00:00 Speaker A

Well, the S&P 500 Nasdaq have records back in sight amid trade talks between the US and China. For more on the trading takeaways, let’s get to Yahoo Finance’s very own Jared Blickry. Jared.

00:11 Jared Blickry

Thank you. We got to start with the Kahuna S&P 500 and 2%. What does that mean? It was not up 2% today, just a fraction of that. In fact, it is less than 2% away from its record highs and it’s up a little bit more than 2% year to date, and that’s not a big number, but where you consider, when you consider where it was coming from, those April lows, uh, that’s a far cry from it. So I’m going to do something a little bit scary here. I’m going to make all these numbers all these boxes turn to red, and there we go. This is how much they are off of their record highs. So the S&P 500 down 1.77%. What you’re going to notice is we got three sectors, communication services, tech, industrials that are off less than 1% from those highs. Communication services and tech, for instance, have not hit their records in quite a while. Here’s a year to date. Uh, you can see it’s right up against. So you can draw the line across, but didn’t quite hit it just yet. Industrials has hit a record high recently. And I just want to show you what’s happened over the last three days. We’ll put some percentage gains back in there. Uh, some a broad swath of sectors have done pretty well. Energy, discretionary services, uh, tech and healthcare. And when I take a look at some of our leaders here, you’re going to see some pretty big numbers. Ark Innovation Fund, that’s a lot of small caps plus Tesla, uh, Bitcoin, small oil, chip stocks, Mag 7, regional banks, gambling, transportation, the next row, biotech as well. All of those are up three days in a row. So I’m encouraged by this. We’re just not seeing it show up in some of the majors yet like the S&P 500.

02:59 Speaker A

All right, so maybe not the biggest index returns for the US. Where is the juice then, Jared?

03:05 Jared Blickry

Oh, good question. And that leads to point number two. Earth minus USA. So you kind of got to go abroad. And I think everybody’s heard about Germany and some of the other country ETFs that have done so well this year. And let me just put this up on a board. I was doing this in depth on catalyst earlier today, so I’m not going to spend too much time on it. And here is a year to date. So Poland up almost 50%, that’s EPOL, that’s a country ETF, 47.7%. Then we have Greece, and then we have EWP, that’s Spain. And uh, the list goes on. So all the way down the line, you had a lot of these countries breaking out to record highs, but also over the last two years, not all of those are at records by the way, but over the last two years we’ve also seen a lot of outperformance here. Spy is the US, and so spy is doing better than a couple of these including Japan and the UAE, uh, but take a look at Central Europe. Like Poland is just an incredible success story here.

04:57 Speaker A

Finally, let’s do a quick crypto check while I have you.

05:02 Jared Blickry

Got it. You bet. All right, so Bitcoin’s $2,000 a day rally, $2,000 a day rally. And so it dipped to 100,000, then it shot up to 110,000 in five days. And I’m going to show you the crypto board in a second, and it’s not just Bitcoin. I was kind of, uh, wow, look at that. 324%. Here we go. This is what happened in the last 24 hours and I’ll show you the last five days, which actually let me show you the last 10 days so you can see that big dip there all the way to 100,000. And here’s the 110,000. I was not complaining, but I was saying Ethereum was kind of stuck in a range here, but look at what Ethereum has done today. It’s up 6.8% and it has finally broken out of this big range here. Let me put a longer term chart, year to date. That should do it. Here, this is a four-week trend, sideways trend that we just broke out of. I was also saying and noting that we haven’t seen a lot of participation from some of the altcoins. So let me just show you the last three days here. It looks like they’re picking up too. Um, I don’t, I haven’t seen necessarily a big catalyst, but and I don’t know where the strength is coming from necessarily, and maybe it’s Bitcoin dragging some of these guys kicking and streaming, screaming, but when you have a broad base of strength like this and the altcoins, I’ve noticed that the Bitcoin rallies tend to go further. So we don’t have Bitcoin at record highs just yet, but if it breaks through and get broad participation, it’s just like the stock market, uh, just fuel for the up thrust.

07:47 Speaker A

Finally, what about those metal commodities that we talked so much about?

07:51 Jared Blickry

Yes, yes. So I have been focusing on gold, silver, and also copper. Here’s copper. Let me just show you what’s happening with palladium and maybe a five-day view is going to show better. Here we go. Palladium in or platinum, excuse me. Platinum futures is what I was looking for. This is a year to date, and you can see we were stuck at this level here, couldn’t bump up, then we got above it just recently in late May, and then we took off in June after using it as support. That is a text textbook breakout. And if I show you a 10-year chart, you can see, well, that’s a whole lot of sideways action too, but we’re right back up against these highs here. So we break beyond this, we’re seeing a breakout in platinum futures. I’ve been covering what’s happening in silver. Silver has also broken out to 12, 13 year highs, something like that. Um, this is a 10-year chart, and if I show you the max, you’re going to see we haven’t seen these prices since 2011, 2012. Gold still kind of trading in a range, but and copper hasn’t really caught up just yet, but overall the metals complex has been a source of strength. And you’re not even seeing that on the back of the dollar decline. The dollar has been kind of treading water here for a week or two weeks, so uh, that just means if the dollar were to sink even more, there would be more fuel for the rally.

09:37 Speaker A

Poland, Bitcoin, platinum. What didn’t we talk about, Jared?

09:43 Jared Blickry

Oh, there. Thank you, Jared. Appreciate it.

09:45 Speaker A

Yeah.