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Afternoon Note

Already On The Beach

By Charles Payne, CEO & Principal Analyst
7/2/2019 1:26 PM

Well this session is something of a reversal from yesterday, as defensive sectors are higher, while Energy and Financials are pulling back.

There is definitely a summer-like idyllic feeling in the air with the Fourth of July, as many investors are already on the beach.

Still, this is the week with the most important data of any month: the monthly jobs report.   For now, I think the big story is cash hanging around the market, even if it’s rotating back and forth, as investors toggle from optimistic to caution.

S&P 500 Index

 

-0.19%

Communication Services (XLC)

+0.48%

 

Consumer Discretionary (XLY)

 

-0.44%

Consumer Staples (XLP)

+0.10%

 

Energy (XLE)

 

-1.86%

Financials (XLF)

 

-0.64%

Health Care (XLV)

 

-0.08%

Industrials (XLI)

 

-0.30%

Materials (XLB)

 

-0.59%

Real Estate (XLRE)

+1.53%

 

Technology (XLK)

 

-0.14%

Utilities (XLU)

+0.91%

 

 


 

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