9/8/2019
By Charles Payne, CEO & Principal Analyst

The week before Labor Day saw some very intriguing action, and I was thinking out loud and writing that perhaps smart money had begun to buy dips ahead of the return of all the big players eager to get into the action, and perhaps pay for their Hamptons getaway.

It was obvious to me what was happening. However, what would be the catalyst for the market to finally break out of a four-week range that had major indices bouncing up and down with whirlwind velocity?  Ostensibly, China announcing its trade negotiating team was coming to America in October provided a sigh of relief, but stocks were powered by fundamental fuel.

The same day the China news broke, we saw three economic reports come in better than expected:

• ADP Jobs Report
• Unit Labor Cost
• ISM Nonmanufacturing (service) Report

Click here to read the full report. 

Charles Payne
Wall Street Strategies

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