DC Lite #354

1. Challenger job cuts. "More firms are citing economic conditions as a rationale for layoff announcements ... At 47,497 in April this series is at its highest level since March 2023."

2. Jobless claims. "One week doesn't make a trend, but ... Jobless claims (for initial filings for benefits and continuing claims) both picked up in the most recent week in a way that's not normal given seasonal patterns."

3. Retail investors (I). While investors surveyed by AAII remain very bearish about the next 6 months…

4. Retail investors (II). …retail investors tracked by JPMorgan "net bought $40B in April, surpassing last month and setting a new record for the largest monthly inflow."

5. MAGMAN valuation. "MAGMAN NTM PE relative to the S&P 500 is at the lowest level since 2017."

ICYMI