•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Summary - S&P 500 achieved two new highs last week, extending the bull run to a potential seven-month streak and an 87.5% gain since October 2022. - Non-U.S. markets outperformed U.S. equities, with investors rotating from small caps and domestic stocks into large caps and foreign equities. - Precious metals, especially silver, led asset class returns, while Bitcoin and Consumer Staples lagged; Materials outperformed among equity sectors. - Momentum favored mega-cap growth, notably Nvidia, while Tesla and Bitcoin saw notable declines; AI-driven names remain central to market leadership. Last week we got two new market highs and 3 up days out of 4. Not bad for a holiday week. The usual suspects led the way higher (Mag 7, Large Caps, Growth) but there were some interesting crosscurrents going on
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
