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Afternoon Note

Builder Confidence Rises

By Charles Payne, CEO & Principal Analyst
2/19/2019 1:47 PM

Its been a relatively lackluster day as is often the case after a 3-day weekend.  The markets are now currently in the green, with the S&P leading the way.  The Communication Services Sector is enjoying a good day thanks in part to the FAANG stocks, which are performing well.  Netflix (NFLX) is up nicely, around 1.5%.

S&P 500 Index

+0.19%

Communication Services (XLC)

+0.32%

Consumer Discretionary (XLY)

+0.45%

Consumer Staples (XLP)

+0.81%

Energy (XLE)

+0.32%

Financials (XLF)

-0.01%

Health Care (XLV)

+0.02%

Industrials (XLI)

-0.03%

Materials (XLB)

+0.70%

Real Estate (XLRE)

+0.04%

Technology (XLK)

+0.13%

Utilities (XLU)

+0.33%

 

Advancers led decliners 1888/951 on the NYSE and on the Nasdaq 1874/1079.

On the economic front, the NAHB Housing Market Index for February came in at 62 up from 58 in January, topping estimate of 59.  Lower interest rates leading to a reduction in mortgage rates coupled with consumer confidence from a strengthening job market helped increase builder confidence for newly built single-family homes. 

Speaking of interest rates, the 10-year U.S. Treasury is down .94% to 2.64%. The dollar has also given up a bit of ground today, currently trading down .20% to 96.56, while oil is moving higher to $56.87, up 0.87.


 

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