🎙️ It Isn't Just Big Tech

[5 minutes to read] Plus: Telegram's CEO breaks his silence

By Matthew Gutierrez and Shawn O’Malley

The percent of stocks (82.2%) that have closed about their 200-day moving average is at its highest since September 2021, signaling that it’s not just Nvidia doing all the work.

That metric peaked in April 2021 before slowly falling into 2022. Generally, breadth deteriorates around a major market top. But its recent expansion confirms we might have more room to run higher.

💭 Meanwhile, markets shrugged off another above-expectations inflation report today. It’s the first time since the Fed began hiking interest rates that stock indexes rose after inflation came in hotter than anticipated.

More below.

— Matthew & Shawn

Here’s today’s rundown:

Today, we'll discuss the biggest stories in markets:

  • It isn’t just big tech driving market gains

  • Telegram’s CEO breaks his silence

This, and more, in just 5 minutes to read.

POP QUIZ

When was the last time inflation was at 2%? (Scroll to the bottom to find out!)

Chart of the Day

Preview from We Study Markets Pro

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