Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Solid Bounce

By Charles Payne, CEO & Principal Analyst
9/4/2019 2:04 PM

The major indices continue to climb as tensions in the U.K and Hong Kong ease. In addition, the market got a boost from New York Fed John Williams saying that the central bank will act as appropriate to sustain the current market economic expansion. The U.S. yield curve reversed with the 2-yr yield currently at 1.44%, while the 10-year yield hit 1.46%.

A few high-end retail stocks, which were rattled by large protest in Hong Kong, are gaining today. PVH (PVH) is leading the sector, rallying more than 8%.

Ten of the 11 S&P 500 are higher, with Real Estate, Consumer Staples and Utilities hitting an all-time high.

S&P 500 Index

+0.94%

 

Communication Services (XLC)

 +1.59%

  

Consumer Discretionary (XLY)

 +0.77%

 

Consumer Staples (XLP)

 +0.59%

 

Energy (XLE)

 +1.57%

 

Financials (XLF)

+0.81% 

 

Health Care (XLV)

  

-0.60%  

Industrials (XLI)

+1.23% 

 

Materials (XLB)

+0.92% 

 

Real Estate (XLRE)

+0.75%

 

Technology (XLK)

+1.37% 

  

Utilities (XLU)

+0.10%

  
 
On the economic front, the U.S. trade deficit fell nearly 3% to $54 billion in July on rising exports. In addition, all eyes are on The Fed’s Beige Book at 2 p.m. that will underscore the business conditions in the central bank’s districts.
 

Add Your Comment


Submitted comments are subject to moderation before posting.

PREVIOUS COMMENTARY

9/19/2019 8:05 AMPOWELL WANTS TO BE OUR FRIEND
9/18/2019 1:53 PMDrumroll Please
9/18/2019 9:31 AMWON'T HE DO IT?
9/17/2019 1:48 PMOil Slides
9/17/2019 9:35 AMSHOULD WE ATTACK IRAN?
9/16/2019 1:09 PMTough Sledding but No Panic
9/16/2019 9:31 AMMiddle East Problems Get Worse
9/13/2019 1:32 PMFriday the 13th
9/13/2019 9:43 AMDID THE MARKET SEE A TRADE DEAL ON AUGUST 28TH?
9/12/2019 1:54 PMPowering Higher
9/12/2019 9:40 AMIs the (Party) Train Leaving the Station?
9/11/2019 1:41 PMRushing into Stocks
9/11/2019 9:22 AMNever Forget
9/10/2019 1:25 PMLosing Momentum
9/10/2019 9:40 AMSEEKING VALUE & YIELD  
9/9/2019 1:29 PMFrannie Soaring
9/9/2019 9:30 AMNEXT CATALYST?
9/6/2019 1:58 PMModerate Growth
9/6/2019 9:41 AMWHEW!
9/5/2019 12:47 PMIt’s all coming up!
9/5/2019 9:48 AMKNOCKING ON THE DOOR & CHAMPING AT THE BIT
9/4/2019 2:04 PMSolid Bounce
9/4/2019 9:31 AMRANGE-BOUND FRUSTRATION
9/3/2019 12:38 PMMarket Move
9/3/2019 12:36 PMMarket Move
 Complete commentary archives
Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.