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Afternoon Note

Prime Day

By Charles Payne, CEO & Principal Analyst
7/10/2017 1:27 PM
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The major indices are all in the green at midday.  Advancers are leading decliners 1693/1167 on the NYSE; however, on the Nasdaq decliners are leading advancers 1470/1341. Health care and Biotechs are lagging, while technology is moving higher.

Today is a big day for Amazon (AMZN), which is up almost 2%, as the company host Prime Day for its Amazon Prime clients. This annual sale event is geared towards technology with deep discounts and giveaways as well as four months of unlimited music for $0.99 through Amazon. All the action in the stock is buoying consumer discretionary.  Meanwhile, other retailers are struggling. Best Buy (BBY) is really getting hit on news that Amazon plans to roll out a similar service to its Geek Squad.

Sector Performance

% Change

S&P 500 Index

 

+0.20%

Consumer Discretionary (XLY)

 

+0.18%

Consumer Staples (XLP)

-0.17%

 

Energy (XLE)

 

+0.25%

Financials (XLF)

 

+0.02%

Health Care (XLV)

-0.08%

 

Industrials (XLI)

 

+0.22%

Materials (XLB)

 

+0.79%

Real Estate (XLRE)

-0.39%

 

Technology (XLK)

 

+0.53%

Utilities (XLU)

 

+0.31%

 
In the oil patch, crude has staged a come-back after being down earlier in the session and is now up over 1% to $44.75 per barrel.

Comments
I am SURE there are any NUMBER of independent business people who would LOVE to have all the FREE promotional TV/Radio/Media mentions that Amazon is receiving today! Must be worth millions of dollars! And, I find it SAD that a major power such as this DELIBERATELY takes advantage of the situation! Some might think this is rather CLEAVER of Jeff Bezos, where I feel the public, in general, is being taken ADVANTAGE of...and NO, I am NOT jealous or envious...just saddened by it all!

James Warlin on 7/10/2017 2:47:00 PM
What exactly constitutes a monopoly? Is Amazon headed for trouble? I'm tired of hearing about Amazon this and Amazon that. Sick and tired. All I can say to all the analysts is "Pump It Up".

Timothy Warlin on 7/10/2017 3:02:51 PM
Charles, Miss you brother......Get back on FOX BUSINESS........................................

gregg Paucek on 7/10/2017 8:43:16 PM
Charles we support u 110%

rowland neil on 7/10/2017 9:14:30 PM
Easy to see FOX News leaders are targeted one after another.


Mackcap on 7/11/2017 1:40:52 AM
Really miss your insights on FBN. But appreciate even more your daily market updates. Thanks for all you do.


Roy Orem on 7/11/2017 9:33:51 AM
My wife and I both enjoy watching you on Fox and benefit from what you have to say. We hope to see you back on very, very soon. Hang in there, friend.

George Litwinski on 7/11/2017 1:05:21 PM
 

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