Gavin Purcell

BREAKING: Hedge funds bought +$6.8 billion in US equities last week, the largest weekly purchase in 18 years. As a % of the S&P 500’s market cap, this was the 9th-largest weekly purchase since 2008. This follows +$4.8 billion in purchases the week prior, bringing the total to +$11.6 billion over the last 2 weeks, the largest 2-week purchase on record. This also pushes the 4-week average of hedge fund purchases up to +$1.8 billion. Meanwhile, institutional investors sold -$1.1 billion, posting their 2nd consecutive weekly sale. At the same time, retail investors sold -$4.1 billion, bringing their 4-week average of sales up to -$500 million. Hedge fund demand for US stocks is skyrocketing.

BREAKING: The S&P 500 surges above 7,800 for the first time in history, now worth a record $70.8 trillion.

BREAKING: The US Government officially posts its largest July budget deficit in history, at -$432 billion, due to an acceleration in federal spending. Interest on US debt rose +$26 billion from last July's levels to an alarming $118 billion for the month. This puts total interest expense for FY2026 up to $1.17 trillion in FY2026. As a result, interest expense has officially surpassed both National Defense and Medicare spending. In other words, the US government now spends more money just on interest than it does to fund the entire US Military or to provide healthcare for seniors. We cannot afford higher interest rates.

BREAKING: July PPI Inflation falls to 4.7%, below expectations of 4.9%. Core PPI Inflation fell to 4.2%, in-line with expectations of 4.2%. Month-over-month PPI inflation was flat, at 0.0%, the first such reading since June 2025. The odds of rate hikes are declining further.

BREAKING: Gold future surge above $4,500/oz for the first time since June 5th. This puts gold futures up +14% since July 17. The gold market knows exactly what is coming next.