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Today’s Animal Spirits is brought to you by Nuveen:
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On today’s show, we discuss:
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GS: The momentum factor had one of the largest 3-week sell-offs on record pic.twitter.com/Vt3dgFuLpE
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) July 13, 2026
(1) Today we’re releasing Muse Spark 1.1 — a strong agentic and coding model at a very low price. It’s available through our new Meta Model API and in Meta AI.
— Mark Zuckerberg (@finkd) July 9, 2026
The S&P 500 Ex-Technology Index closed the week at new all-time highs.$SPXT pic.twitter.com/byaDJDGX5U
— Alfonso De Pablos, CMT (@AlfCharts) July 13, 2026
The Advance-Decline Lines for the S&P 500, S&P 400, and S&P 600 have all pushed to fresh all-time highs.
Take a look at the chart 👇 pic.twitter.com/45Ypr8Sgsm
— Alfonso De Pablos, CMT (@AlfCharts) July 13, 2026
Amazing chart from today’s episode:
It’s not just that US household exposure to equities is at a record high, but that the stock market is a SIGNIFICANTLY greater component of total household net worth than real estate now, which blows my mind.
The stock market is the economy. https://t.co/sGRmUI6yQo pic.twitter.com/OdCFr5nOKd
— Joe Weisenthal (@TheStalwart) July 10, 2026
I published a note today that I’ve been thinking about for months.. About how the US stock market has arguably become too big and too imp to fail.. It’s basically America’s retirement fund now and poss even the savior of social security which is expected to run out of money in… pic.twitter.com/LeKW4IXL7X
— Eric Balchunas (@EricBalchunas) July 7, 2026
Don’t “K”all it a comeback… In June, higher-income households’ after-tax wage growth eased to 4.2% YoY, while that of the lower-income cohort improved to a similar level pic.twitter.com/Y6i2hd5fvT
— Mike Zaccardi, CFA, CMT 🍖 (@MikeZaccardi) July 10, 2026
so far at least, i’m pretty sure AI has been net job-creating.
this was not what i expected–although i was much less pessimistic than others, i thought by this level of capability we’d have seen some impact.
it is possible this direction keeps going!
— Sam Altman (@sama) July 11, 2026
If you look at a chart of the YoY growth in professional and business services jobs it looks a lot more like “Pandemic overhiring bullwhip/normalization” than anything related to AI: pic.twitter.com/95VZIkxwz4
— Conor Sen (@conorsen) July 11, 2026
Netflix’s live-action Avatar lost 59% of its audience between seasons. Beef lost 58%. A Good Girl’s Guide to Murder lost 80%. HBO’s The Last of Us went off the air for two years and came back with more viewers than it had before.
Same long wait between seasons, opposite result.… https://t.co/EShtI0XZFn
— Anish Moonka (@anishmoonka) July 6, 2026
In this year’s @Gallup survey, 11% of U.S. adults currently take GLP-1 medications for weight loss purposes, up significantly from 3% in 2024. 15% report having used the medicine for weight loss at some point, an increase of 9 percentage points pic.twitter.com/6yo5QgUmt5
— Kevin Gordon (@KevRGordon) July 12, 2026
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