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A week of market churning (-1%... debt ceiling) but triumph of thematic investing (FAANG/AI +2.2%). Market breadth better than pundits argue as 142 stocks beating market (28%) YTD.

NEW: Section (above) added identifying Key Recommendations and Super Grannies

SKIP MONDAY <– Memorial Day Holiday


In case you missed our webinar "Super Granny" Shots this week

  • we discussed "Super Granny" shots that are expected to tactically gain near-term
  • and "Sleeping grannies" which we expect to tactically underperform


The S&P 500 is ending a tough week down 1%, as markets can never properly discount the binary outcome of a debt ceiling/default. As Tom Block, Head of Policy Strategy notes, getting a deal has many challenges and with a fast approaching "x date" (when funds depleted), financial markets are nervous.

But it has been a good week for FAANG/Technology (+2.2%) fueled by Nvidia's quarterly results. $NVDA has been a Fundstrat "Granny shot" since 2019, and arguably this week's FAANG/Tech gains are further evidence thematic investing is outperforming in 2023. The thematic driving FAANG/Tech is the seeming critical mass around AI/ChatGPT and at the heart of this is corporate America's need to boost worker productivity (post-pandemic) and contain wage pressures. The the...

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