It was a much better session than I assumed when I woke up yesterday. President Trump made positive comments about the end of the Iran Conflict, and that did the trick. But the reaction wasn’t a sigh of relief; it was a race to find post-conflict winners. Well-heeled consumers are flying first class and cruising.

Strong Session

Yesterday, all the major indices rallied, as the ten-year yield eased by 2.0%, and West Texas Intermediate (WTI) eased by almost 5.0%.

Safe haven sectors stumbled while everything else rallied, with a sheet of green across all factors.

See The World: SpaceX Is Ready For Its Closeup

See the pyramids along the Nile

Watch the sunrise on a tropic isle

Just remember, darlin,’ all the while

You belong to me

 

See the market place in Old Algiers

Send me photographs and souvenirs

Just remember when a dream appears

You belong to me

- Patsy Cline

 

SpaceX posted its S-1 filing, and many thoughts ran through my mind as I skimmed through it. I thought about the vast adventures here on Earth, like the old Patsy Cline song, “You Belong to Me.”

But I also thought about the love affair people have had with eventually traveling and facing adventure beyond Earth in space. It's been a fantasy, written in novels, told through mythology, and seen in art.

 And told countless times in comic books.

It was on January 22, 1930, that Buck Rogers first ventured into space aboard a rocket ship in his fifth newspaper comic story Tiger Men from Mars. This popular phenomenon paralleled the development of space technology in the 20th century and introduced Americans to outer space as a familiar environment for swashbuckling adventure. -Wikipedia

SpaceX says its total addressable market is $28.5 trillion!  It's amazing stuff, and will stoke investor excitement for years, perhaps for decades to come.

And for everyone else – we’re going to Mars.

 

Today’s Session

Great results from Nvidia (NVDA), but not moving the needle in the right direction.  It's become part of the course, and the only thing I can think of is that the growth rate isn't the same, but the absolute numbers are astonishing.

The stock is only fractionally, but there was great hope that this time it would pop.

It is also getting overshadowed big time by the SpaceX IPO frenzy.

Nvidia (NVDA) is doing fine, but all the action is elsewhere in the AI buildout phase.

Economic Data

Initial Jobless Claims continue to slide, and continuing claims are now beating a fast retreat.

Philly Fed Manufacturing Report

The Philly Fed report missed consensus, but there is good news. Future business activity is surging and now at multiyear highs.

Also, prices paid and received moved lower – we need a lot more of this.

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