Election Contributions and Congressional Trading: Quiver Insights

This week saw major headlines, from Elon Musk’s $55 billion executive package rejection to Boeing’s first positive quarterly report in 3 years amidst controversy. Members of Congress filed some lucky trades as well, with Mark Green seeing a 253% upside on NGL trades. 

We’ve also continued to see many interesting developments within the alternative data we scrape and publish. Here’s a snapshot of some of our datasets last week:

LAST WEEK’S CONGRESSIONAL TRADES 

Insights from our Congress Trading Dashboard

• Senator Thomas Carper filed 10 security purchases - including Equitrans Midstream Corp (ETRN) and AES Corp (AES). Carper also filed sales of 8 securities including TotalEnergies (TTE). Carper sits on the Subcommittee on Energy, Natural Resources, and Trade. 

• Representative Mark Green filed a sale of NGL Energy Partners (NGL). He bought up to $1.3M of NGL stock in 2023 - and the stock has risen over 253% in the last year.

• Representative Debbie Wasserman filed a sale of Mag Silver Corporation (MAG), and then filed a purchase of MAG 3 days later. MAG has since lost 10%.

• Representative Rudy Yakym III filed a treasury bill purchase. Yakym sits on the Committee on Budget. 

To see more details about their trades, and how they’ve performed since, check out our Congress Trading Dashboard. 

CORPORATE ELECTION CONTRIBUTION HIGHLIGHTS

Insights from our Election Contributions Dashboard.

We’ve recently started collecting data on donations to political candidates and PACs by executives at publicly-traded companies. Here are the companies whose executives have been donating the most this election cycle so far:

• Honeywell International (HON): $1,962,000 total spending, 57.4% R, 42.7% D

• Lockheed Martin (LMT): $1,519,000 total spending, 56.81% R, 43.19% D

• AT&T (T): $1,505,500 total spending, 56.38% R, 43.62% D

• Boeing (BA): $1,499,000 total spending, 61.59% R, 38.41% D

• Comcast (CMCSA): $1,441,500 total spending, 52.16% R, 47.84% D

Check out the dashboard for a full breakdown. 

MEXICO INVESTMENT BOOM: UNRAVELING THE RISE AND THE KEY PLAYER IN THE SHADOWS 

Mexico is currently seeing an investment boom of unprecedented size. In a move nearly nobody saw coming, Mexico has attracted the most foreign investment of any emerging market country. Today, hundreds of companies, including Tesla, Samsung, Honeywell, Medtronic, and GM, have announced plans to open or expand manufacturing operations in Mexico.

The primary driver behind these investments is nearshoring, which involves companies moving production closer to the final consumer to reduce costs and, most importantly, avoid supply chain issues: Bottlenecks during the COVID-19 crisis, and more recently tariffs, blocked canals, and attacks on vessels in The Red Sea, have demonstrated the risk to companies that import goods via maritime ships. As a result, companies are looking to bring their manufacturing facilities to Mexico to mitigate these risks, helping Mexico surpass Canada as the top trade partner of the United States in 2023.

Continued in Quiver’s Premium Feed

DOT-COM DÉJÀ VU: TOP STOCKS DOMINATE MARKET, ECHOING PAST BUBBLE

Insights from the Quiver News Feed

A recent analysis by JPMorgan (JPM) is highlighting a concerning trend in the U.S. equity markets, reminiscent of the dot-com bubble's speculative frenzy. The top ten stocks, including the so-called 'Magnificent Seven' tech giants, now command a significant portion of the MSCI USA Index, raising alarms about market concentration and the risk of a sell-off.

Market Overview:

• The dominance of the top ten stocks in the MSCI USA Index has risen to 29.3%.

• This concentration is just below the historical peak of 33.2% seen in June 2000.

• The current market is dominated by fewer sectors compared to historical norms.

Continued on our News Feed.