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1. U.S./Iran Permanent Peace Deal Odds

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2. Tech P/E Ratio Drawdown

The gap between tech’s price and forward PE drawdown is the widest its been in nearly 20 years of data.
This one shocked me.
Below you’re looking at the 52-week drawdown in the S&P 500 technology sector price (dark blue line) vs the 52-week drawdown in the forward PE (light blue line).

The lines typically move together. Makes sense, right? But look at the recent divergence.
The tech sector is currently in a 2% drawdown from 52-week highs, but the multiple is off a whopping 28%.
See the 26% spread in the bottom pane? That’s the largest spread I can find going back to 2007.
The only way tech is nearing an all time high with the forward multiple in a 28% drawdown is because the forward earnings are ripping higher.
That feels healthy to me.

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3. AI Companies Weight in S&P 45%

AI vs. SPX. "The weight of AI companies in S&P 500 is close to 45%".

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4. S&P 500 Historical Returns After a 10-Day Surge of 10% -Lance Roberts Real Investment Advice

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5. Polymarket launches trading of heavily leveraged ‘perps’ contracts

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6. 5-Year Chart S&P +81% vs. Weed ETF (MJ) -87%

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7. GLP-1 Survey -NY Times

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8. The Largest Armies in World

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9. Greenland Largest Island in World

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10. 20 Warren Buffett Lessons

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