturers, notably automakers, have seen profits slump, The Hill reported. Lutnick said a further 10 deals with other major trading partners would follow: “We’re going to have deal after deal.”
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6. Space-Tech Venture Hitting New Highs
Pitchbook-Global VC funding for space-tech startups is set to reach new heights this year, but investor bets are becoming more concentrated as the vertical matures.
According to PitchBook data, VC investment in space tech has already reached $5.9 billion this year, which puts 2025 on course to exceed 2021’s record. However, the deal count could land below last year’s level, with most capital going toward mature startups.
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8. Green Street Commercial Real Estate Property Index

Charlie Bilello
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9. Heart Attacks Are Down Nearly 90% Since 1970, Yet Heart Disease Has Become A More Complex Killer — Here’s How
Reviewed by Sophia Naughton. Research led by Latha Palaniappan and Sara King (Stanford University)
Heart attacks are no longer the leading cause of death from heart disease.
In a nutshell
Heart attack deaths have dropped by 89% since 1970, thanks to major medical advances, public health efforts, and better emergency care.
Other heart conditions like heart failure, arrhythmias, and high blood pressure-related disease have sharply increased, now accounting for nearly half of all heart disease deaths.
As Americans live longer, surviving heart attacks often leads to chronic heart problems, highlighting the growing need to manage long-term cardiovascular health, not just prevent heart attacks.
Via StudyFinds— Deaths from heart attacks have plummeted by an astounding 89% since 1970, even after accounting for the aging population. However, Americans are now dying from completely different heart problems at alarming rates. A new study from Stanford University reveals that the nature of heart disease mortality has transformed over the past five decades, with conditions like heart failure, irregular heartbeats, and high blood pressure-related heart disease now killing far more people than ever before.
Back in 1970, when your grandparents were young adults, 91% of all heart disease deaths came from what doctors call “ischemic” heart disease. This includes heart attacks and related conditions caused by blocked arteries. Fast-forward to 2022, and that number has dropped to just 53%. Meanwhile, deaths from other heart conditions have skyrocketed by 81% overall.
The data, published in the Journal of the American Heart Association, analyzed over 37 million heart disease deaths spanning more than half a century. Researchers discovered that acute heart attack deaths fell from 354 per 100,000 people in 1970 to just 40 per 100,000 in 2022.
Why Heart Attack Deaths Plummeted
Starting in the 1960s, a cascade of medical breakthroughs began saving heart attack victims. Emergency responders learned CPR, hospitals created specialized cardiac care units, and doctors developed techniques to open blocked arteries. The 1970s brought coronary angiography (mapping the heart’s blood vessels), followed by balloon angioplasty in 1977, which could physically open blocked arteries.
More people survive their first cardiac events thanks to modern medicine.
The 1980s and 1990s saw the introduction of clot-busting drugs, aspirin therapy, coronary stents, and powerful cholesterol-lowering medications called statins. Each advancement chipped away at heart attack mortality rates. By the 2000s, doctors had established the critical “door-to-balloon” protocols that ensure heart attack patients get life-saving treatment within 90 minutes of arriving at the hospital.
Meanwhile, public health campaigns were transforming American behavior. Smoking rates plummeted from about 40% in 1970 to 14% in 2019, thanks to everything from the landmark 1964 Surgeon General’s report linking cigarettes to heart disease to smoke-free policies and tobacco taxes. Doctors also got more aggressive about treating high blood pressure and cholesterol, with treatment guidelines becoming increasingly strict over the decades.
The Unintended Consequences of Success
Deaths from heart failure increased by 146%, deaths from high blood pressure-related heart disease jumped 106%, and deaths from dangerous heart rhythm problems exploded by a staggering 450%
Life expectancy increased from 70.9 years in 1970 to 77.5 years in 2022. As more Americans survived their initial cardiac events and lived longer overall, they accumulated more time for other heart problems to develop.
Heart disease comes with a lifelong journey. (Credit: New Africa/Shutterstock)
In 1970, if you had a massive heart attack, you probably died. Today, thanks to many advances in medicine, you’ll likely survive that heart attack. But you might spend the next 20 years dealing with a weakened heart that eventually develops heart failure or dangerous rhythm problems.
Modern Health Challenges Add Fuel to the Fire
Rising rates of obesity, diabetes, and high blood pressure haven’t helped. Obesity rates have nearly tripled since the 1970s, jumping from 15% to 40% of the adult population. Diabetes now affects an estimated 50% of American adults, when you include pre-diabetes. These conditions are also major drivers of heart failure and other cardiovascular problems.
Researchers also point to improved diagnostic capabilities as a factor. Doctors today are much better at identifying conditions like heart failure with preserved ejection fraction (where the heart squeezes normally but doesn’t fill properly) and pulmonary hypertension (high blood pressure in the lungs).
Every life saved from a heart attack is a victory, but many of those survivors will eventually face years of living with weakened hearts, requiring ongoing medical care, and ultimately dying from complications like heart failure or dangerous heart rhythms. Today, the keys to maintaining heart health throughout a longer lifespan include managing conditions like diabetes and high blood pressure that contribute to various forms of heart disease, and recognizing that surviving a cardiac event is just the beginning of a longer journey with heart health.
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10. It’s a Great Time to Be Alive-Daily Stoic
Corruption. Dysfunction. Wildfires. Measles. War in the Middle East. In Ukraine. Political chaos. Economic instability
Could it get any worse? Yes, yes it could.
You could be alive in Cato’s time—amidst ‘the dregs of Romulus’ as Cicero would put it. You could be living through the decline and fall, as Marcus Aurelius did. You could have watched Rome burn, as Seneca literally did. You could be alive when everyone had measles…and tuberculosis and typhus and malaria and yellow fever and God knows what else. Just a few generations ago, the whole world went to war! Millions of people died in trenches and of disease and then starvation. And then you know what happened? Twenty-one years later, they decided to do it again, but worse!
Look around, look around, how lucky we are to be alive right now, as the Hamilton song goes. Right now instead of then. Instead of any other time. For all the stupidity, for all the disasters, for all the noise and uncertainty, this is actually one of the least bad moments to ever exist.
But you know what the Stoics would also point out? It wouldn’t matter either way because this is when you exist. You don’t get to pick. You don’t get a say.
This moment is your moment. This brief period is your time on earth. The only thing you have a say over is how you spend it, who you are inside it. You make your own luck in that sense. So don’t curse these crazy times. Make something of them. While you still can.
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Indices that may be included herein are unmanaged indices and one cannot directly invest in an index. Index returns do not reflect the impact of any management fees, transaction costs or expenses. The index information included herein is for illustrative purposes only.
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