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Afternoon Note

Spooking Investors

By Charles Payne, CEO & Principal Analyst
4/30/2019 1:22 PM

Tough sliding for the market today, especially in Technology, as Google (Alphabet) is enduring its worst session since 2012.  The selloff in the stock is spooking investors in other well-known tech names, including Apple (AAPL), which reports its financial results after the close.

Obviously, investors are hiding out in Consumer Staples and Real Estate, while the most intriguing sector not associated with macro factors is Materials.  Material names are being led by Martin Marietta Materials (MLM), which posted very impressive numbers.

There is a chance today’s White House meeting between President Trump and key Democrats on the topic of infrastructure is also luring buyers.  On that note, however, there are reports that White House Chief of Staff Mick Mulvaney has said a deal is unlikely as long as the Democrats are conducting investigations of Trump and his children. (Asking for card data from Tiffany’s certainly feels like harassment.  I hope Congress can work on getting constructive things done.)

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)



Buyers have appeared during this dip, but there is a more cautious tone than in recent trading.  It’s the kind of session that could see weakness into the close.

All Eyes on Apple

I bet investors remember the Apple earnings release on November 29 of last year more than the more recent report that sparked a huge rebound in Apple’s share price.  That session, and the Google drubbing today, are creating a fair amount of trepidation.

Investors are also leery about the fact that earnings consensus is much lower now than it was three months ago.

Share Price Reaction

Same Day

Seven Days

April 30, 2019



November 29, 2018



We are holders of AAPL into the earnings release. 


Charles, we also are long term AAPL since 2008 10K@$30.63 (dripping and added during pullbacks firesales) as many of our portfolios stocks are long. 1eye2C Thank you Charles PAYNE for being the FACTS based news media & FBN . Thank you president Trump. Infrastructure is a President Trump promised idea, and President Trump came up with the $2Trillion DOLLARS idea, and 5G, ALL the ideas, DEMS came out LIEING& Tryingto steal ALL President Trump'sideas promises since 2015. Dems PELOSI& SCHUMER ran out of meeting with President Trump (just to take ALL CREDIT FOR IDEAS, ACT LIKE THEY RAISED the 200 million dem offer to $2 TRILLION , trying to act as they have outsmarted and negotiated over president Trump, Dems always use this as a fake photo op.) NEVER going to agree with president Trump. Just going to run 2020 ads as if they cared or want USA CITIZENS to have help, when DEMS only care about MORE ILLEGAL IMMIGRANTS, GIVE THEM ALL SS, and free College, and medical, taking grants from USA VETERANS &CITIZENS survivors kids. Bull mrkt continues thru 2020, & president Trump will push 2020-2024 USA GDP 4.9% & up. GROWTH

Ed on 4/30/2019 3:19:03 PM

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