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Afternoon Note

Letís Keep the Party Going

By Charles Payne, CEO & Principal Analyst
8/1/2017 2:25 PM
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The market had another batch of rather upbeat earnings results today. The Nasdaq Composite Index is currently up 9 points (0.1%) to 6357.39.

 

WTI Crude dropped drastically after a six session rally and it’s weighing on the energy stocks.

The Institute for Supply Management (ISM) showed that U.S. factory activity fell to 56.3 last month from 57.8 in June, which was the highest level since August 2014. This shows a near three-year high in July amid a drop in new orders.

The core PCE showed consumer spending increasing to 2.8%, showing consumption unchanged in June after a rise of 0.2 percent in May.

The S&P 500 traded near the best level of the day. The index is up 5.9 (0.2%) to 2,476, which is only slightly below its record close set last week at 2,484.04. Telecommunications Services and Financials are the two best performing sectors.

S&P 500 Performance

Sector

 

Last %

Market Cap

1-Year % Change

Consumer Discretionary

12 Industries

+0.18%

$4.99T

Consumer Discretionary 1 year % change+12.17%

Consumer Staples

6 Industries

+0.32%

$3.78T

Consumer Staples 1 year % change+1.61%

Energy

2 Industries

-0.09%

$3.35T

Energy 1 year % change-2.52%

Financials

7 Industries

+0.71%

$7.31T

Financials 1 year % change+30.50%

Health Care

6 Industries

-0.05%

$4.76T

Health Care 1 year % change+6.13%

Industrials

14 Industries

-0.37%

$3.87T

Industrials 1 year % change+15.71%

Information Technology

7 Industries

+0.34%

$7.77T

Information Technology 1 year % change+27.53%

Materials

5 Industries

-0.09%

$2.03T

Materials 1 year % change+12.03%

Real Estate

2 Industries

+0.04%

$1.17T

Real Estate 1 year % change--

Telecommunication Services

2 Industries

+1.17%

$1.82T

Telecommunication Services 1 year % change-11.40%

Utilities

5 Industries

+0.50%

$1.22T

Utilities 1 year % change+2.00%

Investors are awaiting Apple (AAPL) earnings results; after the close of the market today. Apple is the S&P 500's largest component by market cap and it’s the last of the “FANG” stocks to report.

We are not going to force the issue. Have a wonderful afternoon.


Comments
More simplicity in your explanation.For us older guys who have the$$$$$.

Don D Nowinski on 8/1/2017 3:16:49 PM
Like your commentary each day. Although I have a financial adviser that I am very happy with, I enjoy reading your views and respect the hell out of you----please come back to Fox business as soon as you sort out what most of think is a non starter situation!!!!!!

David Walz on 8/1/2017 4:26:45 PM
Great commantery Charles...... now mining stocks in South Africa which is either positive or _ your take on AU or Randfountain group Sir Charles.

Ramon Espinosa on 8/2/2017 10:24:18 AM
 

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