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Market Commentary

Meandering Market

By Charles Payne, CEO & Principal Analyst
2/11/2019 12:27 PM

Once again, the market is mostly meandering. All the major equity indices are slightly higher, except the Dow Jones Industrial Average, which gave up a nearly one hundred point gain out of the starting gate.

More broadly, I’m very impressed with Industrials led today by Norfolk Southern (NSC), which updated its business goals this morning, including full year operating ratio of 65.4 improving to 60.0 by 2021.  Revenues are expected to increase annually at a five percent compounded rate.

Overall, it just a quiet market waiting for a bunch of developing issues, which are all rapidly approaching key deadlines.  Meanwhile, the strong 2019 start consolidations is normal, healthy and good.

S&P 500 Index


Communication Services (XLC)


Consumer Discretionary (XLY)


Consumer Staples (XLP)


Energy (XLE)


Financials (XLF)


Health Care (XLV)


Industrials (XLI)


Materials (XLB)


Real Estate (XLRE)


Technology (XLK)


Utilities (XLU)


Even with the indecisiveness of the session, breadth remains positive, and the bias remains to the upside.

1,600 advancers against 1,200 decliners for NYSE and NADAQ. 


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