1. Stock Buybacks Due for Seasonal Slowdown

@Callum Thomas (Weekly S&P500 #ChartStorm)Seasonal Buybacks: Interesting snippet on seasonality — the next couple of months have historically been a seasonal dry patch for buybacks. And indeed, it’s Sep/Oct which have historically tended to see the worst seasonal stockmarket performance.

2. First of Hot IPOs 2025-CoreWeave CRWV -50% from Highs

…

3. Retail Investors Buying 2 Handed—Professional Investors Flat

Retail vs. Pros flows. Retail flows are marching higher, Pros flows have been trending sideways.

…

4. Reallocation Away from U.S. Stocks Already Reversing?

…

5. Global Investors Bought $163 Billion of U.S. Stocks in June

…

6. China Trade Surplus was $1 Trillion in 2024

…

7. Draftkings and Fanduel Performance “in football season” vs. “offseason”

Nasdaq Dorsey Wright

8. Private Equity Exits Running at Half of Last Years Count

WSJ-Following a binge of acquiring companies during the post-Covid deal frenzy, it is generally proving harder to now sell those companies on. There have been some notable initial public offerings this year of private-equity-backed companies, such as the roughly $1.4 billion IPO for cybersecurity company SailPoint. But the overall number of exits in the second quarter—which also includes sales to other financial sponsors or to corporations—slowed to about 10% below the typical prepandemic quarterly average, according to PitchBook.

The private-equity industry globally had an “inventory” of over 30,000 companies through the first quarter of this year, according to PitchBook. At last year’s pace of exits, it would take about eight years to clear that inventory, PitchBook estimates. https://www.wsj.com/finance/investing/private-equity-firms-stocks-are-struggling-despite-getting-into-401-k-s-759ad08d?gaa_at=eafs&gaa_n=ASWzDAhIF3ZRuFiL04sUAndx3YBw69LpEqZrO91c2AULQmFpu1chbIM8hHhIe-1TJos%3D&gaa_ts=68a6112c&gaa_sig=xrBjsViyf_iloYpulhAWnqH8qBeE4uDjpo5ABinCXnCWU7iN7-KoCzusLp2Hk_FEDFSCmSFXWTL5Nkq9nTTzJA%3D%3D

9. Mortgage Debt at Lowest Levels Since the 1950s

Mortgage debt is now 28% of the U.S. housing market value. That’s the lowest level going back to the 1950s.

10. Student Loan Defaults Hit 10%

CNBC Kamaron McNair

…

Did someone forward this email to you? Get your own:

Disclosure

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.

Material for market review represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.
Material compiled by Lansing Street Advisors is based on publicly available data at the time of compilation. Lansing Street Advisors makes no warranties or representation of any kind relating to the accuracy, completeness or timeliness of the data and shall not have liability for any damages of any kind relating to the use such data.

To the extent that content includes references to securities, those references do not constitute an offer or solicitation to buy, sell or hold such security as information is provided for educational purposes only. Articles should not be considered investment advice and the information contain within should not be relied upon in assessing whether or not to invest in any securities or asset classes mentioned. Articles have been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Securities discussed may not be suitable for all investors. Please keep in mind that a company’s past financial performance, including the performance of its share price, does not guarantee future results.

Lansing Street Advisors is a registered investment adviser with the State of Pennsylvania.