💵Investors Flock Overseas as US Stocks Hit Record Highs🎯

Happy Thursday, Bullseye Traders! 

Stonks only go up, or so the saying goes. Yet, while the US market has often resembled a rocket on a steady ascent, global stocks have felt more like passengers on a roller coaster ride, tossed about and left in the dust by their American counterparts. However, as US stocks soar to unprecedented heights, analysts are starting to cast their gaze beyond domestic borders, contemplating whether there might be treasure troves of opportunity elsewhere.

In a recent global market rendezvous, European, Japanese, and Indian markets have all reached dizzying all-time highs, with even the once-overlooked Chinese and Russian stocks clamoring for attention. Previously, fears of inflation, geopolitical turmoil, and electoral uncertainties had shrouded international investments in caution. Yet, with many foreign markets flashing lower valuations than their American counterparts, investors are now embarking on a transcontinental treasure hunt, seeking bargains abroad.

According to the World PE Ratio, only three stock markets—Nigeria, New Zealand, and India—wear a loftier price tag than their American counterparts, currently boasting a princely price-to-earnings (P/E) ratio of 23.6x. Meanwhile, Chinese (9.4x P/E), Mexican (13.1x), and European markets (14x) are serving up discounts not seen since the bargain bins of yesteryears.

Seizing the opportunity to ride the international wave, the Bank of America's March fund manager survey suggests that institutional investors are tilting towards underweighting Eurozone and emerging market stocks. Yet, with a newfound appetite for risk, they may soon find themselves indulging in a global buffet of investment opportunities.

For those seeking a passport to global diversification, options abound. The Vanguard FTSE Emerging Markets ETF ($VWO) or the Vanguard FTSE Developed Markets ETF ($VEA) offer broad exposure across multiple countries. Alternatively, for those with a particular country in mind, market-specific funds like the Vanguard FTSE Europe ETF ($VGK) with its Europe's Mag7 ensemble, or the Franklin FTSE South Korea ETF ($FLKR) for a taste of South Korean stocks, could provide a more tailored approach.

But, dear investors, tread cautiously in these foreign lands. While the allure of international growth beckons, the path may not always be paved with gold. Morningstar reminds us that US stocks have outshone their global peers in eight out of the past ten years, casting shadows of doubt over the long-term prospects of international investments. Moreover, the tightening embrace between US and non-US markets, especially in regions like the EU and UK heavily reliant on American consumer appetites, might dampen the diversification dreams of the hopeful global wanderer.

So, as you pack your investment bags and set sail for foreign shores, remember: while the grass may seem greener on the other side, it's wise to carry a bit of skepticism along for the journey.

SHAKERS AND MOVERS

Ulta Beauty, Dave & Buster’s, and Ford strutted onto the stock market stage with varying performances – some turning heads, others causing a few raised eyebrows.

ULTA (-15%): Ulta's CEO waltzed into a JPMorgan conference, but instead of makeup, they brought news of a slowdown across all price points and segments, leaving investors feeling less than glamorous (Investing.com).

PLAY (+10%): Dave & Buster's took a bold leap, dazzling investors with their EBITDA performance, boosting stock buybacks, and painting a rosy outlook, proving that sometimes the game is all about exceeding expectations (Investopedia).

F (+3%): Ford revved its engines as its stock raced ahead, fueled by robust US sales in the first quarter, especially in the electric and hybrid models, leaving competitors eating dust (Barron’s).

CALM (+4%): Egg producer Cal-Maine cracked open impressive results for its first quarter, whisking up $703 million in revenue and $3 in earnings per share, proving that in the world of stocks, it's not always about putting all your eggs in one basket (TradingView).

WOLF (-2%): Shares of semiconductor company Wolfspeed howled as they slipped down the stock market mountain, courtesy of a downgrade from Wells Fargo, stirring up worries in the EV market, reminding investors that even wolves have their off days (Seeking Alpha).

STREET SCOOPS: The Buzz Around Town

CNBC: Atlanta Fed President Bostic tiptoes the rate-cut dance, envisioning a lone cut in the fourth quarter, but keeps side-eyeing inflation like it's a sneaky toddler with a cookie jar.

CME: Traders are casting their bets with the confidence of a magician pulling off a vanishing act, seeing a 99% chance of no rate changes in May, but still juggling a 62.5% likelihood of a June rate cut.

WSJ: Bob Iger of Disney puts the "defeat" in "definitely not today" as he sends activist investor Nelson Peltz packing, leaving him to ponder his boardroom dreams like a balloon losing air.

CNBC: General Motors's U.S. vehicle sales stumbled like a kid in a race, dropping 1.5% in the first quarter, proving that even the giants of the road occasionally trip on their own hubcaps.

Reuters: Tesla's India plans are sparking more excitement than a Bollywood blockbuster, as the electric car company scouts locations for a potential plant worth a couple of billion dollars—looks like they're revving up for a thrilling sequel on a global scale.

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