Afternoon Note
By Charles Payne, CEO & Principal Analyst
7/24/2019 1:30 PM
I have to say, I’m very impressed with the market today. Despite big names dragging in all the indices, from Boeing (BA) and Caterpillar (CAT) on the Dow, to those monster momentum darling on technology and NASDAQ, market breadth is decidedly positive.
NYSE
- 1,852 advancers
- 1,038 decliners
- 956 million up volume
- 529 million down volume
NASDAQ
- 1,838 advancers
- 1,108 decliners
- 586 million up volume
- 291 million down volume
Money Seeking Opportunities
Winning sectors include Energy, Technology and Industrials, even with the aforementioned Boeing and Caterpillar declines.
|
S&P 500 Index |
+0.03% |
|
|
Communication Services (XLC) |
+0.12% |
|
|
Consumer Discretionary (XLY) |
+0.05% |
|
|
Consumer Staples (XLP) |
-0.55% |
|
|
Energy (XLE) |
+0.40% |
|
|
Financials (XLF) |
+0.32% |
|
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Health Care (XLV) |
-0.53% |
|
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Industrials (XLI) |
+0.25% |
|
|
Materials (XLB) |
-0.37% |
|
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Real Estate (XLRE) |
-0.27% |
|
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Technology (XLK) |
+0.33% |
|
|
Utilities (XLU) |
-0.13% |
More earnings are due out after the bell, including Facebook (FB). Thus far, it’s been a remarkable positive earnings season with fewer strikes outs than normal.
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