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

5/26/2020 1:12 PMEarly Excitement
5/26/2020 9:37 AMIf You Open We Will Come
5/22/2020 1:41 PMHo-Hum Session
5/22/2020 9:30 AMRUNNING MAN SESSION
5/21/2020 1:34 PMMarket Surprise
5/21/2020 9:48 AMHEADING BACK TO “GO”
5/20/2020 1:24 PMStrong Rebound
5/20/2020 9:20 AMWATCH THAT LAST STEP… IT’S A DOOZY
5/19/2020 1:05 PMConsolidating Gains
5/19/2020 9:40 AMSHAVE & HAIRCUT…TWO BITS
5/18/2020 1:15 PMJailbreak Session
5/18/2020 11:40 AMWorld Reopening
5/15/2020 1:27 PMNarrow Range
5/15/2020 9:35 AMREVERSAL BUY SIGNAL?
5/14/2020 1:40 PMHunting
5/14/2020 9:34 AMFED PRIMES PUMP…AGAIN
5/13/2020 1:16 PMFalse Negative
5/13/2020 9:30 AMEscaping LA Circa 2020
5/12/2020 1:56 PMThesis Continues
5/12/2020 9:26 AMStacking Chips But New Narrative Gains Momentum
5/11/2020 1:14 PMBig Tech Leading
5/11/2020 9:12 AMWait Until Irrational Exuberance Really Kicks In!
5/8/2020 2:11 PMFlirting
5/8/2020 9:10 AMEmployment Misery to Speed up Reopening?
5/7/2020 2:11 PMTexas Tea
 Complete commentary archives
Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.